The vacancy rate for industrial space in central Arkansas stood at 10.2 percent in the fourth quarter, unchanged from third-quarter 2016 and down 0.9 percentage point from first-quarter 2016.

“The Little Rock industrial market saw a record year in terms of absorption, totaling 944,748 SF,” said J. Fletcher Hanson III of Newmark Grubb Arkansas of North Little Rock. “Warehouse and distribution outperformed all other property types with 622,925 SF of absorption. Although warehouse and distribution space continues to be absorbed, this category maintains a 12.9 percent vacancy, providing ample opportunity throughout the central Arkansas market.”

“The largest blocks of industrial space continue to be in the eastern boundaries, followed by North Little Rock and Jacksonville," said Hanson. "The lowest vacancy rate recorded for the quarter was 2.1 percent in the west submarket. Although we anticipate a few sizable buildings will become available in 2017, we expect the positive trend to continue.”

An upscale multifamily complex and a boutique hotel are heading for a Rogers development led by Chad and Monika Hatfield of Hatfield Properties.

The development, which will also include office and retail space, will be built at The Fields at Pinnacle, a 28-acre property that the Hatfields began developing a year ago. The first project, a $10 million, 40,000-SF office building opened this year at 3070 S. Champions Drive, and its main tenant, Mars Inc., moved in March 25.

When Hatfield Properties announced the original project’s first phase, Monika Hatfield said the second phase would be a series of four office buildings on the remaining 15 acres. Market research convinced the Hatfields to develop an amenities-rich, multipurpose complex instead.

“There’s an opportunity gap in the area for a cool boutique hotel and some retail so we wanted to switch gears,” Monika Hatfield said. “There’s an opportunity gap for some true luxury condos in the area as well.”

Hatfield said the change in plans was a “hard sell” to the city of Rogers, but the city approved the new development. Hatfield said the specifics of how many condos and the size of the hotel will be determined after consulting with developers.

“Whatever we have done has been very premium and we put a lot of blood, sweat and tears and our emotional stamp onto it,” Hatfield said. “We hope to partner up with a boutique hotel company and not do it ourselves. I have visions of a rooftop bar overlooking the Promenade and the AMP.”

The Hatfields purchased the 28 acres at the northwest corner of Champions Drive and Northgate Road for $3.4 million in 2013.

Three Ridout Lumber properties in central Arkansas and a west Little Rock office building are the building blocks for this week’s quartet of million-dollar transactions.

• An affiliate of the Store Capital real estate investment trust in Scottsdale, Arizona, bought the trio of Ridout projects from the Wayne & Robby L. Ridout Family LLLP.

The properties and transactions encompassed the 17,500-SF complex at 1215 E. Oak St. in Conway, more than $2.1 million; the 13,157-SF facility at 1435 W. Main St. in Cabot, nearly $1.6 million; and the 14,250-SF project at 21176 Interstate 30 in Benton, more than $1 million.

• Innwood Building LLC, led by Dennis Baas, sold its namesake 18,400-SF office project at 3 Innwood Circle for more than $1.5 million.

Buyer: Three Innwood LLC, led by Dennis Ford.

A new lender and a new contractor are accompanying a restart of the dormant K Lofts project in downtown Little Rock.

A subsidiary of Ardent Financial of Atlanta provided a one-year funding agreement of $2 million to get the 32-unit apartment redevelopment moving again.

According to loan documents, $1.8 million was used to refinance the original construction loan and pay outstanding bills for work to bring new life to the 115-year-old building at 315 Main St.

Most of that money went to repay Fort Smith’s Creek Capital Partners LLC, which in December purchased the original $1.3 million first mortgage from IberiaBank.

Another chunk went to Little Rock’s AMR Construction LLC, the original contractor on the project.

After pulling off the job on April Fools’ Day 2015, AMR filed a lien claim of $196,440 divided between two contracts.

More than $143,700 was owed on the original $2.1 million contract to redevelop the upper floors of the once-dilapidated five-story building.

More than $52,600 was owed on an $825,300 contract to re-pair a partial collapse of the east wall in 2013.

The remaining $200,000 from the Ardent loan is devoted to pay for work needed to complete the project.

Who is finishing the job?

That would be MWF Construction LLC, led by Matt Foster.

We understand that installation of appliances and flooring are the biggest items remaining. These tasks and the necessary final inspections could be completed before Memorial Day.

Arkansas labor and employment attorneys are keeping an eye on challenges to the U.S. Department of Labor’s overtime rules as well as a bill that would amend the Minimum Wage Act in Arkansas.

The Labor Department had planned to raise the pay threshold for salaried workers to be considered exempt from overtime rules, but the issue has been mired in court since late last year. The salary level has been $23,600 a year since 2004. But just before Dec. 1, when the threshold was supposed to jump to $47,476, a federal judge in Texas blocked the change with an injunction. Some employers, including St. Bernards Healthcare in Jonesboro, had already made staffing changes to prepare for the new rules.

