Van Buren Builder Begins Senior Living Project in Rogers

Rick Mooney Construction Inc. of Van Buren is using a building permit valued at $7.4 million to build a 76-unit assisted living facility in Rogers.

Mt. Carmel Community of Benton, led by founder Jimmy Elrod, is the developer of the licensed Assisted Living II facility, its third. Others are in Benton and Hot Springs Village.

The 22-acre development, known as Mt. Carmel Community at Rogers, is at 2200 W. Laurel Ave., just west of South Dixieland Road across from the Creekside subdivision.

HDMS Inc. of North Little Rock is the project architect.

Burrows & Associates Engineering Consultants of Alma is the engineer.

Hampton-chartered First Bank is financing the project.

Mt. Carmel Community in Rogers LLC paid $550,000 for the land in December.

Delta Trust & Banking Corp. of Little Rock was the seller.

The company is also planning a similar development at 1843 S.W. Regional Airport Blvd., southwest of Bentonville near the Wal-Mart Stores Inc. Distribution Center.

Elrod bought the land, 18.7 acres, from Metropolitan National Bank in May for $850,000.

 

Warehouse Sale

A 7.5-acre warehouse development in Fayetteville has a new owner after a $3.21 million sale.

Union Bank and Trust Co. of Monticello, The First National Bank of McGehee and Huntsville-chartered Today’s Bank comprise the new ownership group of the property at 444 Old Wire Road.

Bill Lazenby, through his Old Wire Road Warehouse LLC, was the seller.

Realty Title & Closing Services LLC in Springdale was the closing agent.

The property was built in 2007 and includes nine buildings and 97,046 SF. Occupancy rate is 30 percent. Each of the 18 units range in size from 3,733 SF to 15,272 SF.

Lazenby acquired the four parcels in January 2001 for $150,000. Community Bank of North Arkansas was the seller.

 

Poultry Property

A newly constructed poultry operation in western Benton County recently sold for $2.85 million.

Minh D. Ngo and his wife, Trang Thi Diem Truong, bought the 65.3-acre development at 15623 Peterson Road, west of the Northwest Arkansas Regional Airport in Highfill.

Johnny R. Williams, through his Gum Springs Farms LLC, was the seller.

Waco Title Co. of Springdale was the closing agent.

Arvest Bank of Fayetteville financed the deal with a 15-year mortgage of $2.3 million.

Williams bought the acreage in August 2013 for $325,000. Darrell D. Kelly was the seller.

 

Delmar Deal

Ownership of a 64-unit multifamily property in Siloam Springs changed hands recently after a $1.5 million deal.

GHR Real Estate Investments LLC, led by Scott Gentry and Vincent Gentry, bought the Delmar at Siloam Springs apartment complex at 1993-1 W. Highway 412 at the intersection with South Holly Street.

Lindsey Management Co. of Fayetteville, through its HCL Properties LP, was the seller.

Arvest Bank of Fayetteville financed the deal with a three-year mortgage of $1.2 million.

Realty Title & Closing Services LLC in Springdale was the closing agent.

The property includes four, two-story buildings totaling 36,176 SF. Each of the units have one-bedroom floor plans ranging from 600 SF to 480 SF.

The 3.6-acre development’s most recent appraisal was $1.14 million in 2011.

Lindsey bought the land in June 1983 for $20,000.

 

Duplex Development

Thirteen duplexes in the Emily Heights subdivision of Springdale recently sold for $1.49 million.

Brent and Pamela Hager bought the properties on Emily Circle.

Mid-America Management Associates LLC, led by William H. Howell, was the seller.

Centennial Bank in Fayetteville provided financing.

Realty Title & Closing Services LLC in Springdale was the title agent.

The duplexes were built in 1990 and range in size from approximately 1,800 SF to 2,100 SF. Each unit contains two bedrooms.

 

Newhaven Home

A 5,177-SF home in Phase IV of the Pinnacle subdivision recently sold for $910,000.

Marc and Tracy Lieberman bought the two-story home on West Newhaven Lane from John and Rowena Collier.

Arvest Bank of Fayetteville provided financing with a 15-year, $350,000 mortgage.

Kristen Boozman with Portfolio Luxury Real Estate of Rogers had the listing.

The five-bedroom home was built on a half-acre lot in 2009 and was appraised in 2012 for $775,550.

Collier bought the lot in February 2009 for $119,000.

The property includes a detached guest house.

 

Clear Creek Abode

A 4,600-SF home in Phase II of the Clear Creek subdivision in Johnson recently sold for $900,000.

Benjamin and Bridgett Burris bought the home on Jean Lane from Devin and Sheila Cole.

Centennial Bank of Conway provided financing with a 30-year mortgage of $720,000.

Lenders Title Co. in Fayetteville was the closing agent.

The two-story, five-bedroom home was built in 2009. Cole bought the property in March 2012 for $850,000. William and Lisa Klusmeier were the sellers.

Klusmeier bought the lot in May 2007 from the Drummonds Family Limited Partnership for $165,000.

Drummonds bought the lot in September 2003 from Clear Creek Residential LLC for $113,000.

 

Englefield Residence

A 4,296-SF home in the St. Valery Downs subdivision of Cave Springs has a new owner after a $720,000 sale.

Julie Murphy bought the Englefield Drive home from Dirk and Sonya Hostetler.

The First National Bank of Dieterich in Effingham, Illinois, backed the deal with a 15-year, $417,000 mortgage.

Brooke Hernandez with Weichert, Realtors — The Griffin Co. in Bentonville represented the buyer and the seller.

The home was built in 2006, and appraised in 2011 for $574,900. Hostetler bought the home in April 2011 from Janak Patel for $722,000. Patel bought the home in December 2007 from Douglas and Cynthia Howe for $750,000.

Howe bought the 0.84-acre lot in September 2005 from SCB Investments LLC for $95,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

Bridlewood Buy

A 3,400-SF French country home east of Springdale has a new owner after a $550,000 sale.

Ben and Bobbi Boyd bought the four-bedroom property on North Bridlewood Drive from David and Kathy Mayhue.

The transaction also included an adjacent 2.05-acre lot that is undeveloped.

Waco Title Co. of Springdale was the closing agent.

Arvest Bank of Fayetteville funded the deal with a 15-year mortgage of $412,000.

Teresa Roberts with Weichert, Realtors — The Griffin Co. in Springdale was the listing agent.

The two-story home was built on 2.86 acres in 2005. Mayhue bought the property in March 2006 for $525,000. Gene and Cheryl Long were the sellers.

The home also includes an in-ground saltwater pool.