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Versailles Apartments Attracts $39M Sale (Real Deals)Lock Icon

3 min read

The 217-unit former Fountaine Bleau North apartment complex in North Little Rock weighed in at $39 million.

A group of nine limited liability companies, managed by Martin Kirzner and Harry Klein of Brooklyn, New York, bought The Versailles Apartments at 4401 E. 46th St.

The seller is PCFB Little Rock LLC, an affiliate of Peak Capital Partners of Provo, Utah.

The new ownership group assumed the balance of a January 2020 loan of $26 million from Berkadia Commercial Mortgage LLC of Horsham, Pennsylvania.

PCFB purchased the 12.02-acre development for $34.1 million 26 months ago from Burkhalter FBN LLC, led by John Burkhalter.

Beef-a-Roo Eatery

The first Beef-a-Roo restaurant in Arkansas is in the works after a $1.5 million transaction in west Little Rock started things rolling.

US Realty Acquisitions LLC of Dallas acquired the 3,544-SF former Krispy Kreme at 1315 S. Shackleford Road from Crain Family Holdings LLC, led by Larry Crain Jr.

US Realty then sold the property for a reported $2.7 million to Vision Acquisitions LLC of Essex Junction, Vermont.

The deal is financed with a five-year loan of $2 million from Simmons Bank of Pine Bluff.

Crain Family Holdings bought the 0.67-acre development for $1.1 million in December 2021 from SVCN 2 LLC, an affiliate of the RMR Group in Newton, Massachusetts.

Burger-Office Combo

A 9,364-SF home of a David’s Burgers and office space in Maumelle tipped the scales at $1.42 million.

Varadero Properties LLC, led by the Leonardo & Cristina Monterrey Trust, purchased the 102 Country Club Parkway project from Atkinson Properties LLC, led by Russell and Ric Atkinson.

Atkinson Properties provided a three-year mortgage of $1.1 million to fund the deal.

Varadero acquired the 1.27-acre development for $1.4 million in January 2017 from Anchor Realty Investments LLC, led by Alan Bubbus.

Timberland Purchase

A 349-acre tract in south Pulaski County changed hands in a $902,271 deal.

DTOF AR LLC, an affiliate of Domain Timber Advisors in Atlanta, bought the property along a 1.5-mile stretch on the west side of Interstate 530 near the Saline County line.

The seller is Regions Southeast Timber Fund II LLC of Birmingham, Alabama.

Regions Southeast purchased the land for $530,196 in January 2014 from Ten Mile Properties LLC, led by Philip Tappan.

Hotel Location

A 2.61-acre commercial site in North Little Rock rang up a $850,000 sale.

LG APT AR North Little Rock LLC, an affiliate of stayAPT Suites in Matthews, North Carolina, acquired the future hotel location on the east side of Richards Road less than a half-mile south of McCain Boulevard. The seller is Woodcrest Co. LLLP, led by James Patrick Matthews.

The land was bought in August 1959 as part of a $250,000 deal with Fred and Katherine Watkins.

Whataburger Site

A 2.87-acre commercial parcel in North Little Rock drew an $800,000 transaction.

CypressLandingQSR3 LLC, led by Rickey Wilson, purchased the future Whataburger location at 13401 Crystal Hill Road from Lilac LLC, led by Andy Collins.

The deal is backed with a one-year loan of $3.1 million from Citizens Bank of Batesville.

The property had been owned by the Justin Matthews family for more than 100 years. Lilac represents a big branch of the family tree.

Office-Warehouse Buy

A 17,060-SF office-warehouse in the Woodyardville community is under new ownership after a $730,000 deal.

Highway Graphics LLC of West Monroe, Louisiana, bought the 625 W. Dixon Road project from Cajaco LLC, led by Judith Cozart and Chris Cozart. 

The deal is financed with a five-year loan of $584,000 from Origin Bank of Choudrant, Louisiana.

The 1.84-acre property was purchased for $22,000 in April 1985 from Helen Russenberger Tatem.

Office Transaction

A 21,813-SF office complex in south Little Rock sold for $300,000.

Little Rock Compassion Center Inc. acquired the former home of the Arkansas Geological Survey at 3815 W. Roosevelt Road.

The seller is the Arkansas Department of Energy & Environment, led by Shane Khoury.

The state of Arkansas had owned the 3.57-acre property for more than 120 years.

The land was part of the 15-acre site of a penitentiary known as “The Walls,” which closed in 1933.

Golf Acquisition

A 100-acre golf property in south Pulaski County changed hands in a $250,000 deal.

Burrnation LLC, led by Alandise Harris, purchased the Golf of Castle Valley project at 8500 Castle Valley Road. 

The seller is One By One Inc., led by Robbie Wilson.

The deal is funded with a three-year loan of $212,500 from First Arkansas Bank & Trust of Jacksonville.

The former Lakeview Golf & Country Club property was acquired in September 2020 as part of a $297,000 deal with Clifton Family LLLP, led by Norman Clifton.

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