The Department of Labor has appealed the judge’s ruling to the 5th U.S. Circuit Court of Appeals, where it remains.

“Things are still in limbo,” said attorney Jane A. Kim, whose practice area includes employer and workplace issues at the Wright Lindsey Jennings law firm in Little Rock. “This uncertainty is certainly frustrating, and it’s challenging.”

Meanwhile, the Arkansas House of Representatives passed a bill last week that could keep employers from having to pay employees for putting on and taking off protective gear. As of Thursday morning, the bill was pending in the state Senate.

The legislation is in response to an opinion last May by the Arkansas Supreme Court that upheld an award of $3 million to workers at a Gerber Products Co. baby food plant in Fort Smith who had not been paid for the time it took to put on and take off protective clothing, even though the union and the company agreed that the workers wouldn’t be paid for that time.

The bill would allow a union and a company to agree to make those types of collective bargaining decisions.

“We think it’s a bad bill,” said Tim Steadman of Holleman & Associates PA of Little Rock, one of the attorneys who represented the Gerber employees. “It’s a right-to-work state. You don’t have to be a member of a union. … The union shouldn’t be able to trade your rights.”

The sponsor of the bill, Rep. Charlie Collins, R-Fayetteville, said the bill would affect few workers in Arkansas and is designed to mirror federal law.

“The AFL-CIO is OK” with the legislation, Collins said. “It does not interfere with collective bargaining rights, so to my knowledge there’s no significant opposition.”

Gerber also believes it is the right legislation, said one of the company’s attorneys, E.B. “Chip” Chiles IV of the Quattlebaum Grooms & Tull PLLC law firm in Little Rock.

“Throughout the litigation, Gerber took the position that the terms of the collective bargaining process should be honored, and Gerber believes that now,” Chiles said.

Overtime Rules
Attorney J. Bruce Cross of the Cross Gunter Witherspoon & Galchus firm in Little Rock said it might be some time before the Department of Labor’s overtime regulations are settled.

Cross, whose practice area includes employment issues, said President Donald Trump’s nominee for secretary of labor, R. Alexander Acosta, could modify the overtime rules if approved by the Senate.

And Cross said he thinks when a secretary of labor is confirmed, the Department of Labor “will come back with something that would be more acceptable to more people and have a better chance of being successful.”

In addition, whatever decision the 5th U.S. Circuit Court of Appeals makes on the overtime rules will probably be appealed to the U.S. Supreme Court, he said.

If the overtime rules had been implemented as proposed on Dec. 1, they were expected to award pay to 4.2 million Americans, about 50,000 of them in Arkansas, who previously wouldn’t have been eligible for it.

Kim, the attorney with Wright Lindsey Jennings, said that some of her clients had already made the changes to meet the requirement of the overtime rules before the injunction came down. Those employers are keeping the changes in place.

However, some of her clients who were moving toward making staffing changes put those on hold once the injunction was issued.

She advises her clients who have already adjusted employee salaries or statuses to keep them in place, Kim said.

“But, then, if employers who decided not to make any of the changes, … I think they may want to consider tracking the hours of any employees who may end up being reclassified just in case the rule is enforced retroactively,” Kim said.

Employers’ Strategies Differ
Last summer, St. Bernards Healthcare worked on its strategy for the looming overtime regulations.

It had two options, said Lori Smith, the health company’s vice president of human resources: Either increase the individual salaries or reclassify workers as nonexempt and pay them overtime.

She estimated that only about 50 employees out of about 3,000 needed the adjustment.

Even though the overtime rules weren’t expected to go into effect until Dec. 1, St. Bernards adjusted its employees’ status or pay on Oct. 1.

Some employees received a bump in pay so they could remain exempt, while others who were salaried employees became hourly workers. Those newly nonexempt employees now receive overtime pay when they previously didn’t, Smith said.

“It was really a benefit to our staff,” she said.

When the overtime rules were put on hold, St. Bernards kept the employment changes because of the benefits to the employees.

Smith said the estimated annual increase in payroll expense is $100,000.

Unity Health in Searcy took a different path. It decided to wait to see the final outcome of the overtime rule before making employee adjustments, which were estimated to cost the health care organization a little less than $100,000, said Stuart Hill, Unity Health’s vice president and treasurer.

He said some employees would not have been happy being moved from a salaried position to an hourly classification. “It was an employee satisfaction issue, and it was going to cost us extra dollars,” Hill said.

Minimum Wage Clarity
Last week, the Arkansas House passed a bill on a 92-0 vote to clarify the Minimum Wage Act in Arkansas. The bill was a response to the Arkansas Supreme Court opinion involving the Gerber workers.

In 2012, the workers filed a lawsuit in Sebastian County Circuit Court charging that they weren’t being paid for all the time they worked at the plant, which included putting on and taking off their protective clothes. The employees’ union and Gerber had agreed that the workers wouldn’t be paid for that time.

The state Supreme Court found, in a 4-3 decision issued on May 26, that the Arkansas Minimum Wage Act requires the workers to be paid for the time.

