Retirement Projects Equal $7.8M Transaction (Real Deals)

Tandem transactions involving retirement projects in Sherwood and Jacksonville added up to $7.8 million.

Affiliates of Read Property Group of Brooklyn, New York, purchased Senior Residences projects at 201 Teague Lane in Sherwood for $4.29 million and at 813 E. Martin St. in Jacksonville for $3.52 million from affiliates of Wenson & Associates of Bee Cave, Texas.

Sherwood Senior Apartments LLC bought a 78-unit project from its namesake owner, Senior Residences of Sherwood Ltd. Jacksonville Senior Apartments LLC acquired an 80-unit project from its namesake owner, Senior Residences of Jacksonville I Ltd.

The 5.27-acre Sherwood development previously was tied to an April 2012 mortgage of $2.1 million held by Dougherty Mortgage LLC of Minneapolis.

The location was purchased in March 1999 for $396,000 from Brookwood Land Co., led by John Sanders Sr. and his wife, Eleanor; Kevin and Catherine McConnell; John Sanders Jr. and his wife, Deborah; and Dr. Allen Marshall.

The 6.03-acre Jacksonville development previously was linked with a July 2000 mortgage of $2.2 million held by First Union National Bank of Charlotte, North Carolina. The site was bought for $237,000 in August 1999 from Peacock Ltd., led by James E. Peacock.

Convenient Acquisition
An 8,000-SF convenience store in Cabot weighed in at $1.33 million.

ARG MECBTAR001 LLC, an affiliate of American Realty Capital of Charlotte, acquired the 9909 Hwy. 5 project.

The seller is Vault CS 9909 Hwy 5 LLC, an affiliate of Vault Equity Partners of Bloomfield Hills, Michigan.

The 2.49-acre development was purchased for $1 million in January. The seller was Taylor Mercantile LLC, an affiliate of Mountain Oil Express Co. of Acworth, Georgia.

Industrial Purchase
An 8,000-SF industrial building in west Little Rock changed hands in a $500,000 transaction.

Imperial Enterprise LLC, led by Mark Enderlin, bought the Imperial Ice project at 10 Shackleford Ridge Road. The seller is Imperial Property LLC, led by Mark Grace. The deal is backed with a 15-year funding agreement of nearly $1.3 million from Simmons Bank of Pine Bluff.

The 1-acre development previously was tied to a November 2017 mortgage of $328,281 held by Union Bank & Trust of Monticello.

The land was acquired in November 2005 as part of a $349,000 transaction with Barbara and Jeff Duty and Twilla and Lawrence Harper.

Office Buy
A 1,692-SF residential office in west Little Rock sold for $269,000.

FCSC Partners LLC, led by Howard and Kayla Stephens, purchased the 13616 Kanis Road project.

The seller is FC Partners LLC, led by Charles Fiser and Justin Cleveland. The deal is funded with a five-year loan of $220,000 from Fayetteville’s Arvest Bank.

The 2.37-acre development previously helped secure a January 2008 mortgage of $297,000 held by Summit Bank of Arkadelphia. FC Partners bought the property for $100,000 in November 2002 from O.S. Cooper and his wife, Jacquelin.

Industrial Purchase II
A 4,964-SF office/warehouse in Little Rock drew a $130,000 transaction.

Ben Davis Properties Management LLC acquired the 2011 E. Roosevelt Road project from Raymond Barber.

The 0.34-acre development was purchased for $64,000 in March 1998 from James Latture.

River Club Manor
A 5,286-SF home in the River Club neighborhood near the northwestern edge of Little Rock tipped the scales at $1.25 million.

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The Rodney A. Thomason Revocable Trust bought the house from Brian and Paige Bratcher. The deal is financed with a one-year loan of $1.2 million held by First State Bank of Warren.

The residence previously was linked with a February 2016 mortgage of $1 million held by Bank of Little Rock Mortgage Corp. The Bratchers acquired the land for $109,000 in March 2001 from Mary Bowen.

Normandy Abode
A 3,489-SF home in Little Rock’s Normandy neighborhood is under new ownership after a $624,900 transaction.

Gina and Ryan Thursby purchased the house from HBH Builders Inc., led by Howard Holmes. The deal is backed with a 30-year loan of $566,757 from NTFN Inc. of Lewisville, Texas.

The residence previously was tied to a May 2018 mortgage of $480,000 held by Relyance Bank of Pine Bluff.

HBH bought the property for $347,500 in September 2015 from the estate of Cleda Pack.

Ensbury Place I
A 4,228-SF home in the Ensbury Place neighborhood rang up a $589,000 sale.

Mitchell and Lora McIntosh acquired the house from RQM LLC, led by Russell and Quenna Milam. The deal is funded with a 30-year loan of $439,000 from Simmons Bank.

The residence previously was linked with a December 2017 mortgage of $480,000 held by Searcy’s First Security Bank.

RQM purchased the site for $84,000 more than 15 months ago from Deltic Timber Corp. of El Dorado.

Maisons Residence
A 4,513-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development changed hands in a $557,000 transaction.

Eric and Ashley Mangham bought the house from Carrie Ackerman.

The deal is financed with a 30-year loan of $445,600 from Arkansas Federal Credit Union of Jacksonville. The property was acquired for $562,000 in July 2008 from Mangaraju Chakka and Kanthi Dasari.

Rockwater House
A 3,851-SF home in North Little Rock’s Rockwater Village neighborhood sold for $525,000.

The namesake family trust of Jeffrey and Lisa Neill purchased the house from WaBu Properties LLC, led by Joshua Watkins and Marshal Butler.

The residence previously was tied to a December 2017 mortgage of $383,000 from First Arkansas Bank & Trust of Jacksonville.

WaBu bought the location for $100,000 15 months ago from North Bluffs Development Corp., led by Lisa Ferrell.