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Two Financial Centre Draws $11.3M Sale (Real Deals)

4 min read

A 124,900-SF office building in west Little Rock tipped the scales at $11.3 million.

Two Financial Operating Associates Ltd., an affiliate of BGK Group of Santa Fe, New Mexico, sold Two Financial Centre at 10825 Financial Centre Parkway. The new ownership is divided among Two Financial Centre Holding Co. LLC, an affiliate of the for-profit arm of Baptist Health (Multi-Management Services Inc.), 65 percent; Kelley Commercial Realty LLC, led by Hank Kelley, 18.43 percent; Stephanie Kelley, 6.57 percent; Karen Flake, 5.81 percent; John Flake, 3.56 percent; and the Flake Family Trust, 0.63 percent.

The 3.83-acre development previously was tied to an August 2006 mortgage of $7.9 million held by Southern Farm Bureau Life Insurance Co. of Jackson, Mississippi.

Two Financial Operating bought the four-story office building for $11.1 million in August 2006 from Cooper Financial LLC of Rogers, an affiliate of Cooper Realty Investments Inc.

Child Care Transaction
A 9,000-SF child care facility in Maumelle weighed in at $1.83 million.

Cot Investments of Dos Rios, California, acquired the Childcare Network project at 104 Country Club Parkway from Child Development Schools Inc. of Columbus, Georgia.

The 1.28-acre site was purchased for $345,000 in February 2016 from CCP Development LLC, led by Skip Davidson.

Retail Acquisition
A 15,920-SF retail project in Sherwood drew a $975,000 sale. Baba Ganush LLC, led by William Marfoglio, bought the 6503-6515 Warden Road project from Larry and Kim Vognet.

The deal is financed with a three-year loan of $975,000 from First Arkansas Bank & Trust of Jacksonville. The 1.75-acre development previously was linked with a December 2006 mortgage of $600,000 held by Little Rock’s Bank of the Ozarks.

The Vognets acquired the property for $280,000 in March 1992 from the Federal Savings & Loan Insurance Corp., receiver for Madison Guaranty Savings & Loan Association.

Education Deal
A school in eastern Pulaski County changed hands in an $813,500 transaction.

Academics Plus Charter Schools Inc. purchased the 22.2-acre Scott Elementary School development at 15306 Alexander Road from the Pulaski County Special School District.

Most of the acreage was bought for $17,000 in July 1960 from George and Elaine Alexander and Louie Sanford.

Cruizzers Foreclosure
A west Little Rock car wash rang up a $630,000 foreclosure sale.

Simmons Bank of Pine Bluff recovered Cruizzers Car Wash at 13100 Otter Creek Road from Cornett Enterprises Inc., led by Roger and Paula Cornett. The bank obtained a $1.1 million judgment in August stemming from an October 2004 loan of $980,000 inherited from Delta Trust & Bank of Little Rock.

Cornett Enterprises purchased the 1.32-acre location for $275,000 more than 12 years ago from Highway 5/Otter Creek Investments LLC, led by Gene Cauley.

Med Office Purchase I
A 1,688-SF medical office in midtown Little Rock is under new ownership after a $286,000 deal.

IDRG Property Management LLC, led by Brandon Walser, bought the first-floor space in the Parkview Medical Building at 1 St. Vincent Circle from the Fernando & Steff Padilla Revocable Trust.

The deal is backed with a five-year loan of $243,100 from First Security Bank of Searcy.

The space was acquired for $101,000 in January 1988 from Medical Arts Associates, led by Dr. Troy Barnett and Dr. Fernando Padilla.

Med Office Purchase II
A 2,127-SF dental office building in the Hillcrest area of Little Rock sold for $250,000.

Malvi Acquisitions LLC of Concord, Massachusetts, purchased the 5500 W. Markham St. project from T.W.L.R. LLC, led by Tracy Windham.

The 0.15-acre development previously was tied to a January 2005 mortgage of $166,000 held by Arvest Bank of Fayetteville.

Windham bought the property for $115,000 in March 1996 from George and Barbara Beene.

Heights Manor
A 5,091-SF house in the Country Club Heights neighborhood tipped the scales at $1.35 million.

The Karen E. Flake Revocable Trust acquired the house from Chuck Hamilton Construction Inc.

The residence previously was linked with a June 2009 mortgage of $1 million held by One Bank & Trust of Little Rock.

The property was purchased for $310,000 in September 2008 from Rupert Blakely, Angela B. Ross and Angela B. Banks.

Quapaw Manor
A 7,323-SF manor in Little Rock’s Quapaw Quarter drew a $910,000 transaction.

Andrew Somers III and his wife, Sarah, bought the house from the Thomas Clyde Wittenberg & Lillian Phillips Wittenberg Joint Revocable Trust.

The deal is funded with a 30-year loan of $637,000 from IberiaBank of Lafayette, Louisiana.

The home previously was tied to a November 2009 mortgage of $417,000 held by Bank of Little Rock Mortgage Corp.

The Wittenbergs acquired the residence for $725,000 in September 2007 from James and Carla Davis.

Riverbend Residence
A 3,150-SF home in Little Rock’s Riverbend neighborhood changed hands in an $830,000 deal.

William and Peggy Marshall purchased the house from JSW Properties LLC, led by Jane Stewart Gillespie.

The deal is financed with a one-year loan of $841,653 from Simmons Bank.

The residence was bought for $290,000 in June 1993 from Virginia and H.A.T. Bailey.

Accadia House
A 5,100-SF home in the Accadia Court neighborhood of west Little Rock’s Chenal Valley development rang up a $770,813 sale.

Shariq and Sara Tariq acquired the house from The Wilson Co., led by Janet Dillon. The deal is backed with a 30-year loan of $417,000 and a seven-year loan of $160,500 from One Bank.

The location was purchased for $94,000 in October 2014 from Deltic Timber Corp. of El Dorado.

Club House
A 3,050-SF home near the Country Club of Little Rock is under new ownership after a $750,000 transaction.

Ten Timber & Wildlife LLC, led by Leon Catlett II, bought the house from the Lois L. Park Revocable Trust.

The Park family acquired the property for $1,200 in deals with James and Lecila Hewitt in February 1945 and Mary Rowan et al in May 1945.

Robinwood Abode
A 4,042-SF home in Little Rock’s Robinwood neighborhood sold for $568,000.

Barbara Samuels and Nancy Ryburn purchased the house from Steven Williams. The residence was bought for $467,000 in June 2010 from Pat and Stephanie O’Donnell.

Seven-Digit Construction

Renovation    $2,000,000
Country Club of Little Rock
4200 Country Club Road
East Harding Inc., Little Rock

Cornerstone Clinic     $1,992,144
9500 Baptist Health Drive, Little Rock
Bailey Construction & Consultants LLC, Little Rock

New Home    $1,650,000
2317 N. Palm St., Little Rock
Fred Lord Builder Inc., Little Rock

Dairy Queen Grill & Chill    $1,384,455
6100 W. 12th St., Little Rock
VCC LLC, Little Rock

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