In a dissenting opinion, Justice Rhonda K. Wood wrote that the court’s decision means “the floodgates will open to litigation at the enormous cost to businesses in Arkansas.”

Steadman said he hadn’t heard of any lawsuits being filed as a result of the opinion.

Rep. Collins, however, said a few lawsuits had been filed.

Steadman said that Collins’ bill further muddies the water on the definition of what work is.

“If the Legislature had set out to define what work is, that would provide clarity for both employers and employees to know what’s work, what kind of activities you have to pay for,” he said.

And he said that might lead to more lawsuits. “Employees are still going to feel, rightly, that they’re being cheated if they’re forced to perform tasks that they’re not paid for,” Steadman said.

Collins thinks his bill is clear and is “the best that any human can come up with.” But a lawyer “makes money by creating discord and lack of clarity,” he said. “So if I’m a lawyer, that’s what I’m going to focus on: ‘Where are the seams and how do I pull them apart?’”

Being a small business owner these days is tough. Entrepreneurs face challenges at every turn and it requires personal investment of time, talent and treasure to be successful. Not the least of these challenges is stretching available resources by taking on operational tasks personally.

It’s no secret entrepreneurs wear many hats; many times they are the marketing department, the HR department, the purchasing department and the cleaning crew all rolled into one. Even those businesspeople who have grown past the stage where they have to do everything themselves still feel that tug to stay connected to many of these functions in the name of retaining tight controls.

Bookkeeping is one of those business functions that’s often an afterthought for small business owners, something to be done on weekends or passed off to one’s spouse, in order to save money. That works in theory, but with everything else that can pop up, bookkeeping tasks are also easy targets to be pushed to the side. With everything that can come along unexpectedly in a typical day, it’s altogether too easy to save updating the books for another time.

One big negative of postponing your bookkeeping tasks, maybe because a machine broke or a client moved up a deadline, is such tasks have a tendency to snowball, putting you constantly in catch-up mode and increasing the chance for errors. Moreover, bookkeeping is more than keeping an up-to-date ledger, it’s a roadmap for how your company is doing and what direction to take next to overcome challenges and maximize opportunities in the marketplace. You can’t do that very well without accurate, up-to-date records.

A Helping Hand

When it comes to bookkeeping functions, business owners of every size can benefit from the help of a designated individual, be it through hiring the right help, assigning the tasks to an existing employee or enlisting the services of a third-party vendor. Sometimes the decision to farm these tasks out is made for the entrepreneur, as their business has grown beyond the limits of their available time and expertise. Whatever your motivation for considering a designated bookkeeper, there are several factors you need to consider.

First, consider your needs for timeliness and accessibility of information. If your business demands access to your financials daily or several times a week, it’s probably better to have someone just down the hall than to go through an outside vendor who, besides being offsite, is taking care of several clients besides you. Companies who don’t need that level of access may find it more cost effective to retain outside help versus shouldering the load of salary, insurance and office space of a new hire.

Of course, many small companies maximize their investment in employees by giving them additional responsibilities, such as HR or office manager functions. Here again, one runs the risk of bookkeeping duties taking a back seat to other matters, all of which are demanding the employee’s immediate attention.

There’s also the old adage, “The right tool for the right job,” to consider. Is the person to whom you’re assigning these duties up to the task in terms of training, organization or skill set? If you hire someone new, are you willing to share such company sensitive information with someone you don’t know well?

Expertise Matters

One strategy that many small business owners have employed is splitting the bookkeeping work to include the best elements of in-house and outside help, saving time and money in the process. Companies train someone on staff for day-to-day data entry with some management oversight, then have a qualified outside entity clean it up, reconcile everything and get reports to management in a timely manner.

This hybrid system also keeps tasks within the realm of a business owner’s — or their employees’ — respective skill set. As with legal services, airline pilots or your doctor, there are some things where you’re just better off leaving things to a professional. A reputable outside firm is going to have the expertise to handle just about anything your business can throw at it and, equally important, translate those issues into terms you can understand. That alone often justifies the cost of such services.

Put another way, you are the expert in your business and accountants and bookkeepers are the experts in theirs. Recognizing the value of such expertise can save you a lot of time, headache and ultimately money over doing it yourself.

Kelly M. Phillips, CPA

Principal, Bell & Company, P.A.

WASHINGTON — Long-term U.S. mortgage rates fell this week for a third straight week, approaching their low points for the year.

Mortgage buyer Freddie Mac said Thursday the rate on 30-year fixed-rate home loans declined to 4.10 percent from 4.14 percent last week. That brought the benchmark rate close to its 2017 low of 4.09 percent reached on Jan. 19. The 30-year rate stood at 3.59 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971.

The rate on 15-year mortgages eased to 3.36 percent from 3.39 percent last week.

The Federal Reserve raised its key interest rate last month for only the third time since 2006, reflecting a consistently solid U.S. economy. Still, some economists don't expect higher interest rates to slow home sales until later this year.

