A historic hotel in downtown Little Rock tipped the scales at $2.85 million.
SHG Management LLC, led by Kishan Patel, bought the 86-room Legacy Hotel at 625 W. Capitol Ave. The seller is Southern Comfort Inns Inc., led by Amin Amarshi.
The deal is backed with a three-year loan of $2.5 million from Access Point Financial Inc. of Atlanta. The 1.03-acre development previously was linked with a December 2014 mortgage of $1 million held by Arvest Bank of Fayetteville.
Southern Comfort Inns acquired the property for $975,000 in September 2001 from Saini Inc., led by Sarmukh Saini.
Office Acquisition I
A 6,870-SF office building in west Little Rock weighed in at $1.11 million.
Focus Properties LLC, led by Morris Lavender Jr., purchased the 28 Rahling Circle project.
The seller is Radius Real Estate Fund No. 2 Ltd., led by James Wilkins. The 0.57-acre development previously was tied to a February 2014 mortgage of $450,000 held by Central Bank of Little Rock.
Radius bought the property for $745,000 more than two years ago from Diner Properties LLC, led by Bradley Diner; Amick Properties LLC, led by Roger Amick; and R&J Properties LLC, led by Dr. Leigh Ann Bennett.
Warehouse Purchase I
A 79,950-SF warehouse in southwest Little Rock changed hands in a $900,000 sale.
6600 Geyer Springs LLC, led by Drew Holbert and Justin Muller, acquired its namesake project from Monarch Land Co. LLC, led by Brenda Fulkerson.
The deal is financed with a two-year loan of $900,000 and a one-year loan of $600,000 from Relyance Bank of Pine Bluff. The 3.54-acre property was purchased for $77,000 in October 1971 from Smith-Reid-Welsh Co., led by Roy Bilheimer.
Lost 40 Buy
An 11,250-SF office-warehouse in the Riverdale area of Little Rock is under new ownership after an $825,000 deal.
Lost 40 Brewery LLC, led by John Beachboard, Scott McGehee and Albert Braunfisch, bought the 1311 Rebsamen Park Road project from Roy Dudley.
The deal is funded with a seven-year loan of $701,250 from IberiaBank of Lafayette, Louisiana. The 2.03-acre development previously was linked with a March 2013 mortgage of $773,533 held by Eagle Bank & Trust of Little Rock.
The property was acquired for $800,000 more than three years ago from the estate of Larry Meyers Jr.
Office Acquisition II
A 3,900-SF office building in the Heights area of Little Rock rang up a $370,000 sale.
A&A Investments LLC, led by Amir Qureshi and Fariha Shamsi, purchased the 111 N. Fillmore St. project. The seller is Churlock LLC, led by Spence and Kathy Churchill.
The deal is backed with a 10-year loan of $312,000 from Bank of America in Charlotte, North Carolina.
Churlock bought the 0.18-acre development from Fillmore Properties LLC, led by Ricky Schnellmann.
Warehouse Purchase II
A 7,200-SF warehouse in Little Rock drew a $250,000 transaction.
Immerse Arkansas, led by Eric and Kara Gilmore, acquired the 5300 Asher Ave. project from Kathleen Inmon.
The 0.53-acre development previously helped secure a February 2014 mortgage of $285,000 held by First Service Bank of Greenbrier.
The location was purchased in October 2004 as part of an $80,000 deal with Schicker Family Ltd., led by Mary Margaret Dunn.
Teardown Transaction
A 4,851-SF house in Little Rock’s Country Club Heights neighborhood tipped the scales at $2.2 million in advance of a teardown redevelopment.
NPS Holdings LLC, led by Jeffrey and Kara Nolan, bought the property from the estate of Kula Kumpuris.
The Kumpuris family acquired the residence for $71,000 in April 1963 from Louise Porter.
River Club House
A 5,400-SF home in west Little Rock’s River Club neighborhood sold for $825,000. Timothy Files purchased the house from Kristi and Michael Crum.
The deal is financed with a 30-year loan of $417,000 from Bank of Little Rock Mortgage Corp. The residence previously was tied to a July 2015 mortgage of $750,000 held by Bank of England.
The Crum family bought the property for $850,000 15 months ago from Rick Angel.
Orle Abode
A 6,220-SF home in the Orle neighborhood of west Little Rock’s Chenal Valley development changed hands in a $750,000 deal.
Mark and Jennifer Tait acquired the house from Peter and Elizabeth Banko. The deal is funded with a 30-year loan of $750,000 from SunTrust Mortgage Inc. of Richmond, Virginia.
The residence previously was linked with an April 2011 mortgage of $487,000 held by Metropolitan National Bank of Little Rock.
The Banko family purchased the location for $147,000 in March 2007 from Deltic Timber Corp. of El Dorado.
Estates Sale I
A 3,840-SF home in the Adkins Estates neighborhood of west Little Rock rang up a $674,500 sale. Amanda Golbeck and Craig Molgaard bought the house from John Owens.
The deal is backed with a 30-year loan of $417,000 from Simmons Bank of Pine Bluff.
The residence previously was tied to an April 2013 mortgage of $300,000 from Arvest Bank.
Owens acquired the property for $700,000 in May 2010 from Andrew and Jennifer Adkins.
Maisons Residence
A 4,677-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development drew a $635,000 transaction.
Indranil and Mangala Sarkar purchased the house from the T-N-T Living Trust, led by Thomas and Terri Allen.
The deal is financed with 30-year loans of $417,000 and $154,400 from Bank of Little Rock Mortgage Corp.
The residence previously was linked with a January 2010 mortgage of $325,000 held by BancorpSouth Bank of Tupelo, Mississippi.
The location was bought for $75,000 in August 2004 from Deltic Timber.
Estates Sale II
A 4,750-SF home in the Somersett Estates neighborhood of west Pulaski County is under new ownership after a $550,000 foreclosure sale.
Banc of California in Irvine recovered the house from Tina and Andrew Melton.
The residence previously was tied to a March 2007 mortgage of $525,000.
The property was purchased for $629,000 in February 2006 from William and Cheryl Johnson.
Marabel Home
A 3,710-SF home in the Marabel Court neighborhood of west Little Rock’s Chenal Valley development sold for $529,900.
Vincent Calderon Jr. and his wife, Rosey, bought the house from Graham Smith Construction LLC of Little Rock.
The deal is funded with a 10-year loan of $150,000 from IberiaBank.
The residence previously was linked with a February 2016 mortgage of $405,600 held by First Security Bank of Searcy.
The location was acquired for $89,000 in December 2015 from Deltic Timber.
Landmark Financing
Construction of a 196-unit apartment project in west Little Rock is in motion with a $21.8 million funding agreement.
Landmark Apartments LLC, led by Sam Alley, obtained the 42-year loan from Berkada Commercial Mortgage LLC of Ambler, Pennsylvania.
The 13.56-acre site at 16000 Rushmore Ave. was purchased for $601,000 in December 2012 from Jonesboro’s Liberty Bank of Arkansas.