The sale of a pair of west Little Rock apartments weighed in at a combined $40.58 million.
LSREF3 Bravo Arkansas LLC, an affiliate of Lone Star Funds of Dallas, bought the 296-unit Shadow Lake Apartments at 13111 W. Markham St. for $26.87 million and the 216-unit Turtle Creek Apartments at 601 Napa Valley Drive for $13.71 million.
The sellers are G&I VI Shadow Lake LLC and G&I VI Turtle Creek LLC, both affiliates of DRA Advisors of New York and Bell Partners Inc. of Greensboro, North Carolina.
The deal is financed as part of a seven-year $1.35 billion loan from Berkadia Commercial Mortgage LLC of Horsham, Pennsylvania.
G&I purchased both properties in March 2008 in deals with two Highlands Ranch, Colorado, entities: UDR Texas Properties LLC, $19.16 million for the 22.66-acre Shadow Lake development; and UDR Western Residential Inc., $14.45 million for the 15.21-acre Turtle Creek development.
Tractor Transaction
A tractor dealership in Sherwood tipped the scales at $1.7 million.
Sherwood Tractor Property LLC, led by Danny and Donna Montgomery, acquired its namesake 3.3-acre development at 7200 Landers Road and an adjoining 1.74-acre parcel from the Douglas & Sheree Meyer Family Revocable Trust.
The deal is backed with a five-year loan of $3.81 million from Twin Lakes Community Bank of Flippin.
The Meyers bought the property for $150,000 in February 1992 from Twin City Bank of North Little Rock.
Terminal Purchase
A truck terminal in North Little Rock changed hands in a $700,000 transaction.
Celadon Realty Inc. of Indianapolis purchased the 17,000-SF facility at 330 Mid State Truck Plaza from Ronnie and Sandra Dowdy.
The 10.79-acre development previously was tied to a June 2009 mortgage of $425,000 held by First Community Bank of Batesville and encumbered by an August 2012 federal tax lien of $781,970.
The Dowdys acquired the property for $416,000 in August 1998 from Fine Properties Trust, led by J.O. & H.F. Fine.
More Land
About 125.4 acres of green space was added to an exclusive golf club in west Pulaski County in a $627,150 deal.
Alotian Club LLC, led by Warren Stephens, bought the property along the southern and western perimeter of its 1,150-acre spread from Deltic Timber Corp. of El Dorado.
Deltic purchased the land from International Paper Co. in March 1980 as part of an $8.28 million transaction that encompassed 15,508 acres in Pulaski County.
Advanced Acquisition
An Advance Auto Parts store in Sherwood rang up a $573,000 sale.
Valley Realty Co., led by Lawrence Magdovitz, acquired the 4120 E. Kiehl Ave. project from Hal and Vicki Mat-thews.
The deal is funded with a 10-year loan of $460,000 from First Alliance Bank of Cordova, Tennessee. The 0.79-acre development previously was linked with a January 2001 mortgage of $318,000 held by Twin City Bank.
The property was bought for $758,000 in January 2001 from Integra Associates LLC, led by Robert Friesen and Ralph Ronalter.
Club House
A 4,356-SF home near the Country Club of Little Rock is under new ownership after a $989,000 deal.
Huiyong Chung and Elena Ambrogini purchased the house from James and Elizabeth Smitherman. The deal is backed with a 30-year loan of $791,200 from Bank of America in Charlotte, North Carolina.
The residence previously was tied to an April 2012 mortgage of $685,000 held by U.S. Bank of Cincinnati.
The Smithermans acquired the property for $850,000 more than two years ago from Trevor and Tanda Stoelzing.
Sologne Manor
A 5,569-SF home in the Sologne Circle neighborhood of west Little Rock’s Chenal Valley development drew a $965,000 transaction.
Pamela and Patrick Turner bought the house from the namesake revocable trusts of Gary and Palma Gray.
The residence previously was linked with a September 2012 mortgage of $500,000 held by Bank of America.
The site was purchased for $208,000 in August 2002 from Kevin Hughes Construction Co.