Investors will be looking toward the jobs data for March, to be issued by the government Friday, for an indication of whether the economic strength is being sustained. With unemployment at a healthy 4.7 percent, the report is expected to show that employers added 178,000 jobs last month, according to a survey of economists by the data provider FactSet.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was unchanged this week at 0.5 point. The fee on 15-year loans rose to 0.5 point from 0.4 point last week.

Rates on adjustable five-year loans ticked up to 3.19 percent from 3.18 percent. The fee remained at 0.4 point.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

EPR Properties, a publicly traded specialty real estate investment trust based in Kansas City, Missouri, announced Thursday a deal to purchase Magic Springs Theme & Water Park in Hot Springs and to retain Premier Parks LLC as its operator.

The agreement also awards a 40-year operating lease on Magic Springs and 11 other theme and water parks.

"Magic Springs has an even brighter future under this new agreement with EPR Properties as it gives Premier Parks new resources to grow and improve our theme and water parks," Premier Parks CEO Kieran Burke said in a press release. "The new 40-year operating leases awarded in conjunction with this purchase gives our parks much greater stability and investment in the years to come."

Patrons should see no changes in the day-to-day operations of the park, which is open for the 2017 season on weekends this month and daily starting in late-May, Burke said.

EPR Properties stock is traded on the New York Stock Exchange under the symbol EPR. The terms of the purchase were not included in the press release, but an 8-K filing with the Securities & Exchange Commission said EPR and two other companies had completed on Thursday the purchase of substantially all of the assets of CNL Lifestyle Properties Inc. The aggregate price for a California ski resort, 15 water parks and amusement parks and five family entertainment centers was $455.5 million.

The operating lease agreement with Premier Parks covers Magic Springs as well as parks in nine other states.

Mike Neil has joined Absolute Heat & Air in Springdale as a partner. He joins the company with more than 15 years of experience working for HVAC companies.

Drew Laning was recently hired at Flake & Kelley Commercial as a sales and leasing agent in Little Rock. His primary focus will be introducing businesses and individuals with space needs to the available spaces in the company’s inventory.

Before joining Flake & Kelley, Laning was a professional golfer for 11 years.

Pat Thomas was recently hired by Mainstream Technologies as a Tier II service engineer. He will be a technical leader for the company’s day-to-day IT client support operation.

He has 13 years of experience, mainly with Acxiom Corp., where he provided general application support, migration and ender solutions.

See more of this week's Movers & Shakers, and submit your own announcement at ArkansasBusiness.com/Movers.

The sale-leaseback of the Dave & Buster's in Little Rock weighed in at $8.1 million.

National Retail Properties Ltd. of Orlando, Florida, bought the 30,346-SF project at 10900 Bass Pro Parkway from Dave & Busters of Arkansas Inc. of Dallas.

The 5.42-acre site was acquired for $2.36 million in September 2015 from Town Center LLC, led by Tommy Hodges.

Burger King Buy
A sale-leaseback of a 2,800-SF fast-food eatery in west Little Rock tipped the scales at $1.33 million.

Sattler Investments LLC of Jonesboro purchased the Burger King at 14916 Cantrell Road from FRP Cantrell Falls LLC, led by Dominic Flis.

The 1.19-acre development previously was linked with a December 2011 mortgage of $1.2 million held by Simmons Bank of Pine Bluff. The location was bought for $880,000 in July 2008 from 14910 Cantrell LLC, led by Steve Hockersmith.

Malmstrom Deal
An 11,125-SF office complex in west Little Rock is under new ownership after a $1.12 million deal.

Buckstaff Kanis Holdings LLC, led by Doug Malmstrom, acquired the 11,125-SF office complex at 11617-21 Kanis Road. The seller is Malmstrom Family Ltd. Co. LLC, led by Patrick Malmstrom.

The deal is financed with a seven-year loan of $952,000 from IberiaBank of Lafayette, Louisiana. The 3-acre development previously was tied to a January 2003 mortgage of $552,000 held by Pulaski Bank & Trust of Little Rock.

The property was purchased for $515,000 in March 2002 from Bird & Bear Enterprises Inc., led by Jay Heflin.

Convenient Sale
A convenience store in south Little Rock rang up a $500,000 sale.

Anwer Hemani bought the Super Stop project at 6828 Col. Glenn Road from Young and Ji Chang.

The deal is backed with a seven-year loan of $400,000 from Arvest Bank of Fayetteville.

The 0.6-acre development previously was tied to a January 2016 mortgage of $206,199 held by Arvest.

The Changs acquired the property for $400,000 in January 2011 from James and Mal Chung.

Shriners Acquisition
A 3,683-SF office building in downtown North Little Rock drew a $470,000 transaction.

Scimitar Shriners Holding Corp., led by Glen Jackson and David Adams, purchased the 632 W. Broadway project from 5 Star Corp. of Meadville, Pennsylvania.

The 1.01-acre site was bought for $5,000 in December 2001 from MJK Co., led by Jean Carl.

