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Presidential Hotel Sale Tops $12.7M Mark (Real Deals)Lock Icon

5 min read

A 150-room hotel in downtown Little Rock tipped the scales at $12.75 million.

HILR Partners LLC and Leisure Hospitality LLC, affiliates of CSK Hotels of Fort Smith, purchased the Holiday Inn Presidential at 600 Interstate 30 and adjoining parking.

The sellers are LR HI Associates LLC and LR PS Associates LLC, affiliates of Centura Capital of Conshohocken, Pennsylvania.

The new owners assumed a February 2016 loan of $8.6 million originated by Bancorp Bank of Wilmington, Delaware.

The 2-acre development was ac-quired for $8.7 million in February 2016 from HI Presidential LLC and Carpenter Hotel Group LLC, both led by Larry Carpenter.

Convenient Flip

A Circle K redevelopment is in motion in downtown North Little Rock after a $1.42 million flip.

700 East Broadway LLC, led by Jared Coleman, bought the 3,360-SF Sunny Mart convenience store project at 700 E. Broadway from So Yeon Kim. The redevelopment is backed with a five-year loan of $2.3 million from Little Rock’s Bank OZK.

Kim bought the property for $1.18 million three months ago from In Ho and Yeon Nam Lee. The 0.71-acre development previously was tied to an October 2015 mortgage of $851,244 held by Arvest Bank of Fayetteville.

The Lees purchased the project for $1.2 million in January 2005 from Flash Market Inc., led by Harold Patterson.

Multifamily Sale

A 16-unit apartment complex in midtown Little Rock changed hands in a $710,000 deal.

Robertson Capital LLC, led by Brian and Bonnie Robertson, acquired the 218 N. Taylor St. project from the Jett Ricks & Georganne Ricks Family Corp.

The deal is financed with a five-year loan of $999,000 from Simmons Bank of Pine Bluff. The 0.36-acre property was bought for $16,000 in September 1965 from Terrell Harrell.

Aces Acquisitions

Adjoining commercially zoned properties in downtown North Little Rock sold in tandem transactions totaling $325,000.

Five Aces LLC, led by Anthony Brooks, purchased a 1,588-SF house at 610 Olive St. for $175,000 and a 2,160-SF storage warehouse at 606 Olive St. for $150,000.

The seller in both deals is Halloran Investments LLC, led by John Halloran. The properties previously were linked with October 2018 mortgages of $85,600 and $74,400 held by BancorpSouth Bank of Tupelo, Mississippi.

Halloran acquired the 0.17-acre 610 Olive St. property for $107,000 and the 0.18-acre 606 Olive St. development for $93,000 in October 2018 from Frances Tweed and Frances Soderberg.

Comfort Expansion

About four acres between Sherwood and Jacksonville drew a $300,000 transaction.

Comfort Systems USA (Arkansas) Inc., led by Clyde Jester, bought the land adjoining its 3900 Terra Glen Lane facility. The seller is Terraforma LLC, led by David Bruning and Doug Meyer.

Terraforma purchased the property in March 1996 as part of a $65,000 deal with David and Marion Cummins.

Warehouse Buy

A 2,916-SF warehouse in downtown North Little Rock rang up a $80,000 sale.

BSTW Properties LLC, led by Lawrence Wilson, acquired the 901 Olive St. project. The seller is McRae Mortgage & Investments LLC, led by Kenneth McRae IV.

McRae Mortgage bought the 0.42-acre development three months ago as part of a $261,250 deal with Darcy Stringham.

Osage Falls

A 6,987-SF home in Maumelle’s Osage Falls neighborhood is under new ownership after an $800,000 deal.

Tracy Phillips purchased the house from Gilbert and Sandra Carpenter. The residence previously was tied to a July 2010 mortgage of $410,000 held by Bank OZK.

The Carpenters acquired the location for $62,000 in November 1998 from Osage Development LLC, led by Lynn Dickey.

Heights Home

A 4,393-SF home in the Heights area of Little Rock changed hands in a $775,000 transaction.

Angela and Kevin Wimmer bought the house from James and Brandy Wood. The deal is funded with a 30-year loan of $620,000 from Eagle Bank & Trust of Little Rock.

The residence previously was linked with a February 2018 mortgage of $597,250 held by Southern Bancorp Bank of Arkadelphia.

The property was purchased for $340,000 in January 2017 from Daniel Moore.

Miller Heights

A 4,321-SF home in Sherwood’s Miller Heights neighborhood sold for $715,800.

John and Bridget Riedie acquired the house from D.A. Phillips Homes LLC, led by Donald Andrew Phillips.

The deal is backed with a 30-year loan of $253,125 from Bank of England.

The residence previously was tied to a June 2018 mortgage of $424,100 held by First Arkansas Bank & Trust of Jacksonville.

The location was bought for $107,000 11 months ago from Miller’s Heights Development LLC, led by Steven Deere.

Ensbury Place I

A 4,250-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development drew a $645,436 transaction.

Ryan and Rachel Morrow purchased the house from Bradford Construction & Contracting Services LLC, led by Robert Bradford IV and Joshua Morris.

The deal is financed with a 30-year loan of $575,936 from Wells Fargo Bank of Sioux Falls, South Dakota.

The residence previously was linked with a July 2018 mortgage of $552,500 held by Eagle Bank & Trust.

The site was acquired for $84,000 in December 2017 from Deltic Timber Corp. of El Dorado.

Heritage Place

A 4,881-SF home in the Heritage Place neighborhood of west Pulaski County rang up a $635,000 sale.

Jeremy and Gina McNabb bought the house from Lindy Smith. The deal is funded with a 30-year loan of $381,000 from First Security Bank of Searcy.

The property was purchased in December 2015 as part of a $640,000 deal with John and Michelle White.

Mirabel Court

A 3,340-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $540,000 deal.

Richard and Cristi Roulston acquired the house from Lenore Merrell. The deal is backed with a one-year loan of $432,000 from First Security Bank.

Merrell bought the property for $499,000 in July 2017 from Billy Hartness Construction Co.

Woodlands Edge

A 3,205-SF home in west Little Rock’s Woodlands Edge neighborhood changed hands in a $512,000 deal.

Michael and Lisa Hodapp purchased the house from Dillon Homes & Real Estate Inc., led by Janet Dillon.

The deal is financed with a 24-year loan of $396,000 from Quicken Loans Inc. of Detroit. The residence previously was tied to a June 2018 mortgage of $379,200 held by Arvest Bank.

The land was acquired for $40,000 in November 2016 from Rocket Properties LLC, led by Lisenne Rockefeller.

Ensbury Place II

A 3,413-SF home in the Ensbury Place neighborhood sold for $502,000.

Kris and Karen Upton bought the house from E. Ward Construction Inc., led by Eric Ward. The deal is funded with a 30-year loan of $451,800 from Eagle Bank & Trust.

The residence previously was linked with a May 2018 mortgage of $414,000 held by BancorpSouth Bank. The site was purchased for $87,000 in December 2016 from Deltic Timber Corp.

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