Residence Inn Buy Exceeds $11.2M (Real Deals)

Residence Inn Marriott at 219 River Market Ave. in downtown Little Rock. (George Waldon)

A 107-room hotel in downtown Little Rock tipped the scales at $11.27 million.

RILR River Market LLC, led by Bhavin Sharolia, purchased the Residence Inn Marriott at 219 River Market Ave. The seller is SREIT RI Little Rock Propco LLC, an affiliate of Starwood Property Trust in Greenwich, Connecticut.

The deal is funded with a three-year loan of $11.9 million from Arvest Bank of Fayetteville.

SREIT RI acquired the 0.48-acre development for $20.3 million in January 2019 from NFII/CI Little Rock LLC, an affiliate of Atlanta’s Noble Investment Group.

CTEH Transaction

An 18,540-SF office building in North Little Rock weighed in at $2.5 million.

CTEH Properties LLC, an affiliate of the Center for Toxicology & Environmental Health, sold its 5120 Northshore Drive project to Tempus Northshore LLC, led by Isaac Smith.

The deal is financed with a five-year loan of $8.2 million from Simmons Bank of Pine Bluff.

CTEH Properties purchased the 3.78-acre location for $372,000 in March 2006 from Pfeifer Family Ltd. No. 1, led by Gene Pfeifer.

Apartment Assembly

Land for a west Little Rock apartment project was assembled in deals totaling $945,000.

Reserve at Brodie Creek LLC, led by Eric Holloway, Jameel Wesley, Roy Andrews, Brandi Davis, Mark Redder and Dustin Welch, put together 64.49 acres in a deal backed with a one-year loan of $1.2 million from First Service Bank of Greenbrier.

The sellers are:

► Kahn Family Partnership 1990, led by Jane K. Moses, the Marion Kahn Godchaux Irrevocable Trust and the Alfred Kahn Family Trust, 49 acres at the south end of Tudor and Stone Hedge drives, $495,000; the Kahn family purchased the property for an undisclosed sum in March 1956 from Garner and Bernice Smith.

► Investment Management LLC, led by Keith Richardson, 10 acres on the east side of Calvary Church of the Nazarene at 10325 W. 36th St., $350,000. The land was bought for $100,000 in March 2013 from North Little Rock’s National Bank of Arkansas.

► Richardson Properties LLC, led by Keith Richardson, 5.49 acres adjoining the south end of the 36th Street parcel, $100,000. The property was acquired for $136,000 in November 2014 from Nalley Family LLLP, led by Louis Nalley Jr.

Dentistry Development

A 2,285-SF dental office in the Heights area of Little Rock changed hands in a $760,000 deal.

Gaines Dental Holdings LLC, led by Joshua Gaines, bought the dentistry project at 2002 N. University Ave. from Werner Schneider.

Schneider purchased the 0.16-acre development for $398,000 in December 2007 from William and Anita Russell.

Rent a Wheel

A 2,076-SF retail project in North Little Rock sold for $508,000.

JDBM Texas LLC of Grand Prairie, Texas, acquired the Rent a Wheel at 3900 Camp Robinson Road from Raines Bro. Development Co. LLC of Ashburn, Georgia.

The deal is funded with a 10-year loan of $227,000 from Truist Bank of Charlotte, North Carolina.

Raines Bro. bought the 0.4-acre development for $300,000 in December 2015 from Forrest and Peggy Penny and McSisters LLC, led by Diana McBride and Susan McCord.

Maumelle Residential

Seven lots in Maumelle’s Country Club of Arkansas neighborhood are under new ownership after a $776,000 deal. MidSouth Property Management LLC, led by Kevin Keathley, purchased the homesites from CCA Phase 24 Partners LLC, led by John T. Wright.

The deal is financed with a one-year loan of $776,000 from First Security Bank of Searcy.

The land was acquired in February 2007 as part of a court-ordered $325,000 sale. The sellers were Martha Kierre; Robert Vales; McKinley Corbin; Joseph Corbin; the heirs of A.J. Corbin; Leon West; Yvette West Jackson; Cassandra West Miller; the Mae Francis Gray estate; Viannia Stanley; Flora Mae Nwandei; Johnelia Taylor; Michael and Calvin Green; Lavell, Wallace, Kasha and Gary Hatchett; Joyce Hatchett Credit; and the heirs of Bruce Hatchett and James Henry Hatchett.

River Crest Estates

A 7,222-SF home in Maumelle’s River Crest Estates neighborhood tipped the scales at $1.1 million.

Michael and Tamara Ogburn bought the house from Josephine Ambruzs and Steven Roberts. The deal is backed with a 30-year loan of $500,000 from Bank of America in Charlotte, North Carolina.

Ambruzs and Roberts purchased the residence for $898,000 in March 2020 from Scott and Barbara Wall.

Cammack Woods

A 3,517-SF home in Cammack Village rang up an $815,000 sale.

Mary and Jay Carnes acquired the house in the Cammack Woods neighborhood from the Smith Family Trust, led by Adam Harrison Smith.

The deal is funded with a 30-year loan of $652,000 from Arkansas Federal Credit Union in Little Rock.

The trust bought the residence for $618,000 in June 2019 from CBM Appraisals Inc., led by Chris Maris.

The Maisons

A 4,623-SF home in The Maisons neighborhood of west Little Rock drew a $795,000 transaction.

The Colton & Haylee Harmon Revocable Trust purchased the house from Beau and Cecilia McNeff. The deal includes a lot in The Signature at Cypress Creek neighborhood in Cabot.

The deal is financed with a $795,000 loan from Chambers Bank of Danville.

The McNeffs acquired the residence for $755,000 in August 2022 from Matthew and Kristin Gawlik.

Candlewood Abode

A 3,907-SF home in west Little Rock’s Candlewood neighborhood changed hands in a $735,000 deal.

Jonathan and Angela Casciano bought the house from the estate of Stephanie Denise Chamberlin.

The deal is backed with a 30-year loan of $698,250 from First Security Bank.

Chamberlin purchased the residence for $450,000 in May 2016 from Steve Lahodny.

Hickory Creek

John and Sarah Rainwater paid Joan Leggett $1.25 million for her 6,570-SF home in west Little Rock’s Hickory Creek neighborhood.

Leggett and her husband, Harry, acquired the residence for $950,000 in September 2005 from Russell C. Murphy and his wife, Kathryn.