Sezanne Abode
A 4,842-SF home in the Sezanne Court neighborhood of west Little Rock’s Chenal Valley development sold for $665,000.
Muhammad Khan and Abby Holt acquired the house from Tim and Amy Hebron.
The deal is financed with a five-year loan of $598,500 from Citizens Bank of Batesville.
The residence previously was tied to a June 2012 mortgage of $475,000 held by Toyota Financial Consumer Solutions of Henderson, Nevada.
The Hebrons bought the property
for $655,000 in April 2008 from the Chapman Joint Revocable Trust, led by Ralph Stanley Chapman Jr. and his wife, Robbie.
River Market Condo
A high-rise condo in downtown Little Rock changed hands in a $660,000 deal.
The Brad and Kathy Workman Joint Revocable Trust purchased the 823-SF unit on the ninth floor of the River Market Tower at 315 Rock St. from RMT II LLC, led by Jimmy Moses and Rett Tucker.
The property previously helped secure mortgages of $18.68 million held by First Security Bank of Searcy and $3.38 million held by Batesville’s Citizen Bank.
The 1.2-acre site was acquired in October 2005 as part of a $5.08 million deal with the Arkansas Teacher Retirement System.
St. John’s Home
A 3,410-SF home in the St. John’s Woods neighborhood of Little Rock rang up a $570,000 sale.
Wesley Ivory bought the house from Judith Owens.
The deal is funded with a 30-year loan of $400,000 from Simmons First National Bank of Pine Bluff. The residence previously was linked with an August 2012 mortgage of $214,500 held by Bank of England.
The property was purchased for $580,000 in June 2005 from Noel and Joan Strauss.
Miramar Residence
A 3,484-SF home in the Miramar Place neighborhood of west Little Rock’s Chenal Valley development sold for $523,590.
Victor and Laura White acquired the house from E. Ward Construction Inc., led by Eric Ward. The residence previously was tied to a March 2014 mortgage of $368,000 held by BancorpSouth Bank of Tupelo, Mississippi.
The site was bought nine months ago for $84,000 from Deltic Timber Corp. of El Dorado.
300 Third Condo
A high-rise condo in downtown Little Rock is under new ownership after a $510,000 deal.
Ryan Van Laar purchased a 1,944-SF unit on the 11th floor of the 300 Third Building at 300 E. Third St. from Majestic Group LLC, led by Wally Allen.
The deal is backed with a 30-year loan of $408,000 from Regions Bank of Birmingham, Alabama. The condo previously was linked with a May 2007 mortgage of $577,000 held by Centennial Bank of Conway.
Majestic Group acquired the unit for $578,000 from 300 Third LLC, led by Jimmy Moses and Rett Tucker.
Midas Funding
The owner of a 120-room hotel in North Little Rock landed a $10.5 million mortgage.
Midas Little Rock LLC of St. Louis obtained the loan from Redwood Commercial Mortgage Corp. of Mill Valley, California.
The 3.06-acre Hilton Garden Inn development at 4100 Glover Lane previously was tied to an August 2013 mortgage of $9.62 million held by Royal Banks of Missouri in Creve Coeur.
Midas Little Rock bought the project for $13.1 million 16 months ago from McCain Lodging Inc., led by Ishverbhai Govind.
Skybird Mortgage
The owner of a 110-room motel in east Little Rock picked up a $2.35 million funding agreement.
Skybird Lodging LLC, led by Nareshbhai Patel, received the four-year loan from First Federal Bank of Harrison.
The 2-acre development previously was linked with a March 2012 mortgage of $2.7 million held by Malvern National Bank.
Skybird purchased the project for $2.6 million in October 2008 from Arkansas Hospitality Inn Inc., led by Mohammad Ramji.
| Seven-Digit Construction | |
| Seventh Street Elementary | $9,900,000 |
| 1200 E. Seventh St., North Little Rock | |
| Baldwin & Shell Construction Co., Little Rock | |
| Tenant Finish-out | $1,230,000 |
| Medical Imaging | |
| 16115 St. Vincent Way, Little Rock | |
| Clark Contractors LLC, Little Rock |
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