Apartment Purchase I
A 12-unit apartment project in midtown Little Rock sold for $395,000. J. Hoffman Properties LLC, led by James Hoffman, David Rapp and Brian Teeter, acquired the 5919 W. 19th St. project.

The seller is Scott Street Apartments LLC, led by Jason Bolden.

The deal is funded with a one-year loan of $439,120 from Simmons Bank.

The 0.53-acre development previously was linked with a July 2013 mortgage of $310,250 held by Central Bank of Little Rock.

The property was purchased for $350,000 nearly four years ago from KMN Properties LLC, led by K. Mike Nutting.

Apartment Purchase II
Apartments in south Little Rock changed hands in a $250,000 deal.

Town Creek LLC, led by Randy Ferguson, bought nine units at 3518 Arapaho Trail and the neighboring six units at 3426 Arapaho Trail from Elgin and Anita Junior.

The combined 0.78-acre development previously was tied to a February 2006 mortgage of $310,000 held by One Bank & Trust of Little Rock.

The Juniors acquired the property for $315,000 more than 11 years ago.

The sellers were Donald and Sharon Smith.

Sologne Manor
A 4,985-SF home in the Sologne Circle neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $900,000 deal.

Amanda Patterson purchased the house from Kevin and Mary Handley. The deal is financed with a 15-year loan of $100,000 from Southern Bancorp Bank of Arkadelphia.

The residence previously was linked with a July 2013 mortgage of $668,000 held by Wells Fargo Bank of Sioux Falls, South Dakota.

The Handleys bought the property for $835,000 more than three years ago from William and Wendy Raney.

Deauville Abode
A 7,262-SF home in the Deauville Place neighborhood of west Little Rock’s Chenal Valley development rang up an $875,000 sale.

Donald Marshall Jr. acquired the house from Robert Clancy Jr.

The deal is backed with a five-year loan of $514,443 from Southern Bancorp Bank.

The residence previously was tied to a June 2015 mortgage of $600,000 held by Bear State Bank of Little Rock.

Clancy purchased the property for $900,000 nearly two years ago from Bhu and Jyoti Makan.

Cliffewood House
A 2,991-SF home in Little Rock’s Cliffewood neighborhood drew a $753,000 transaction.

Jason and Abby Holsclaw bought the house from James and Elizabeth Smitherman.

The deal is funded with a 30-year loan of $543,000 from IberiaBank.

The residence previously was linked with an April 2016 mortgage of $652,000 held by U.S. Bank of Cincinnati.

The Smithermans acquired the property for $815,000 a year ago from Coleman and Shannon Treece.

Heights Residence
A 3,903-SF home in the Heights neighborhood of Little Rock sold for $739,900.

Gregory and Brittany Wood purchased the house from Jonathan and Jennifer Bricker.

The deal is financed with a 30-year loan of $369,950 from Arvest Bank. The residence previously was tied to a December 2016 mortgage of $385,000 held by BancorpSouth Bank of Tupelo, Mississippi.

The Brickers bought the property for $445,000 in December 2010 from GSA Home Equity Trust 2007-5 Asset-Backed Certificates Series 2007-5.

Courts Home
A 4,705-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development changed hands in a $542,532 deal.

David and Blair Greenwood acquired the house from Matthew and Amber Enderlin.

The deal is backed with a 30-year loan of $424,100 from Simmons Bank.

The Enderlins purchased the property for $440,000 in September 2010 from Jodi and Raymond Barboza.

Club House
A 2,797-SF home near the Country Club of Little Rock is under new ownership after a $520,000 sale.

Scott Tabor bought the house from Wells Fargo Bank, trustee of Banc of America Securities Inc. Pass-Through Certificates, Series 2004-7.

The deal is funded with a 10-year loan of $467,480 from IberiaBank.

The property was recovered at a $510,000 foreclosure sale in March 2016 from James and Kathleen Atkins.

The residence previously was tied to a May 2004 mortgage of $616,000.

Seven-Digit Construction

Cyclotron       $5,500,000
9015 Carti Way, Little Rock
Nabholz Construction Corp., Conway

New Home    $2,100,000
20 Varennes Court, Little Rock
Markus Homes, Little Rock

Office Renovation    $1,214,431
Wilson & Associates
400 W. Capitol Ave., Little Rock
D&N Construction LLC, Vilonia

The seven justices who sit on the Arkansas Supreme Court have a wide range of business investments, from property to tower rent for a radio station.

A glimpse of their income streams and business holdings are offered in their 2016 statements of financial interest, which are on file with the Arkansas secretary of state’s office.

But since the reports don’t require exact dollar amounts, but rather a range, hard numbers are impossible to come by, with holdings measured in only these categories: those worth more than $1,000 and those worth more than $12,500.

The statements of financial interest do not list the justices’ salaries, but Chief Justice John “Dan” Kemp earns $180,000 annually. The associate justices all make $166,500 a year.

