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Wellington at Chenal Acquired for $23.6M (Real Deals)Lock Icon

4 min read

A 176-unit apartment complex in west Little Rock tipped the scales at $23.6 million.

15000 Chenal Parkway LLC, an affiliate of CALCAP Advisors in Pasadena, California, bought its namesake address home to The Wellington at Chenal. The seller is Wellington Acquisition LLC, an affiliate of Maxus Properties in North Kansas City, Missouri.

The deal is financed with a 10-year loan of $12.6 million from Orix Real Estate Capital LLC of Columbus, Ohio.

The 12.22-acre development was purchased for $17.8 million in June 2018 from Wellington Prinwood LLC, an affiliate of Aspen Square Management Inc. of West Springfield, Massachusetts.

The Lakes Purchase

A 70-unit convalescent hospital in Maumelle weighed in at $6.07 million.

Gar Co Re LLC, an affiliate of Reliance Health Care in Conway, acquired The Lakes at Maumelle at 103 Alexandria Road from Maumelle Property Investment LLC of Chattanooga. 

The deal is funded with a five-year loan of $9.9 million from Centennial Bank of Conway.

Maumelle Property bought the 4.21-acre development for $3.8 million in September 2007 from Osborne Development Ltd., led by Gwen Osborne.

Slim Acquisition

A 2,676-SF fast-food project in Jacksonville rang up a $2.99 million sale.

Robert Johnston Jr. and his wife, Valerie, purchased the Slim Chickens at 18070 John Harden Drive from Haag-Brown Encore Holdings LLC, led by Greg Haag.

Haag-Brown acquired the 0.87-acre site in December 2021 as part of a $711,770 deal with Wal-Mart Real Estate Business Trust of Bentonville.

Coffee Development

Construction of a 7 Brew Coffee shop in Little Rock is in motion after a $1.35 million deal.

TWCS Properties LLC, led by Thomas Schmidt, bought the former bank branch site at 8023 Cantrell Road from Commreal LLC, led by Clinton Bennett.

The deal is backed with a five-year loan of $1.2 million from Citizens Bank of Batesville. The 0.89-acre location was purchased for $700,000 in November 2021 from Regions Bank of Birmingham, Alabama.

Office-Warehouse Sale I

A 32,243-SF office-warehouse in North Little Rock drew a $757,500 transaction.

The city of North Little Rock acquired the former home of the Argenta Alternative School at 1301 Main St. from Terraforma LLC, led by David Bruning and Doug Meyer.

Terraforma bought the 2.07-acre development in September 2015 as part of a $250,000 deal with the North Little Rock School District, led by Kelly Rodgers.

Office Transaction

A 6,704-SF office building in west Little Rock sold for $610,000.

Low Key LLC, led by Penny Jester and Corey Tinkle, purchased the 100 Gamble Road project from Magnola Gamble Ark. LLC, led by Nola Gamewell.

The deal is financed with a 10-year loan of $488,000 from Merchants & Farmers Bank of Dumas.

Magnola Gamble acquired the 0.38-acre development for $560,000 in December 2019 from Sustainable Properties LLC, led by Matt Bell.

Office-Warehouse Sale II

A 7,320-SF office-warehouse near the Woodyardville community on the southern outskirts of Little Rock is under new ownership after a $407,500 deal.

McGeorge Contracting Co., led by Haskell Dickinson II, bought the 408 Dixon Road project from Kota Construction Inc., led by John Johnson.

Kota purchased the 1.68-acre development for $275,000 in April 2012 from Clyde Fish Jr. and his wife, Glenda.

Bark Bar Tab

A 3,502-SF canine-centric tavern in downtown Little Rock changed hands in a $385,000 sale. Rainwater Properties LLC, led by Bryan Hosto, acquired the Bark Bar at 1201 Spring St. from Adam and Amanda Day.

The Days bought the 0.16-acre development for $250,000 in October 2015 from Walker-Wisdom LLC, led by Bobby Wisdom.

WLR Property I

A 3.2-acre commercial site in west Little Rock rang up a $280,500 sale.

United Traders Inc., led by Nadia Abunasrah, purchased the land near the southwest corner of Stagecoach Road and Westfield Drive. The seller is Good Earth Investments LLC, led by Mark Waldrip.

The deal is funded with a five-year loan of $280,000 from Partners Bank of Helena-West Helena.

Good Earth Investments acquired the property for $225,500 in December 2016 from Barbara Jean Pierce.

WLR Property II

A 1.1-acre commercial site in west Little Rock drew a $205,000 transaction.

Acadia Properties LLC, led by Ali Raja, bought the land near the southeast corner of Huron Lane and Green Mountain Drive. The seller is Signal Media of Arkansas Inc., led by Terri Mahan.

The deal is backed with a three-year loan of $153,750 from Little Rock’s Bank OZK.

Signal Media purchased the property in May 2007 as part of a $540,000 deal with Tynez Inc., led by Nezih Erkman.

Country Club Manor

A  7,266-SF home in the Country Club Heights neighborhood tipped the scales at $9 million. DFW Hawthorne 2800 LLC, led by Warren Stephens, acquired the house from Briland Enterprises LLC, led by Jonathan Dyke; and Topview II Holdings LLC, led by Merritt Dyke.

Briland and Topview were originally led by James and Helen Dyke.

They created the 1.5-acre residential spread through two teardowns following deals with the Karen E. Flake Family Qualified Personal Residence Trust, $1.2 million for a 5,574-SF home in November 2004; and Frank B. Whitbeck, $2.5 million for a 4,400-SF residence in February 2009.

Palisade Estates

A 6,178-SF home in Cammack Village’s Palisade Estates neighborhood weighed in at $1.23 million.

Virginia and Charles Crocker Jr. purchased the house from Benjamin and Jennifer Bienvenu. The deal is financed with a 30-year loan of $647,500 from Encore Bank of Little Rock.

The Bienvenus acquired the residence for $599,000 in September 2020 from the Deborah K. Brown Revocable Trust.

Falstone Court

A 4,063-SF home in west Little Rock’s Falstone Court neighborhood sold for $1.12 million.

Jason Vangilder and Isabel Hunt bought the house from Chenal Valley Construction Inc., led by James Miles.

The deal is funded with a 30-year loan of $350,000 from Bank of Little Mortgage Corp. The site was acquired for $120,000 in March 2021 from PotlatchDeltic Real Estate LLC.

Riverview Manor

Nolan and Barbara Rushing purchased a 4,173-SF home for $1.6 million in Little Rock’s Riverview Manor neighborhood from the Donna Kay Clark Trust.

The trust bought the residence for $1 million in March 2018 from Gene and Kimberly Graves.

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