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Watershed Acreage Sale Surpasses $3.5 Million (Real Deals)Lock Icon

4 min read

Woodland covering 460 acres in west Pulaski County weighed in at $3.46 million.

Central Arkansas Water bought the property on the north side of Lake Maumelle from The Woodcrest Co. LLLP, led by James P. Matthews.

Woodcrest provided a four-year mortgage of $2.66 million to finance the deal.

Most of the land was acquired in a purported $6.88 million deal for 292 acres in September 2005 from 2610 Acres LLC, led by Rick and Randy Ferguson.

The rest of the land was purchased from 2610 Acres in a purported $2 million transaction in April 2006 and a $125,000 deal in October 2006.

The land once secured an August 2007 mortgage of $10.6 million originated by Jonesboro’s Liberty Bank of Arkansas.

That mortgage shifted to Centennial Bank of Conway after Liberty’s sale to Home BancShares Inc., Centen-nial’s parent company.

RELATED: Central Arkansas Water Increases Its Holdings in Lake Maumelle Watershed

Office-Warehouse I
A 24,200-SF office-warehouse complex in North Little Rock tipped the scales at $1.1 million.

PKW Group Inc., led by Phil Whisenhunt, purchased the 27-29 Maumelle Curve Court project.

The seller is Smith Building Investment LLC, led by Richard H. Smith.

The deal is funded with a 25-year loan of $1.1 million from BancorpSouth Bank of Tupelo, Mississippi.

The 3.01-acre development was bought for $895,000 in May 2010 from Cardinal LLC, led by Tom Welfel, David Mikus and John Janesky.

Office-Warehouse II
A 35,961-SF office-warehouse in Little Rock changed hands in a $1 million deal. 7511 Scott Hamilton LLC, led by Jason LaFrance, and 16600 CP Properties LLC, led by Walter Ebel, acquired the 7511 Scott Hamilton Drive project in a 65/35 split.

The seller is RDG Exchange Holdings LLC, led by Richard Gray, in a deal backed with a seven-year loan of $345,500 from Relyance Bank of Pine Bluff.

The 3.92-acre development was purchased for $815,000 in September 2007 from John King Jr.

Dollar Deal
A Family Dollar Store in North Little Rock rang up a $985,000 sale.

Michael and Jennifer Reis of Concord, Massachusetts, bought the 5613 MacArthur Drive project from Mainstream Development II LLC of Sulphur, Louisiana.

The deal is financed with a 10-year loan of $640,250 from TruStone Financial Federal Credit Union of Minneapolis.

The 0.78-acre development previously was tied to a February 2018 mortgage of $580,000 held by Trustmark National Bank of Jackson, Mississippi.

The site was acquired for $185,000 in October 2017 from Prater Investments LLC, led by Kenneth Prater.

STT Acquisition
A 13,600-SF service repair garage in east Little Rock drew a $575,000 transaction.

STT Inc., led by Shirley Heatherly, purchased the Thermo King project at 4726 Thibault Road from Michael Rivalto.

The 5-acre development previously was linked with a July 2013 mortgage of $494,934 held by Regions Bank of Birmingham, Alabama.

The land was bought for $30,000 in December 1976 from Chester Baugus Jr., Vernon McKimmey, Patricia Baugus Henry, Susan McKimmey, Lois Baugus Parker, James McKimmey, Verlin Baugus and Perry and Aaron McKimmey.

Multifamily Buy
An 11-unit apartment project in southwest Little Rock is under new ownership after a $285,000 deal.

BSD Investment Properties LLC, led by Brenda Jackson, acquired Silva Creek Apartments at 7117 N. Chicot Road from Bryan and Nancy Silva.

The deal is funded with a five-year loan of $216,936 from Little Rock’s Bank OZK.

The 1.28-acre development previous-ly was tied to a January 2012 mortgage of $256,000 held by One Bank & Trust of Little Rock.

The Silvas purchased the property for $265,000 in March 2005 from Mahmood Qadri and Zohra Sharief.

Office Transaction
A 1,564-SF office building in Little Rock sold for $157,500. Holistic Counseling & Consulting PLLC, led by Shawonda Irby, bought the 1415 S. University Ave. project from Mansell Twillie Jr. and his wife, Jacquelyn.

The deal is backed with a 15-year loan of $133,875 from Regions Bank.

The 0.14-acre development previously was linked with a February 2008 mortgage of $80,000 held by One Bank & Trust.

The Twillies acquired the property for $100,000 in December 2004 from Hillcrest Properties Inc., led by Kelly Johnson.

Edgehill Manor
A 4,039-SF home in Little Rock’s Edgehill neighborhood weighed in at $2.1 million.

Michael Bauer III purchased the house from Diane Davenport Wilder and Barnett Porter Briggs Jr.

The residence previously was tied to a December 2017 mortgage of $1.4 million held by Simmons Bank of Pine Bluff.

The property was bought for $1.7 million in July 2014 from Sherry Worthen.

Broadview House
A 4,086-SF home in Little Rock’s Broadview Terrace neighborhood changed hands in a $737,000 deal.

Ismael and Amber Zamilpa acquired the house from Christopher and Julie Mehlin.

The deal is financed with a 30-year loan of $750,000 from Simmons Bank. The residence previously was linked with an October 2014 mortgage of $400,000 held by One Bank & Trust.

The Mehlins purchased the property for $662,000 in October 2014 from Cloud and Nancy Keyes.

Heights Home
A 2,962-SF home in the Heights area of Little Rock rang up a $649,000 sale.

Graham Strub bought the house from the Ashley B. Jackson Revocable Trust. The deal is funded with a one-year loan of $453,100 from Riverside Bank of Sparkman.

The property was acquired for $635,000 in March 2017 from Michael and Marsha Ballard.

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