Kemp had the most line items for investments or business holdings with 45. Of those, eight were worth more than $12,500 and 37 were worth more than $1,000 but less than $12,500.

Arkansas Ethics Commission Director Graham Sloan said the filings are useful in identifying potential conflicts of interest. David J. Sachar, the executive director of the Arkansas Judicial Discipline & Disability Commission, said the filings also are helpful because they list gifts the received by the justices.

Only two justices reported receiving gifts in 2016. Associate Justices Josephine Hart and Karen Baker both reported gifts from the Pound Civil Justice Institute of Washington for travel/accommodations reimbursement in July and the Southern Regional High Courts Conference held in September. Hart listed the total value of the gifts at $2,536, and Baker put the price at $2,207.The filings also show:

Chief Justice John "Dan" Kemp
Position 1
Year Elected: 2016

Other sources of revenue include more than $12,500 to his wife from the Arkansas Teacher Retirement System.

WRD Entertainment Inc. of Batesville paid between $1,000 and $12,500 in radio tower rent, and property in Mountain View brought in a similar range of rent.

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Associate Justice Robin F. Wynne
Position 2
Year Elected: 2014

Wynne had more than $12,500 in income from the Arkansas Public Employees Retirement System and between $1,000 and $12,500 from the University of Arkansas at Little Rock’s Bowen School of Law for his work as an adjunct professor.

He listed only two business or investment holdings, one valued between $1,000 and $12,500 and the other valued at more than $12,500.

---

Associate Justice Courtney Hudson Goodson
Position 3
Year Elected: 2010

In 2016, other sources of income came from her husband, John Goodson, a Texarkana attorney and a trustee of the University of Arkansas System. Those include: Northshore Thoroughbred Racing of New York, his law firm and Omaha Land & Cattle LLC of Omaha, Texas.

She listed 25 business or investment holdings, 20 worth more than $12,500.

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Associate Justice Josephine L. Hart
Position 4
Year Elected: 2012

Hart earned income from rental property in Mountain View and Batesville that was valued between $1,000 and $12,500. She also received dividends from investment accounts.

She listed 14 business or investment holdings, with 12 of the entities worth more than $12,500.

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Associate Justice Shawn A. Womack
Position 5
Year Elected: 2016

Womack’s other sources of income include rental income in Mountain Home, which generated between $1,000 and $12,500 last year.

He has six entries for business or investment holdings, three valued between $1,000 and $12,500 and the others worth more than $12,500.

---

Associate Justice Karen R. Baker
Position 6
Year Elected: 2010

Other income came from her husband, David R. Hogue, who works for the Arkansas Highway & Transportation Department, and farm income of between $1,000 and $12,500 in 2016.

She listed eight business holdings or investments, seven of which had a value of more than $12,500.

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Associate Justice Rhonda K. Wood
Position 7
Year Elected: 2014

Wood income sources included the Conway property management firm she owns with her husband, MDJD LLC, which earned more than $12,500 in 2016.

Her husband is Dr. Michael Wood, who is the president of Renaissance Women’s Center in Conway and practices there.

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The Little Rock office market experienced negative absorption of 41,210 SF during fourth-quarter 2016, primarily from departures in Class B and C office properties. The vacancy rate ended the year at 8 percent, down 0.2 percentage point from the year-earlier quarter.

“The Little Rock office market finished with net absorption of 72,801 SF for 2016,” said John Martin of Moses Tucker Real Estate of Little Rock. “Downtown had another strong quarter with over 22,000 SF of absorption and with a current vacancy of 6.3 percent. The west Little Rock and midtown submarkets, however, both had negative absorption in the fourth quarter of over 36,113 SF and 25,437 SF respectively. The WLR submarket had a vacancy rate of 8.7 percent, and midtown had a vacancy rate of 7 percent.

“Market conditions continue to point toward new development in space with 70,000 SF under construction. Rental rates are expected to remain stable throughout the first part of 2017.”

A change of ownership is in motion for Little Rock’s One Bank & Trust. The U.S. government has asked for a court-ordered stock sale of controlling interest in the $305 million-asset bank.

No date has been set for the sale, but a proposed order indicates the sale will be held at the Marshals Service office at the federal courthouse in Washington.

Court filings reveal several parties that have expressed an interest in possibly acquiring One Bank: Bank of England, First Financial Banc Corp., parent company of El Dorado’s First Financial Bank; EJF Capital LLC of Arlington, Virginia; Home BancShares Inc. of Conway and Arvest Bank of Fayetteville.

“Half a dozen have looked at the bank,” said Paul Berry, chairman of the board at One Bank. “Some have performed due diligence and some haven’t.

“There are several potential suitors still in play, at least three or four, maybe five.”

For now, ownership of One Bank continues to reside with its insolvent parent company, OneFinancial Corp. The 344,577 shares held by OneFinancial represent a 99 percent stake in the struggling bank.

Rocked by bad loans and mismanagement, One Bank hasn’t produced a normal quarterly profit since the Office of the Comptroller of the Currency ousted Layton “Scooter” Stuart in September 2012.

