Little Rock hotel bought out of receivership for $1 million
by September 20, 2021 2:51 pm 10,858 views
The former M Star hotel at 1010 Breckenridge Drive in Little Rock.
Titan General Contractors LLC paid $1 million for the former M Star hotel (99 units) at 1010 Breckenridge Drive in Little Rock. The deal closed Sept. 3.
Bill Pendergist, Jim Irwin and Drew Holbert of Colliers Arkansas in Little Rock arranged the sale on behalf of the seller, court-appointed receiver Orchid Global Hospitality LLC.
Kyle Patton of RPM Realty Group represented the buyer. Titan General Contractors is registered to Abigail Reaves of Benton.
“Our firm is excited to have found a buyer who plans to restore this hotel as an operating amenity in this growing Rodney Parham corridor,” Pendergist said. “Its prime location off of Rodney Parham and I-430 make it easily accessible to many restaurants, retail and other amenities in both west Little Rock and midtown and it should be a good investment for its new owners. Colliers was happy to have had the opportunity to assist in this transaction.”
Bri and Dee Corp. of Little Rock paid $2.6 million for the 2.15-acre property in October 2018. Dipesh Patel is president and registered agent for Bri and Dee Corp. It previously was a Studio 6 and La Quinta among other brands.
The 41,400-square-foot, three-story hotel was built in 1986. The facility was partially renovated in 2018 and features owner/manager living quarters with a kitchen.