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South Oaks Apartments Hosts $11.2M Sale (Real Deals)Lock Icon

5 min read

A 204-unit apartment project in Little Rock tipped the scales at $11.23 million.

South Oaks Little Rock LLC, an affiliate of RREAF Holdings of Dallas, purchased its namesake complex at 3401 Fair Park Blvd. The seller is South Oaks Apartments Ltd., an affiliate of Little Rock’s BSR Trust.

The deal is financed with a 10-year loan of $10.4 million from Berkadia Commercial Mortgage LLC of Ambler, Pennsylvania.

The 5.46-acre development was acquired for $6.8 million in May 2013 when the limited partnership was led by James Alessi.

Natural Purchase

The sale of a 15,340-SF food store in west Little Rock checked in at $6.38 million.

ExchangeRight Net Leased Portfolio 41 DST of Pasadena, California, bought the Natural Grocers at 9210 N. Rodney Parham Road from EVC Little Rock LLC, an affiliate of Equity Ventures Commercial Development of Topeka, Kansas.

The deal is now helping secure a $66 million funding agreement from Morgan Stanley Bank of New York.

The 1.55-acre former Western Sizzler location was purchased for $1 million in July 2015 from Parks Land Co. LLLP, led by Donald Parks.

Rentals Purchase

A 12,000-SF commercial project in south Little Rock weighed in at $2.6 million.

Bruton Rentals LLC of Durango, Colorado, acquired the Blueline Rental facility at 9300 Mabelvale Pike from RC Coburn LLC, led by Roger Coburn Jr.

The deal is backed with a 20-year loan of $471,000 from Bank of Hays in Kansas.

Land for the 4.83-acre development was assembled in three transactions totaling $395,000. The sellers were Glynn and Mary Reynolds, $200,000 in May 2003; Ted Meyer Sr. and his wife, Mary Sue, $70,000 in May 2004; and Ann Shults, $125,000 in June 2010.

Tandem Transactions

Neighboring warehouses in south Little Rock sold to separate buyers in deals totaling $1.64 million.

AC Nelsen Co. Properties LLC of Omaha, Nebraska, purchased the 26,157-SF Reliable Services project at 6200 Dividend St. for $860,000. The 6.24-acre development is funded with a five-year loan of $688,000 from Great Western Bank of Sioux Falls, South Dakota.

Momi Holdings LLC, led by Avtar and Supreet Momi, bought the 22,100-SF Power Solutions development at 6210 Dividend St. for $785,000. The 2.39-acre development is financed with a 10-year loan of $588,750 from Citizens Bank of Batesville.

The seller in both deals is Yorkshire Properties LLC, led by Charles Whiteside III and James Osborne. The limited liability company acquired the properties for $1.5 million in July 2016 from S&D Realty Corp., led by Morris Mintz.

Salmon Acquisition

A 26,100-SF vehicle service center in North Little Rock changed hands as part of a $1.2 million deal.

Fleetpark McCain AR LLC, an affiliate of 10 Roads Express of Carter Lake, Iowa, bought the Salmon Cos. project at 4806 E. McCain Blvd. and nearly 2 acres spread across five nearby lots along East 38th Street, Russell Drive and Church Street.

The seller is Cross Street Services Inc., led by Don Salmon. The deal is backed with an $18 million funding agreement with CIBC Bank USA of Chicago.

Most of the property was assembled in five deals totaling $382,000. The sellers were Lucy Shirley, $100,000 in July 1989; Jerry and Deborah Thompson, $7,000 in June 1998; the estate of Kenneth McKee, $80,000 in April 1998; Donald and Ruby Etchison, $150,000 in July 1999; and Herbert and Barbara Skiles, $45,000 in May 2000.

Blasting Buy

A 3,880-SF office building in Jacksonville rang up a $235,000 sale.

Xpress Media Blasting LLC, led by John Barber, acquired the 1014 S. Redmond Road project. The seller is ACJ Rental Co. LLC, led by Jerry Smith.

The deal is financed with a seven-year loan of $200,00 from Bank of Little Rock.

The 0.71-acre location was bought for $28,000 in November 1991 from Dupree Brothers Ltd., led by P.W. Dupree Jr.

One Stop Purchase

A 1,064-SF convenience store in North Little Rock drew a $230,000 transaction.

YB Investments LLC, led by Bok Sook Han, purchased the MacArthur’s One Stop at 4800 MacArthur Drive from the heirs of Georgia Witkowski Fortner: Michael, James, Jeffrey and Max Fortner.

Ownership of the 0.73-acre location was transferred as a gift in December 1982 from M.E. and Ruth Witkowski.

Germay Court

A 6,193-SF home in west Little Rock’s Germay Court neighborhood tipped the scales at $1.4 million.

William and Allison Hudson bought the house from William and Marilyn Stanley.

The Stanleys purchased the location for $313,000 in April 2011 from Diana and Boyd Rothwell.

Forest Heights

A 4,227-SF home in Little Rock’s Forest Heights neighborhood drew an $810,000 transaction.

Aaron and Holly Nicholson acquired the house from William and Paula Tinsley. The deal is backed with a 30-year loan of $510,000 from First Horizon Bank of Memphis.

The Tinsleys bought the residence for $820,000 in July 2007 from Robert and Tracy Harrelson.

Chenal Circle

A 4,993-SF home in west Little Rock’s Chenal Circle neighborhood is under new ownership after a $676,143 deal.

Jimmy and Julie Crocker purchased the house from Wells Fargo Bank of Sioux Falls, South Dakota, as trustee for a portfolio of mortgage-backed securities.

The deal is funded with a 30-year loan of $510,400 from Simmons Bank of Pine Bluff.

Kenneth and Lana McIntyre forfeited the residence in lieu of foreclosure on a May 2006 mortgage of $820,000 originated by Countrywide Home Loans Inc. of Van Nuys, California.

Rural Residence

A 2,716-SF home in west Pulaski County sold for $599,900.

Douglas Young and Wendy Taylor bought the house from Michael and Connie Hendrixson. The deal is financed with a 30-year loan of $510,000 from First Horizon Bank.

The 6.23-acre property was purchased for $165,000 in 1992 from Roy Peterson Jr. and his wife, Allyson.

Falstone Court

A 4,050-SF home in west Little Rock’s Falstone Court neighborhood changed hands in a $648,000 deal.

Jarred and Heather Hagood acquired the house from River Rock Builders LLC, led by Patty and Keith Wingfield. The deal is backed with a 30-year loan of $510,400 from Encore Bank of Little Rock.

River Rock bought the site for $84,000 in December 2019 from PotlatchDeltic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington.

Accadia Court

A 3,135-SF home in west Little Rock’s Accadia Court neighborhood rang up a $546,500 deal. Michael Allwine purchased the house from Robert Woller.

The deal is funded with a 20-year loan of $396,500 from BancorpSouth Bank of Tupelo, Mississippi. Woller acquired the residence for $532,000 in August 2019 from Don and Connie Ellis..

Mountain Crest Estates

A 3,594-SF home in the Mountain Crest Estates neighborhood of northwest Pulaski County drew a $529,900 transaction.

Thackeray Living Trust, led by Richard Thackeray, bought the house from James and Suzanne Carter.

The Carters purchased the 1-acre site for $99,000 in August 2005 from Mountain Crest LLC, led by Skip Davidson.

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