Stuart, chairman, president and CEO of the bank and OneFinancial at the time, once controlled the shares now in play. He died on March 26, 2013.

The stock has been held in escrow since it was seized by U.S. Marshals on Nov. 3, 2015. The seizure was made in advance of the Department of Treasury obtaining a massive default judgment against OneFinancial on Jan. 11, 2016.

“They are the de facto owner of the bank,” said Berry, a One Bank director since 2001.

Treasury’s $47.9 million judgment represents the balance of a triple-damage award tied to its TARP funding fraud claim.

Under Stuart’s direction, OneFinancial obtained $17.3 million in TARP funds to stabilize One Bank’s deteriorating capital.

The government claimed the bank’s true financial condition was misrepresented to gain the much needed funding and that some TARP money was illegally spent by Stuart.

The TARP debt alone, without the multiplying effect of the default judgment, exceeds the value of the only asset of OneFinancial: One Bank & Trust.

Another OneFinancial liability is $8 million of trust-preferred securities issued in 2004 and in 2006.

TruPS payments can be deferred up to five years without a technical default. The clock on OneFinancial’s deferral runs out this year, said Bob McPherson, managing director in the Memphis office of StoneCastle Financial Corp.

“We will fight to uphold the integrity of the capital structure,” McPherson said. “We make our living investing in banks, not pushing them into bankruptcy or some unrealistic collection effort.”

Jerry Pavlas, CEO of One Bank, believes that if Treasury takes over ownership of the bank shares, it will effectively wash out the TruPS debt and free the stock from any security claim.

“Which we’re good with because this creates a clear path to consummate a deal,” Pavlas said.

In addition to a possible sale, Pavlas has worked on potential deals to recapitalize One Bank with an investment group composed of institutional and private investors.

Pavlas, who was hired to replace Stuart, could reap added reward through stock options granted to the key executive management at One Bank.

“We have stock options that we’ve earned over the past five years,” he said. “We’re minority shareholders.”

But whether that’s 2 percent or 49 percent is unknown. Pavlas declines to disclose the size of the minority position.

Who else was granted options besides Pavlas and Jim Schnoes, executive vice president and chief financial officer?

“I’d rather not say,” Pavlas said.

One Bank & Trust, Little Rock
Staff: 73
Full-Service Locations: Little Rock 7; North Little Rock, 1
(All dollars in thousands)

*Loans that are 90 days or more past due.
**Reflects net unrealized loss of $978,000 on available-for-sale securities.
#Reflects a $3 million extraordinary item, money released from seized assets of Scooter Stuart held by the U.S. government. The cash reimbursed One Bank for premiums paid on the life insurance policy of Stuart, former owner and CEO of One Bank.
##Reflects a $1 million settlement the bank received in a lawsuit against Travelers Indemnity Co., an affiliate of St. Paul Mercury Insurance Co. The dispute was tied to One Bank’s efforts to collect $2 million on its financial institution bond for coverage that included “dishonesty of employees.”
+Reflects a $403,000 gain on the sale of mortgages on the secondary market.
++Reflects a $6.92 million extraordinary item, final settlement release of seized assets of Scooter Stuart held by the U.S. government.

Loose Ends
Two dormant lawsuits at One Bank were restarted recently. One dates back to 2013 against its former chief financial officer, Tom Whitehead. The other against its parent company, OneFinancial Corp., dates back to 2014.

On March 31, One Bank filed a motion for summary judgment against Whitehead with allusions to and excerpts from his testimony during the October 2016 criminal trial of two former colleagues, Michael Heald and Brad Paul.

Heald, former chief operating officer, and Paul, former executive vice president, were acquitted of charges they helped conspire to defraud the U.S. government in association with obtaining $17.3 million in TARP funds for One Bank. Whitehead was given immunity in exchange for his testimony during the three-week trial.

One Bank’s case against Whitehead, filed on May 20, 2013, began as an $84,000 debt-collection suit and escalated into counterclaims, amended claims and amended counterclaims. One Bank first sought $62,000 owed on a loan and unpaid interest plus more than $20,000 owed on a One Bank Visa account.

Whitehead counterclaimed that the debt was tied to a lease agreement the bank allegedly breached on a Mountain Harbor condominium near Lake Ouachita. One Bank “compelled him” to buy and take on debt associated with the condo for the benefit of the bank, according to Whitehead. The condo debt was to be repaid by monthly lease payments from the bank.

One Bank responded with an amended complaint against Whitehead for aiding and abetting Scooter Stuart in defrauding the bank of more than $2 million. The bank also alleged that Whitehead personally profited from the condo deal.

About a $1 million went to Stuart, the bank claims, and the remainder was tied to alleged damages from two fraudulent loans orchestrated to buy homes for his son and daughter.

In his amended counterclaim, Whitehead alleged the bank owes him $1.5 million from its senior employee retirement plan.

One Bank denied the claim, saying that Whitehead forfeited his SERP benefits when he was fired “for just cause” on Dec. 27, 2012.

