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Warehouse Purchase A 44,640-SF warehouse project in Little Rock changed hands in deals totaling $730,000. MPV Leasing & Rentals LLC, led by Michael Vogelpohl, purchased the 6200 Patterson Road project and an adjoining 0.57-acre parcel. Office Acquisition I A 3,312-SF office building in downtown Little Rock is under new ownership after a $390,000 sale. Cosmetology Sale A 5,358-SF commercial project in North Little Rock drew a $275,000 transaction. The deal is backed with a three-year loan of $252,000 from Bear State Bank of Little Rock. River Ridge Abode A 4,515-SF home in Little Rock's River Ridge Manor neighborhood changed hands in a $689,000 transaction.
Real Deals
A 244-room hotel in west Little Rock tipped the scales at $13.5 million.
Crowne Plaza Little Rock LLC, led by Wally Allen, sold its namesake hotel at 201 S. Shackleford Road. The buyer is WLR Hotel LLC, led by Shashwat Goyal.
The deal is backed with a four-year loan of $10.2 million from Southern Bank of Poplar Bluff, Missouri.
The 4.22-acre development previously was linked with a December 2012 mortgage of $15 million held by Centennial Bank of Conway.
The location was bought for $2.2 million in January 1985 from Emporia Hotels Inc., led by Don Dreiske.
NLR Retail
A 6,000-SF retail building in North Little Rock weighed in at $2.57 million.
Vic and Victoria Alberti of Clovis, California, acquired the 11951 Maumelle Blvd. project, home to Mattress Firm and Verizon.
The seller is CGP Maumelle MF LLC of Birmingham, Alabama.
The deal is funded with a 25-year loan of $1.57 million from First Symetra National Life Insurance Co. of Seattle.
The 1.03-acre development previously was tied to a $2.1 million mortgage held by Sterling Bank of Poplar Bluff, Missouri.
The site was purchased for $745,000 in December 2015 from Simmons First National Bank of Pine Bluff.
Templars Transaction
A historic 10,041-SF building in downtown Little Rock rang up a $950,000 sale.
The Arkansas Department of Heritage bought the former headquarters of the Mosaic Templars of America at 906 Broadway.
The seller is the Leonal W. Kilgore Revocable Trust.
The 0.31-acre development previously was linked with a January 2006 mortgage of $1.6 million held by First NeodeshaBank of Neodesha, Kansas.
The property was acquired for $1.8 million more than 11 years ago.
The seller was S&D Holdings LLC, led by John Donaldson.
Warehouse Purchase
A 44,640-SF warehouse project in Little Rock changed hands in deals totaling $730,000.
MPV Leasing & Rentals LLC, led by Michael Vogelpohl, purchased the 6200 Patterson Road project and an adjoining 0.57-acre parcel. The sellers are P-Americas LLC of Dallas, $675,000; and Walk-Winn Plastic Co., led by Tommy Walker, $55,000.
The deal is financed with a five-year loan of $568,000 from Arvest Bank of Fayetteville.
The 4.41-acre P-Americas property was assembled in three deals totaling $338,000. The sellers were Mountain Valley Spring Co., $290,000 in May 1967; Industrial Development Co. of Little Rock, led by Everett Tucker Jr., $23,000 in September 1982; and $25,000 in April 1983.
Walk-Winn bought its property in October 1987 as part of a $500,000 deal with the Industrial Development Co. of Little Rock.
Office Acquisition I
A 3,312-SF office building in downtown Little Rock is under new ownership after a $390,000 sale.
H.O.E. Properties LLC, led by Frank Hamlin, acquired the 1101 W. Second St. project.
The seller is 1101 Partners LLC, led by Patty Lueken.
The seller provided a 10-year loan of $350,000 to facilitate the sale.
The 0.2-acre development was purchased for $133,750 in September 2014 from Ann and Walter Pincus.
Cosmetology Sale
A 5,358-SF commercial project in North Little Rock drew a $275,000 transaction.
Clifton Family LLLP, led by Norman Clifton, bought the Lee's School of Cosmetology project at 2700 Pershing Blvd. from Linda Lee.
The property was acquired for $60,000 in September 1988 from Apartment House Builders Inc., led by John Kincannon.
Office Acquisition II
A 2,300-SF office building in Sherwood sold for $252,000.
Brad Barnett Insurance Agency Inc. purchased the 1610 E. Kiehl Ave. project from Frank Schulte.
The deal is backed with a three-year loan of $252,000 from Bear State Bank of Little Rock. The 0.46-acre development previously was tied to an April 2009 mortgage of $141,000 held by Centennial Bank.
Schulte bought the location for $60,000 in September 1996 from Kiehl Avenue Associates Ltd., led by Maury Mitchell Jr.
River Ridge Abode
A 4,515-SF home in Little Rock's River Ridge Manor neighborhood changed hands in a $689,000 transaction.
John and Hope Lacey acquired the house from the Rosalyn D. Jacuzzi Revocable Trust.
The deal is funded with a 30-year loan of $200,000 from IberiaBank of Lafayette, Louisiana.
The property was purchased for $67,000 in June 1966 from H.C. and Mevrouw Cobum.
Cliff ewood House
A 2,684-SF home in Little Rock's Cliffewood neighborhood rang up a $655,000 sale.
Henry Barham III and his wife, Jeanne, bought the house from Tyler Kirk.
The deal is financed with a 30-year loan from Regions Bank of Birmingham, Alabama.
The residence previously was linked with a May 2016 mortgage of $675,000 held by Centennial Bank.
Kirk acquired the property for $675,000 a year ago from Kelly and Ellen Kreth.
Maisons Home
A 4,764-SF home in The Maisons neighborhood of west Little Rock's Chenal Valley development is under new ownership after a $609,000 transaction.
Hal Palmer purchased the house from Omon and Cynthia Hill. The deal is backed with a 30-year loan of $424,000 from Arvest Bank.
The residence previously was tied to a February 2005 mortgage of $472,000 held by Merrill Lynch Credit Corp. of Jacksonville, Florida.
The Hills bought the property for $590,000 more than 12 years ago from Richard Harp Homes Inc. *
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George Waldon
Copyright Arkansas Business May 22-May 28, 2017