Crossover Station Refinanced

by Talk Business & Politics ([email protected]) 80 views 

Cozart Properties LLC of Fayetteville received a $1.25 million mortgage from the Bank of Fayetteville on May 22 to refinance the debt the company incurred building a 5,171-SF retail outlet at the corner of Arkansas Highways 45 and 265.

The loan was signed by Don B. Cozart, Mary Jane Cozart and Andrew Cozart as members of the company.

The building is at 1940 and 1968 Crossover Road and currently houses a Hardee’s restaurant and a Citgo convenience store.

The company bought the land in January 1996 from Gary and Theresa Atha of Fayetteville for $542,000. The couple retained a second mortgage on the land for $400,000.

On June 28, 1996, Cozart Properties received a $1.15 million construction mortgage from the Bank of Fayetteville to build the retail center. The center was appraised this year for $720,200.