River Market Marriott Sold for $20.3M - Southern Business Review

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Sunday, February 10, 2019

River Market Marriott Sold for $20.3M

A hotel in downtown Little Rock, agri land in Lonoke and Faulkner counties, residential property in Saline County and more fill out the roster of this week’s multimillion-dollar real estate transactions.


► SREIT RI Little Rock Propco LLC, an affiliate of Noble Investment Group of Atlanta, bought the 107-room Residence Inn by Marriott at 219 River Market Ave. for more than $20.3 million.


Seller: NFII/CI Little Rock LLC, an affiliate of Starwood Capital of Greenwich, Connecticut.


► Robert E. LaRoche Children’s Trust 2009 sold more than 450 acres on the east side of Highway 161 about 3 miles south of Scott for nearly $2.1 million.


Buyer? NewQueen Villa Inc., led by Luis Manfio.

► Summit Properties LLC, led by Richard Williams, purchased 42.7 acres at the northwest corner of Benton Parkway and Alcoa Road for more than $1.6 million from Reynolds Metals Co. LLC of Pittsburgh.


► The Frankie Joe Gardner & Melissa Marie Gardner Living Trust sold a 472-acre spread in northern Faulkner County 6.5 miles south of Quitman for more than $1.4 million.


Buyer: L&C Properties LLC, led by Brooks Lawrence.


► RCME LLC of Fayetteville, an affiliate of Rausch Coleman Homes, acquired 28 residential lots in the Meadows Edge neighborhood of Alexander for more than $1.2 million.


Seller: Meadows Edge Co. LLC, led by Walter Woodward III.


► Taylor Mercantile LLC, an affiliate of Mountain Oil Express Co. of Acworth, Georgia, sold an 8,000-SF convenience store at 9909 Hwy. 5 in Cabot for $1 million.


Buyer? Vault CS 9909 Hwy 5 LLC, an affiliate Vault Equity Partners of Bloomfield Hills, Michigan.


The deal was part of a $19 million sale-leaseback encompassing 13 convenience stores in Arkansas and Louisiana.