George Waldon

Senior Editor at Arkansas Business

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Articles

Ridge Road Village Tops $6.2M (Real Deals)

1 week ago | arkansasbusiness.com | George Waldon

An 80-unit seniors living project in North Little Rock tipped the scales at $6.23 million. Ridge Road Village Propco LLC of Knoxville, Tennessee, purchased its namesake complex at 4748 Ridge Road. The seller is 4748 Ridge Road LLC, an affiliate of New York’s Dwight Capital in Sunny Isles Beach, Florida. Ridge Road Village assumed a December 2016 mortgage of $6.3 million held by Dwight Capital.
Hillview Village Sale Closes at $4.3M (Real Deals)

2 weeks ago | arkansasbusiness.com | George Waldon

A 56-unit apartment complex in North Little Rock weighed in at $4.3 million. Hillview Village of North Little Rock LLC, led by Darrell Robinson, sold its namesake project at 2540 W. Pershing Blvd. The buyer is 2540 Pershing Blvd LLC, led by Albert Mendelsohn and Arek Boynerian. The deal is funded with a three-year loan of $3.2 million from First Service Bank of Greenbrier. The 5.42-acre development was purchased for $3 million in August 2018 from Hillview Village Ltd.
Beach Abstract Buy Closes at $3.5M (Real Deals)

3 weeks ago | arkansasbusiness.com | George Waldon

A 26,326-SF office building in downtown Little Rock tipped the scales at $3.5 million. Bushwacker Investments LLC, led by Susan and Brian Perry and Brian Swiggins, acquired the Beach Abstract Building and 15,000-SF parking deck at 100 Center St.The deal was backed with a 20-year mortgage of $3.3 million provided by the seller, George Pitts Jr. Family Ltd., led by Brett Pitts. The 0.48-acre development was bought for $750,000 in October 1985 from Standard Securities Co., led by J. Wythe Walker.
FNBC Debt Offering Tops $7.2M

1 month ago | arkansasbusiness.com | George Waldon

The parent company of Ash Flat’s FNBC Bank completed its second $7.25 million subordinated debt offering late last year. FNBC Bancorp Inc. accomplished the first offering back in 2019, which largely was used to provide additional capital for its bank. Of those funds, $6.1 million flowed into the coffers of FNBC Bank during the fourth quarter of 2019. What are the plans for the latest subordinated debt offering?
Spaces Storage Sells in $12.8M Transaction (Real Deals)

1 month ago | arkansasbusiness.com | George Waldon

A 584-unit mini-storage project in the Riverdale area of Little Rock weighed in at $12.8 million. FultonBSH LRAR I LLC, an affiliate of City Line Capital of Bala Cynwyd, Pennsylvania, purchased Spaces Storage at 1700 Brookwood Drive. The seller is Spaces Riverdale LLC, led by Daniel Lusk. The deal is financed with an $8.8 million loan from Wells Fargo Bank of Sioux Falls, South Dakota.
Splash Transaction Surpasses $4.7M (Real Deals)

1 month ago | arkansasbusiness.com | George Waldon

A Splash Car Wash development in Sherwood tipped the scales at $4.78 million. R2J Commercial LLC of Dallas bought the 3610 E. Kiehl Ave. project from Splash Kiehl LLC, led by Drew Holbert. The deal is funded with a six-month loan of $3.3 million from Relyance Bank of White Hall. Splash Kiehl acquired the 0.94-acre site for $369,000 in December 2021 from Zeiler Real Estate LLC, led by Joseph Zeiler and Ruth Stovall. The 30,420-SF Best Drive project in North Little Rock weighed in at $2.89 million.
Cantrell Retail Project Rings Up $3M Sale (Real Deals)

1 month ago | arkansasbusiness.com | George Waldon

A 13,937-SF commercial project in Little Rock weighed in at $3 million. 7811 Cantrell LLC, led by Barnett and Greer Grace, sold its namesake address, the home of Barbara/Jean and Tease Salon and former home of Graffiti’s Italian Restaurant. The buyer is D&T Real Estate Investments LLC, led by Daniel and Tiffany Robinson. The deal is backed with a 25-year loan of $3 million from Cadence Bank of Tupelo, Mississippi.
LR Hotel Registers $6.9M Transaction (Real Deals)

1 month ago | arkansasbusiness.com | George Waldon

A 138-room hotel in east Little Rock tipped the scales at $6.95 million. Maulik Hotel LLC, led by Pankaj Patel, Inderjit Singh, Parwinder Singh and Miteshkumar Patel, acquired the Holiday Inn Express at 3121 Bankhead Drive. The seller is LIT Hotels LLC, led by Shash Goyal. The deal is financed with a $5.2 million loan from Southern Bank of Poplar Bluff, Missouri. LIT Hotels bought the 5.44-acre development for $6 million in February 2015 from Airport Hotels LLC, led by Rajesh Mehta.
The Promenade at Chenal’s Journey From Foreclosure to a $73M Deal with Tanger

1 month ago | arkansasbusiness.com | George Waldon

The $73 million acquisition of Little Rock’s Promenade at Chenal arrived nearly 20 years after the launch of its construction and the beginning of turbulent times for retail. Its purchase in December by Tanger Inc. marks a continuation of the real estate investment trust’s expansion from a foundational portfolio of 38 outlet malls into upscale lifestyle centers.
The Promenade at Chenal: A Transactional History

1 month ago | arkansasbusiness.com | George Waldon

Tanger Inc. purchased the heart of the Promenade at Chenal, a 20.84-acre tract home to eight buildings with 193,077 SF of leasable space under roof, as part of a $73 million transaction on Dec. 10. The publicly traded real estate investment trust headquartered in Greensboro, North Carolina, also acquired as part of the deal the 32,992-SF AMC Theatre and two outparcels where the 9,538-SF Sullivan’s Steakhouse and 24,312-SF HomeGoods store do business.