Terravet AH Little Rock, a limited liability company based in Bala Cynwyd, Pa., paid $1.2 million in November for three buildings owned by After Hours Animal Hospital in North Little Rock.
The seller was Hunter Properties LLC.
No one was available to discuss the sale, a spokesman with the veterinary hospital said last week.
The 5,000-square-foot, two-story building, built in 2001, is at 260 Smokey Lane in North Little Rock. It was appraised at $1.3 million last year. The purchase also included two other buildings at 290 Smokey Lane -- a 1,300-square-foot 49-year old storage warehouse and 1,500 square feet of kennels built in 2001.
Terravet financed the purchase with a $60 million line of credit with KeyBank, which is based in Cleveland.
Daniel Eisenstadt, chief executive officer and president of Calico Real Estate, the sole member of Terravet, signed the mortgage. Eisenstadt incorporated Terravet in October.
J. Dean Hunter, president of Hunter Properties, signed the warranty deed.
SERENITY PARK
Serenity Park Properties LLC of Little Rock invested $1.1 million last month to buy the building and property of Serenity Park, a 12,000-square-foot rehabilitation center for addiction treatment.
The two-story building at 2801 W. Roosevelt Road was built in 1960. A separate 9,400 square-foot structure, built in 2007, was included in the sale. The two buildings and about 5 acres were appraised at $960,000 in 2018.
The seller was Bank of Little Rock. Eugene Maris, signed the warranty deed.
Tara Tinnin incorporated Serenity Park Properties in November.
CITGO SALE
Taylor Mercantile LLC bought T Ricks Highway 5 Citgo in Cabot for $1 million in November.
The 8,000-square-foot convenience store and shopping center at 9909 Arkansas 5 in Cabot was built in 1984. The property included almost 2.5 acres.
The seller was Mountain Express Oil Co.
Both Taylor Mercantile and Mountain Express Oil are at 533 Bells Ferry Road in Acworth, Ga.
Barry Bierenbaum, president of Mountain Express Oil and manager of Taylor Mercantile, signed the warranty deed. Bierenbaum incorporated Taylor Mercantile in November and Mountain Express Oil in September.
METHODIST MOVE
Mike Angel Properties LLC of Conway spent $415,000 to buy the former United Methodist Foundation of Arkansas building in Little Rock last month.
The 18-year-old structure at 5300 Evergreen Drive has about 2,600 square feet.
The foundation sold the building because of its move to a new location, said Clarence Trice, senior vice president and chief financial officer of the foundation.
The new office is at 601 Wellington Village Road. Personnel with the foundation moved into the new building -- known as the James B. Argue Jr. Stewardship Center -- on Nov. 17.
"We had outgrown our building [on Evergreen]," Trice said.
The new building has about 9,500 square feet, Trice said.
"This building has a training center where we can host events," Trice said. "So we don't have to go to churches or rent hotel space."
Rev. J. Wayne Clark begins his new role as president and chief executive officer of the foundation this month. Angel, a Little Rock attorney, did not return a phone call seeking comment about the purchase.
Mike Angel Properties borrowed almost $355,000 from Today's Bank in Huntsville. The mortgage matures in 2028.
Michael Angel, sole member of Mike Angel Properties, signed the mortgage.
Trice signed the warranty deed for the Methodist Foundation.
Brad Gaither incorporated Mike Angel Properties in November.
Sunday Business on 01/06/2019