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WLR Apartment Combo Produces $22.1M Sale (Real Deals)Lock Icon

5 min read

Two west Little Rock apartment projects weighed in at a combined $22.15 million.

Bailey Properties LLC, an affiliate of Little Rock’s BSR Trust LLC, sold the 256-unit Waterford Apartments project at 701 Green Mountain Drive for $18.15 million and the 72-unit Bowman Heights project at 420 Markham Mesa Place for $4 million.

The buyers are AndMark Waterford Apartments LLC and AndMark Bowman Heights Apartments LLC, affiliates of the AndMark real estate investment firm of Los Angeles.

The 13.15-acre Waterford development and the 3.54-acre Bowman Heights development previously were linked with June 2002 and October 2012 bond issues of $7.5 million through the Pulaski County Public Facilities Board.

The Waterford project was purchased for $6.85 million in March 1993 from BRW Real Estate Operating Ltd. of Dallas.

The Bowman Heights project was bought for $1.36 million in July 1994 from Resource Capital Development Corp., led by Dr. C.D. Williams and his wife, Anna, and David and Kay Jones.

Kum & Go Buy

A sale-leaseback of a super convenience store in Jacksonville tipped the scales at $6.2 million.

BHG Investment LLC of Turbeville, South Carolina, acquired the Kum & Go at 1501 W. Main St. for $6.2 million. The seller is KG Store 138 LLC, an affiliate of the Des Moines, Iowa, convenience store chain.

The deal is backed with a 10-year loan of $4 million from First Internet Bank of Indiana in Fishers.

The 1.72-acre development previously was tied to a September 2018 mortgage of $3.8 million held by First National Bank of Omaha, Nebraska.

The location was purchased for $1.68 million in June 2018 from SNR Consulting LLC of Chesterfield, Missouri.

Retail Sale

A 6,960-SF retail project in North Little Rock rang up a $1.52 million sale.

Lyndle and Heather McCurley bought the property at 4530 McCain Blvd. from Regal Properties LLC, led by Muhammad Almahayni.

The deal is financed with a 15-year loan of $1.2 million from Arvest Bank of Fayetteville.

The 0.76-acre development previously was linked with a September 2013 mortgage of $600,000 held by Cross County Bank of Wynne.

Regal Properties acquired the project for $1.4 million in November 2007 from McCain Investments LLC, led by David Flis.

Land Acquisition

A 26.5-acre tract in west Little Rock changed hands in a $930,000 deal.

Todd and Carol Witham purchased the land at the northwest corner of Shackleford and West Rockwood roads from Garrett Bosley Jr. and his wife, Jennifer, and Brennan and Keri Bosley.

The property previously was tied to a June 2018 mortgage of $1 million held by Centennial Bank of Conway.

Ownership of the property shifted to the Bosleys in February 2010 from the namesake revocable trusts of P.E. and Melba Munnerlyn.

The Munnerlyns bought sole ownership of the land in a series of transactions beginning in February 1957 with a $33,342 deal for a 20% stake. The sellers were Mary R. Toney, Samuel Raines, E.E. Raines and Jane R. McKimmey.

That was followed in June 1977 with a $44,000 deal for another 20% stake with the final 60% transferring in May 1984.

Empress Purchase

A 7,128-SF bed-and-breakfast in downtown Little Rock sold for $825,000.

Fig Tree Investments LLC, led by Antonio Figueroa, acquired the Empress of Little Rock at 2120 Louisiana St. and an adjoining 1,581-SF house at 212 W. Second St. from Robert and Sharon Blair.

The deal is funded with a 19-year loan of $420,000 and a six-month loan of $284,727 from Citizens Bank of Batesville.

The 0.36-acre Empress property previously was tied to a November 2004 mortgage of $450,000 held by BancorpSouth Bank of Tupelo, Mississippi. The project was bought for $163,000 in December 1993 from Bill Brown Plumbing Co.

The 212 W. Second property previously was linked with a July 2004 mortgage of $175,000 held by IberiaBank of Lafayette, Louisiana, and a January 2016 mortgage of $165,000 held by Little Rock’s One Bank & Trust.

The Blairs purchased the property for an unrecorded sum in April 1998 from the U.S. Department of Housing & Urban Development.

NLR Office

A 3,599-SF office building in North Little Rock drew a $340,000 transaction.

Clay Properties LLC, led by Parker Clay, bought the 5600 JFK Blvd. project. The seller is 5600 JFK LLC, led by Sharon Adkins.

The deal is backed with a 26-year loan of $272,000 from BancorpSouth Bank.

The 0.24-acre development was acquired for $353,000 in March 2002 from Joseph and Mary Gutherie.

Hickory Hills

A 6,690-SF home in west Little Rock’s Hickory Hills neighborhood weighed in at $1.51 million.

Emily and Anthony Johnson purchased the house from the namesake living trust of Chad and Kelly Baker.

The Bakers bought the residence for $1.2 million in December 2014 from Beatrice Chapman.

Pinnacle Valley

A 3,839-SF home in the Pinnacle Valley neighborhood of west Pulaski County is under new ownership after a $825,000 deal.

David and Laura Hum acquired the nearly 7-acre residential spread from Kenneth and Sarah Adams. The deal is financed with a 30-year loan of $660,000 from Centennial Bank.

The property previously was tied to an August 2016 mortgage of $417,000 held by Simmons Bank of Pine Bluff.

The location was purchased for $200,000 in June 2015 from Hatcher Enterprises Inc., led by Greg Hatcher.

Rural Residence

A 5,766-SF home in the Ruth Ann Lane neighborhood of west Pulaski County rang up a $750,000 sale.

Robbie Cash bought the 5-acre residential spread from Justin and Jennifer Hamrick. The deal is funded with a one-year loan of $550,000 from First National Bank of Paragould.

The residence previously was linked with a $203,600 mortgage held by Riverside Bank of Sparkman.

The Hamricks acquired the house for $499,000 in December 2013 from Joseph Trieschmann.

Club House

A 2,216-SF home near the Country Club of Little Rock changed hands in a $600,000 deal.

The MRT Management Trust, led by Mary Ross Taylor, purchased the house from Hardy Winburn V.

Winburn bought the residence for $315,000 in July 2017 from the Carolyn B. Winburn Revocable Trust.

Hallen Court

A 4,633-SF home in the Hallen Court neighborhood of west Little Rock’s Chenal Valley development sold for $588,750.

Andy Smith acquired the house from JRJ LLC, led by Jerald Brock, Roy Montgomery and Joe Benton. The deal is backed with a 30-year loan of $471,000 from Bank of Little Rock Mortgage Corp.

JRJ purchased the property in December 2010 as part of a $1.1 million transaction with HomeBank of Arkansas in Portland.

PV Abode

A 4,496-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $510,000 transaction.

John Burris and Katherine Vasilos bought the house from the Williams Living Trust, led by Thomas and Helen Williams.

The deal is financed with a $661,875 loan from Centennial Bank.

The residence was acquired for $465,000 in August 1996 from Robert and Sherri Daniels.

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