Arkansas - Digital Publishing

Sherwood Convenience Store
Rings Up $2.8M Transaction
A Kum & Go convenience store in
Sherwood tipped the scales at $2.8 million.
Arc KGSWDAR001 LLC of Jenkintown,
Pa., bought the 3400 E. Kiehl Ave. project
from KG Store 150 LLC of Des Moines,
Iowa.
The 1.96-acre location was assembled
in two March 2012 buys totaling
$650,000. The sellers are Ernest Sam
Lantrip, $400,000, and Marvin and
Carletta Overton, $250,000.
Dollar Acquisition
A Dollar General store in Jacksonville
changed hands in a $1.07 million transaction.
Yolo Holdings LLC, led by Daniel
Quaranto of Lynnbrook, N.Y., purchased
the 22405 Highway 107 project. The seller
is PB General Holdings (Macon) LLC, led
by Scott Proctor.
The deal is financed with a five-year
loan of $700,000 from Arvest Bank of
Fayetteville.
The 1.22-acre development previously
was tied to a March 2012 mortgage
of $768,000 held by Summit Bank of
Arkadelphia.
3500+
ClieNTs
The location was bought for $138,000
10 months ago from the James Potter
Living Trust.
Sherwood Sale
A 4,896-SF office-warehouse building
in Sherwood is under new ownership
after a $425,000 deal.
Fourth Street LLC, led by Stuart
Hankins, acquired the 1515 E. Kiehl
Ave. property from Emanuel and Patsy
Bates.
The 0.54-acre location was purchased
for $76,000 in December 1996 from
Donald and Howard Norton.
Riverbend Residence
A 3,685-SF home in the Riverbend
neighborhood of Little Rock sold for
$750,000.
Ginanne Long bought the residence in
the Riverdale area from Constance and
William Bowen.
The Bowens acquired the property for
$1.15 million in April 2006.
The seller was The Mitchell Family
Revocable Trust, led by Maurice and
Elizabeth Mitchell.
experience direction
Real Deals
George Waldon
George@ABPG.com
Bailey Financing
Four apartment projects in Pulaski
County were used to secure an $18.3 million
funding agreement.
Bailey Properties LLC, led by John
Bailey, obtained the financial package
from Bank of America in Charlotte, N.C.
The apartments encompass three
west Little Rock properties: the 256-unit
Waterford project at 701 Green Mountain
Drive, 80-unit Bowman Heights proj-
Little Rock // 501.372.1040 Fort Smith // 479.452.1040 Rogers // 479.845.0270 bkd.com
Arkansas Business January 28, 2013 23
ect at 420 Markham Mesa Place and
52-unit Markham Oaks project at 8118 W.
Markham St. The fourth project is the
170-unit Indian Hills Apartments complex
at 2011 Aztec Drive in North Little
Rock.
The properties previously were linked
with a June 2002 mortgage of $7.5 million,
a February 2006 mortgage of $6.5
million, a March 2008 mortgage of $1.7
million and a July 2009 mortgage of
$1.2 million all held by Regions Bank of
Birmingham, Ala.
The 13.1-acre Waterford development
was purchased for $6.8 million in April
1993 from BRW Real Estate Operating Co.
Ltd. of Dallas.
The 8.8-acre Indian Hills development
was bought for $4.2 million in June
1997 from Love Apartment Communities
of St. Louis.
The 3.87-acre Bowman Heights development
was acquired for $1.36 million
in July 1994 from RCDC, led by Dr. C.D.
Williams and Anna Williams and David
and Kay Jones.
The 1.4-acre Markham Oaks development
was purchased for $1 million in
December 1996 from Wayne and Margy
Carlson.
The Waterford and Bowman Heights
projects also are backed with a $7.5
million bond issue through the Pulaski
County Public Facilities Board.
This 30-year financing replaces an
August 2005 PCPFB bond issue of
$6.4 million. n
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