Arvest Bank Takes Possession of NLR Property

by Talk Business & Politics ([email protected]) 70 views 

A leading creditor of North Little Rock’s Cadena Contracting Inc. recovered nine pieces of property in a $575,716 foreclosure sale.

Arvest Bank of Fayetteville took possession of the North Little Rock houses, which largely secured a $750,000 mortgage.

The property was held in the name of Perez International Land Corp., led by the contracting firm’s namesake president, Jacquelynn Cadena.

The real estate is listed in the firm’s Chapter 7 bankruptcy because of her connection. However, the homes aren’t tallied among Cadena Contracting’s $5.5 million in real estate assets.

The company, named an Arkansas Business of the Year in 2009, listed $7.2 million in debt and $8.6 million in assets in its ongoing bankruptcy action.