A 33,720-SF office building in west Little Rock changed hands in a $1.8 million transaction.
KRL Properties LLC, led by Mark and Kim Leverett, bought the 324 Executive Court Building from Herbert and Barbara James. The deal is funded with a five-year loan of $2 million from One Bank & Trust of Little Rock.
The 2.3-acre development previously was linked with a November 2006 mortgage of $1.5 million from Everbank of Jacksonville, Fla.
The James family acquired the property for $1.8 million more than five years ago. The sellers were Alex and Lee Ann Dietz, John and Karen Flake, Hank Kelley, Brandon Rogers, Matt Warner, Susan Warner Skelsey, Randy Warner III, Jane Warner Moore, Katherine Warner Ross and WPM Properties LLC, led by Ed Wryobech, Stan Parks and Michael Miller.
The building was acquired for $2.25 million in November 1998 from Ensco Inc., owned by Brambles USA Inc.
Jacksonville Purchase
A 5,000-SF automotive shop in Jacksonville is under new ownership after a $260,000 sale. RNR Investments LLC, led by Donald Parker, purchased the 601 N. JP Wright Loop Road project.
The sellers are Larry and Deborah Levy.
The 1.02-acre development previously was tied to a May 2004 mortgage of $80,000 originated by Pulaski Bank & Trust of Little Rock and an October 2010 mortgage of $180,000 held by Metropolitan National Bank of Little Rock.
The location was bought for $80,000 nearly seven years ago from M.D. and Harryette Graham.
Church Mortgage
Two church properties in Little Rock and North Little Rock were used to secure a $2.3 million financial package.
Airport Church of Christ obtained the 20-year loan from Foundation Capital Resources Inc. of Springfield, Mo.
The former Dixie Church of Christ emerged from a Chapter 11 bankruptcy reorganization filed in August 2009.
The 5-acre development at 8000 E. Port Drive previously was linked with a July 2003 mortgage of $1.89 million. The loan was originated by Colonial Trust Co. of Phoenix.
The new mortgage also is secured by a 0.3-acre property at 916 N. H St. in North Little Rock.
The Little Rock property was acquired for $318,000 in January 1999. The seller was Walthour Flake Co., led by Dickson Flake.
The North Little Rock property was purchased for $2,500 in February 1963 from Major Johnson.
Construction Funding
Construction of a 6,500-SF office building in Little Rock’s Riverdale area is in motion with an $857,007 loan.
Mart Drive LLC, led by Wayne Moore and Philip Tappan, received the funding from Delta Trust & Bank of Little Rock.
The 0.75-acre location at 1401 Mart Drive previously was tied to a December 2009 mortgage of $145,000 held by the bank.
The property was bought for $145,000 in December 2009 from Alltel Corp.
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