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Summit House Hosts $20.1M Sale (Real Deals)Lock Icon

4 min read

A 165-unit apartment project in midtown Little Rock weighed in at $20.1 million.

Highland Midtown Apartments LLC and Thorson Highland Midtown LLC, both of Wilmette, Illinois, purchased the Summit House at 400 N. University Ave.

The seller is Summit House LLC, an affiliate of DavisRE in Dallas and Cayman Ventures LLC, an affiliate of Grander Capital Partners of Dallas.

The deal is financed with a $17.9 million funding agreement from Ready-Cap Commercial LLC of Irving, Texas.

The 4.03-acre development was bought for $10.7 million in June 2017 from Summit House Apartments Ltd., an affiliate of the Goodman Group in Chaska, Minnesota.

Retail Transaction

A 10,500-SF neighborhood retail center in North Little Rock tipped the scales at $1.39 million.

CP Maumelle Realco LLC, led by James Keet IV, acquired the 10800 Maumelle Blvd. project from the Janet L. Mitchener Living Trust.

The deal is backed with a five-year loan of $1.3 million from Relyance Bank of Pine Bluff.

The 1.02-acre site was purchased for $84,000 in October 1986 from Bryan Burkhalter.

Convenient Property

A 3,850-SF convenience store in North Little Rock drew a $1.2 million transaction.

Rose City Convenience LLC, led by Bharatbhai Hamirani and Mantej Singh, bought the A to Z project at 4614 E. Broadway from Young and Nam Kim.

The deal is funded with a 25-year loan of $1.1 million from First IC Bank of Doraville, Georgia.

The 0.39-acre development was acquired for $970,000 in April 2007 from Jenny Kang.

Trailers for Rent

Two small trailer parks in southwest Little Rock sold for $815,000.

M&T Coffer & Community LLC and MHCI Partners LLC, both of New Smyrna, Georgia, purchased the 2.13-acre Community Lane Mobile Home Park at 3824 Community Lane and Spencer Mobile Home Park at 3412 Coffer Lane.

The seller is Myatt Realty LLC, led by Doyle and Carolyn Johnson.

The deal is financed with a one-year loan of $690,622 from First Community Bank of Batesville.

Myatt Realty bought the properties for $725,000 in June 2016 from CJC2015 LLC, led by Sheila Carroll.

Office-Warehouse Buy

An 8,100-SF office-warehouse in North Little Rock is under new ownership after a $725,000 deal.

JDT Properties LLC, led by Wade Timmerman, acquired the Alliance Technologies project at 7051 Dewaffelbakker Drive from Kevin Horton Properties LLC. The deal is backed with a six-month loan of $656,997 from Stone Bank of Mountain View.

The 0.99-acre development was purchased for $645,000 in March 2020 from Hill Properties Inc., led by Brad Hill.

Roofing Acquisition

A 7,071-SF commercial complex in Sherwood rang up a $525,000 sale.

Raintight Roofing Inc., led by Randall Hindman, bought the former home of C&S Tractor Sales & Equipment at 15501 Hwy. 107.

The seller is Kellogg Valley Realty LLC, led by Joyce Stewart and Carolyn Cunningham.

The deal is funded with a $420,000 loan from Centennial Bank of Conway.

Kellogg Valley assembled the 4.12-acre property in deals with Harold Walker II, $225,000 in January 2003; and William and Bette Mergenschroer, $23,000 in January 2004.

Acreage Purchase

A 37.28-acre tract in west Pulaski County changed hands in a $410,740 deal.

Laura Pie LLC, led by Laura Medders, purchased the land at 2600 Beauchamp Road from the Robert & Ednita Tice Living Trust.

The property was bought for $10,000 in June 1968 from John and Bonnie Gillmore.

Apartment Deal

A four-plex in downtown Little Rock drew a $315,000 transaction.

Red Crown Bottling Co. LLC, led by Jill Judy and Mark Brown, acquired the 1107 Cumberland St. project from Rene Sparrow. The deal is backed with a five-year loan of $429,250 from Armor Bank of Forrest City.

Sparrow purchased the 0.16-acre development for $120,000 in January 2002 from the Lula Algee Richards Inter Vivos Revocable Trust.

Valley Falls Estates

A 7,382-SF home in west Little Rock’s Valley Falls Estates neighborhood weighed in at $1.75 million.

Antoine and Jessica Lucas bought the house from David Nagy.

The deal is funded with a 30-year loan of $1.4 million from FirstTrust Home Loans Inc. of Sheridan. Nagy acquired the residence for $1.2 million in April 2020 from Gene Ludwig.

Hallen Court

A 3,866-SF home in west Little Rock’s Hallen Court neighborhood tipped the scales at $1.07 million.

Michael and Catharine Alford purchased the house from Jay & Mae Home LLC, led by Jay and Magen Stewart. The deal is financed with a 30-year loan of $752,500 from Bank of America in Charlotte, North Carolina.

The location was bought for $139,000 15 months ago from PotlatchDeltic Real Estate LLC.

Heights Home

A 4,083-SF home in the Heights area of Little Rock sold for $830,000.

Arunkumar Modi and Shruti Tewar acquired the house from Brittany and Gregory Wood. The deal is backed with a 30-year loan of $664,000 from FirstTrust Home Loans.

The Wood family purchased the residence for $739,900 in February 2017 from Jonathan and Jennifer Bricker.

Bretagne Circle

A 4,474-SF home in west Little Rock’s Bretagne Circle neighborhood is under new ownership after a $779,000 deal.

Bradley and Melissa Sims bought the house from Charles and Lynda Weir.

The deal is funded with a 30-year loan of $548,250 from Bank of Little Rock Mortgage Corp.

The Weirs acquired the residence for $630,000 in March 2001 from Thomas and Heather Schneider.

Cliffewood House

A 3,152-SF residence in Little Rock’s Cliffewood neighborhood rang up a $750,000 sale.

Ryan and Caris Fitzgerald purchased the house from Robert Young.

The deal is financed with a five-year loan of $750,000 from Citizens Bank of Batesville.

Young bought the home for $115,000 in October 1982 from James and Mary Jane Madigan.

Robinwood Residence

A 3,893-SF home in Little Rock’s Rob-inwood neighborhood changed hands in a $615,000 deal.

Stephen and Allison Hester acquired the house from Norton Pope. The deal is backed with a 30-year loan of $548,250 from Simmons Bank of Pine Bluff.

The residence was purchased for $110,000 in April 1975 from Mary May.

Lamarche Place

A 4,493-SF home in west Little Rock’s Lamarche Place neighborhood drew a $605,000 transaction.

Mark Mack Sr. and his wife, Lisa, bought the house from James and Khristen Brewster. The deal is funded with a 30-year loan of $514,250 from Nationstar Mortgage LLC of Dallas.

The Brewsters acquired the house for $536,500 in October 2015 from Shelly Stevenson.

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