Owner became tenant after the sale of the Little Rock Pediatrics Plus facility.
The sale of a 32,518-SF special needs health and education facility in west Little Rock checked in at $8.19 million.
Broadstone PP Arkansas LLC of Rochester, New York, bought the Pediatrics Plus project at 1900 Aldersgate Road from Kids Play Properties LLC, led by Todd Denton.
The 6.29-acre development previously was tied to a March 2012 mortgage of $5.4 million originated by Delta Trust & Bank of Little Rock, a March 2013 loan of $2.1 million through Six Bridges Capital Corp. of Little Rock and a September 2013 mortgage of $245,000 held by Southern Bancorp Bank of Arkadelphia.
The land was assembled in two deals totaling $981,000. The sellers are D.M. and Ida Lewis, $310,000 in February 2012, and Nabholz Inc., led by Bill Hannah, $671,000 in March 2012.
Wireless Location
Construction of a 4,505-SF Verizon Wireless store in west Little Rock is in motion after a $925,000 land deal. PDG Chenal I LLC of Franklin, Tennessee, purchased the 1.3-acre site at 17807 Chenal Parkway from Red Little Rock Land LLC of Overland Park, Kansas.
The deal is financed with a $2.2 million loan from Avenue Bank of Nashville, Tennessee.
The land is part of the original 37.8-acre Promenade site bought for $10.25 million in September 2006 from Deltic Timber Corp. of El Dorado.
Bretagne Abode
A 4,310-SF home in the Bretagne Circle neighborhood of west Little Rock’s Chenal Valley development changed hands in a $681,000 sale.
Jason and Melanie Smith acquired the house from William and Jane Whelpley. The deal is funded with a 30-year loan of $544,000 from Wells Fargo Bank of Sioux Falls, South Dakota.
The Whelpleys purchased the property for $745,000 in November 2005 from Stan and Virginia Bailey.
Candlewood Residence
A 5,048-SF home in west Little Rock’s Candlewood neighborhood drew a $599,000 transaction.
Susan McDougal and Robyn Horn bought the house from the Grismer Living Trust, led by Jane Grismer. The deal is backed with a $533,000 loan from Farmers Bank & Trust of Camden.
The location was acquired in October 1996 as part of a $150,000 deal with the Char-Beck Trust, led by the James Becknell family.
Bowman Pointe Loan
First phase construction of a 609-unit apartment project is backed with a $21 million funding agreement. Bowman Pointe LLC, led by Keith Richardson, obtained the two-year loan from Centennial Bank of Conway.
The 13-acre site at the northeast corner of Bowman Road and 36th Street was acquired in November 2013 as part of a $1.24 million deal.
The seller was Elgor Inc., led by the family of Robert Wilson Sr.
Adcare Refinancing
The owners of three nursing home projects in Pulaski County picked up a $12 million financial package.
Affiliates of Adcare Health Systems Inc. of Columbus, Ohio, got the 18-month loan from Private Bank & Trust Co. of Chicago.
Northridge HC&R Property Holdings LLC purchased its 140-bed namesake project in April 2012 from Northridge Arkansas LLC of Chicago for $5.6 million.
The 4.77-acre Northridge Healthcare & Rehabilitation Center development is at 2501 John Ashley Drive in North Little Rock.
Woodland Hills HC Property Holdings LLC bought its 140-bed namesake project in April 2012 from Woodland Arkansas LLC of Chicago for $4.5 million. The 1.34-acre Woodland Hills Rehabilitation & Healthcare Center development is at 8701 Riley Drive in west Little Rock.
APH&R Property Holdings LLC acquired the 120-bed Abington Place Health & Rehab Center in April 2012 from SCLR LLC, led by Rick Wilson of Royal (Garland County), for $3.6 million.
The 1.89-acre Abington project is at 1516 Cumberland St. in downtown Little Rock.
The properties all previously were linked with a December 2012 mortgage of $16.5 million held by Keybank of Cleveland.
Land Funding
A 19.6-acre tract in west Little Rock was used to secure a $2 million mortgage.
16500 LLC, led by Gene Pfeifer, received the loan from Centennial Bank.
The land was purchased for $280,000 in November 1988 from Martin and Carol Dorman.
(More Real Deals: Nonprofit Group Takes a Lick on Hanger Hill Properties)
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