$7.1M deal closes for building in LR
A transaction to sell one of six buildings in the Westlake Corporate Park for $7.1 million closed this week, marking the first time the West Little Rock commercial office development has been parceled out and not sold as one development.
Real estate investor John Flake described the transaction as a one-time "special opportunity."
Leonardo Properties-Westlake LLC was one of the buyers. Bruce Murphy, the chief executive officer of the Arkansas Heart Hospital, is associated with the limited liability company, according to Flake. About half of the 45,000 square-foot Benton Building, which is across Shackleford Road from the hospital, is occupied by hospital staff.
The other buyer was a Flake-affiliated company, Central Properties Inc.
The seller was a limited liability company tied to Silver Tree Partners, a Dallas-based real estate development and investment firm, that acquired the property for $45.8 million in 2017.
Flake and Co. represented the buyers. Colliers/Arkansas represented the sellers.
The complex was originally developed by Koger Properties Inc. of Jacksonville, Fla., between 1983 and 1989.
-- Noel Oman
2 state banks ready to release 1Q results
Home BancShares Inc. of Conway, parent company of Centennial Bank, is scheduled to release first-quarter earnings before the stock market opens today. Bank OZK of Little Rock is scheduled to report after the market closes.
Home's executive team also will hold a conference call at 1 p.m. to review the earnings release. To listen to the live call, dial 1-844-200-6205, Passcode: 064337. A replay of the call will be available at 1-866-813-9403, Passcode: 129968, and will be available until April 28.
At OZK, management's comments on the first quarter of 2022 will be released simultaneously with the earnings press release and will be available on the bank's investor relations website.
Management will conduct a conference call at 10 a.m. on Friday cq. Interested parties may listen to this call at 1-844-818-5110 and asking for the Bank OZK conference call. A recorded playback will be available for one week following the call at 1-855-859-2056.
-- Andrew Moreau
Day's 3.14 increase puts index at 809.99
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 809.99, up 3.14.
"The S&P 500 Index closed relatively flat despite weakness in the communication services sector sparked by concerns over subscriber losses within the media streaming space, which weighed on stocks in afternoon trading," said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.