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Warehouse Development Draws $9.3M Transaction (Real Deals)Lock Icon

5 min read

A five-building, 177,626-SF warehouse complex in west Little Rock weighed in at $9.34 million.

New ownership of Shackleford Corporate Center at 4201-4217 S. Shackleford Road is divided among RSH Investments LLC, led by Robert Stephens, and Beaverdale Investments LLC, led by Matthew Klimisch, 23.75 percent each; 4201 Shackleford Investment LLC, led by Drew Holbert, 20 percent; Oakdale Holdings LLC, led by John Lenochan, 15 percent; DNG Real Estate LLC, led by David Glasgow, 10 percent; Grandview Holdings LLC, led by Jason Hammock, 7.5 percent.

The sellers are SCC Properties LLC, led by the Ernie T. Moore Family Ltd., $4.67 million; ELAD LLC, led by Stephen LaFrance Jr., $4.15 million; and SalCor LLC, led by Ryan Solomon, $517,000.

The deal is financed with a 10-year loan of $6.8 million from Relyance Bank of Pine Bluff. The 12.46-acre development previously was tied to a May 2011 mortgage of $2.1 million held by First Security Bank of Searcy and a February 2015 mortgage of $2.2 million held by Relyance.

ELAD bought a 50 percent stake for $3.8 million more than three years ago from CDFP CM-SCC Investment LLC, led by Russell McDonough III.

CDFP and SCC Properties acquired the project for $6.4 million in June 2007 from Cooper Commercial Properties III, led by Dewitt Smith III.

Slice of The Grove
Portions of a 225-unit apartment project in west Little Rock changed hands in a transaction valued at $1.4 million.

Grove at Pleasant Valley Investors LLC, an affiliate of Canyon View Capital of Santa Cruz, California, sold part of its 25 percent stake in its namesake multifamily project at 11900 Pleasant Ridge Road.

The buyers are Erik and Lesley Gundersen, 11.8 percent, and Many Properties LLC, led by Roland Many, 6.2 percent.

The ownership now is divided among OS Grove SPE LLC, led by Gary Rauscher, 31.7 percent; Grove at Pleasant Valley Investors LLC, led by Rauscher, 7 percent; Loren and Amanda Gundersen, 12.5 percent; Karen L. Hovekamp Trust and Lisa H. Jensen Trust, 11.5 percent each; RSJ Cameron LLC, led by Rodney Stewart, 4.5 percent; and the namesake trust of Paul and Susan Germeraad, 3.3 percent. Gary Rauscher is president of Canyon View Capital.

The 24.1-acre development was purchased for $19 million six months ago from Vintage Pleasant Valley LLC of Shreveport.

Apartment Acquisition
A 27-unit apartment project in downtown Little Rock sold for $850,000.

Mac Park Place LLC, led by Joshua and Jennifer Malone, acquired Park Place Apartments at 916 Commerce St. The seller is Artist Place LLC, led by Janet Dillon, Tim Heiple and Fred Gray.

The deal is funded with a five-year loan of $672,500 from Arvest Bank of Fayetteville.

The 0.56-acre development previously was linked with a July 1999 mortgage of $673,000 originated by Little Rock’s Central Bank & Trust.

The former condominium project was purchased 19 years ago for $60,000 after a 1998 fire left it a burned-out shell. The investors took the insurance proceeds and sold rather than rebuilding.

The sellers were Herman Bemberg Jr. and his wife, Lois; Ruth Eckhardt; Doris Howell; Teresa Sexton, Beverly Sexton, Dwayne and Brenda Sexton and Robert and Kelly Wallace; Claude and Barbara Carpenter; Dale and Cheryl LeStourgeon; Kenneth Leitch Sr. and his wife, Cornelia; Mark and Jerri Bentley and Walter Ebel III; J.W. and Elizabeth Strawn; Judith M. Gardner; Kenneth and Christina Leitch Jr.; Wooten and Kathleen Epes; the Tommy Holland Revocable Trust and Tommy and Judy Holland; Brenda Lambert-Wiegmann; Jack and Jacque Eslick; June B. Freeman Revocable Trust; Tamara Lynn Gries; Babbie Lovett; Patrick Caviness; Donald K. Campbell II Trust; and Beth Larue Cook.

Duplex Transaction
Eight duplexes in west Little Rock are under new ownership after a $490,000 transaction.

R&D Holdings LLC, led by Mark Reynolds and Tyler Denton, bought the properties at 2104-2116 and 2105-2117 Scotty Court.

The seller is FJ Enterprises Inc., led by Frederick Black and Jimmy Langston.

The deal is backed with a $392,000 loan from Riverside Bank of Sparkman (Dallas County).

The property was acquired for $264,000 in January 1998 from Barbara Bova.

Longfellow Abode
A 2,791-SF home in the Heights area of Little Rock tipped the scales at $2.25 million.

423 Property Holdings LLC, led by Warren Stephens, purchased the house in the Longfellow neighborhood from Dolph Moore Jr. and his wife, Blanche.

The Moores bought the residence for $350,000 in June 1987 from J.W. Benafield.

Bretagne Manor
A 4,870-SF home in the Bretagne Circle neighborhood of west Little Rock’s Chenal Valley development rang up an $864,000 sale.

Christian and Tammy Hester acquired the house from Jason and Melanie Smith. The deal is financed with a 30-year loan of $750,000 from IberiaBank of Lafayette, Louisiana.

The residence previously was tied to a February 2015 mortgage of $544,000 held by Wells Fargo Bank of Sioux Falls, South Dakota.

The Smiths purchased the property for $681,000 more than three years ago from William and Jane Whelpley.

Country Residence
A rural 160-acre spread in north Pulaski County drew an $850,000 transaction.

Central Arkansas Ranch & Timber Co. LLC, led by Tom Salmon, bought the 1,643-SF home and land a couple of miles west of Cabot from the namesake living trust of David and Linda George.

The Georges acquired the property for $8,100 in April 1959 from the heirs of Leonard Johnson.

Hallen Home
A 3,198-SF home in west Little Rock’s Hallen Court neighborhood changed hands in a $575,000 deal.

Michael and Tina Talbert purchased the house from Chase and Casey Rackley. The deal is funded with a 10-year loan of $325,000 from Eagle Bank & Trust of Little Rock.

The residence previously was linked with a September 2015 mortgage of $465,000 held by Crain Family Holdings LLC, led by Larry Crain Jr., and an August 2016 mortgage of $417,000 held by Primary Residential Mortgage Inc. of Salt Lake City.

The location was bought for $98,000 in July 2014 from Deltic Timber Corp. of El Dorado.

Hickory Grove
A 3,600-SF home in west Little Rock’s Hickory Grove neighborhood sold for $550,000. Jeffrey Robertson and Michelle Jupin bought the house from Markus Homes Inc., led by Melinda Markus.

The deal is backed with a 30-year loan of $550,000 from Regions Bank of Birmingham, Alabama.

The residence previously was tied to a January 2017 mortgage of $472,000 held by First Security Bank. The land was acquired in July 2003 as part of a $725,000 deal with First Baptist Church.

Courts House
A 4,070-SF home in The Courts neighborhood of west Little Rock is under new ownership after a $502,000 deal.

Ethan and Katie Branscum purchased the house from Douglas and Kimberly Buchholz. The deal is funded with a 30-year loan of $280,000 from Simmons Bank of Pine Bluff.

The residence previously was linked with a November 2016 mortgage of $402,200 held by USAA Federal Savings Bank of San Antonio.

The property was bought for $470,000 in October 2015 from David McCulley II and his wife, Brooke.

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