The case was put on hold a month before the start of a trial scheduled for May 2015 in Pulaski County Circuit Court. The catalyst for the extended continuance was an expected criminal trial involving Whitehead.

He was indicted with Heald and Paul. However, the charges against Whitehead were dropped as part of his deal with federal prosecutors.

A fourth defendant, former One Bank EVP Gary Rickenbach, was sentenced to two years of probation and 100 hours of community service in December as part of a plea agreement.

Last month, One Bank also renewed its pursuit of more than $700,000 in damages against OneFinancial, the lone defendant remaining in the civil case.

The original defendants in the lawsuit included Rivercity Energy Co., Richard Torti Sr., as successor trustee of the Stuart Family 1997 Trusts, Richard Torti Sr., as personal representative of the estate of Layton P. Stuart, deceased, Tom Whitehead and JAS Properties LLC.

In its original complaint filed after Stuart’s death, One Bank claimed OneFinancial was an alter ego of Stuart that he used to defraud the bank he owned.

A default judgment appears to be a forgone conclusion. The rudderless bank holding company has no money and no one at the corporate wheel.

Pavlas and Berry couldn’t explain what the bank hopes to gain from a judgment against its insolvent parent company. They said it was something that just needed to be done.

Out-of-state acquisitions by publicly traded banks pushed total assets reported by Arkansas charters up by almost 17 percent to more than $88 billion at year-end 2016.

Net income reported by 101 charters grew by 22 percent, to pass the $1 billion mark for the first time. A quarter of that profit was posted by Bank of the Ozarks of Little Rock.

BOZ nearly doubled its assets last year, to almost $19 billion, by acquiring Community & Southern Bank of Atlanta and C1 Bank of St. Petersburg, Florida.

Simmons Bank of Pine Bluff, No. 4 on the list below, reported double-digit asset growth in 2016, in part because of its acquisition in October of the Citizens National Bank of Athens, Tennessee. Since then, Simmons has announced three more out-of-state acquisitions, in Tennessee, Oklahoma and Texas, that are still pending.

The same trend that allowed the largest banks to grow has continued to whittle away at the number of separate bank charters. The total dropped from 104 at the end of 2015 to 101 as of Dec. 31, 2016. Since then, two more charters have been absorbed, putting the total at less than 100 for the first time in living memory, and one more merger is pending.

The Arkansas State Bank Department confirmed that the acquisition of No. 86 Pinnacle Bank of Rogers by No. 73 Central Bank of Little Rock was completed on March 31. The value of the deal, involving some common ownership and in the works since September, has been estimated at $3.4 million.

No. 71 Twin Lakes Community Bank at Flippin, was rolled into sister charter Anstaff Bank of Green Forest on March 4. The two banks had combined assets as of Dec. 31 of about $565 million.

Regulatory approval is pending on the announced acquisition of Farmers Bank of Hamburg, the third-smallest bank in the state, by No. 11 Southern Bancorp Bank of Arkadelphia.

Arkansas Banks Ranked by 2016 Net Income

The popular fast-food restaurant chain Chick-fil-A appears headed to a spot in the Pinnacle Hills area of Rogers.

No formal plans have been submitted to the city for the development, which will be adjacent to the Chuy’s and Pei Wei restaurants on Pauline Whitaker Parkway. Chick-fil-A, based in Atlanta, has eight locations in northwest Arkansas, including two in Rogers.

The area has become a popular site for developers for its location across Interstate 49 from the Pinnacle Hills Promenade shopping center. The 10-story Hunt Tower office building recently opened and Wal-Mart opened the Arkansas Music Pavilion in 2014.

Joe Whisenhunt’s Whisenhunt Investment Group of Little Rock is developing a 55-acre lot south of Pauline Whitaker that will include 40,000-SF of retail and a three-building office complex.

Carl Garrett, who owns Table Mesa Bistro in downtown Bentonville, will open a restaurant called Mirabella’s Table in the development, and Smitty’s Garage Burgers & Beer of Norman, Oklahoma, is expected to open its second Arkansas location there as well.

A retail project in west Little Rock, commercial property in Sherwood, a parking lot in downtown Little Rock and two homes provide our five piece of multimillion-dollar transactions.

• Beefam LLC and Bonerts MV LLC of Santa Ana, California, purchased a 7,457-SF retail project at 17701 Chenal Parkway that’s home to Pei Wei and Mattress Firm for $4 million.

Seller: An affiliate of Thompson Thrift Development Inc. of Terre Haute, Indiana.

• Terraforma LLC and 5620 Warden Road LLC, both led by Doug Meyer and David Bruning, sold the 2.9-acre 4Wheel Parts development at 5620 Warden Road and the 2.34-acre Carhop development at 5600 Warden Road.

Bayird Properties LLC, led by Keith and Amy Bayird, paid $2.4 million for the Sherwood properties.

• Scion Investments LLC, led by Reed Lynch, bought the parking lot on the east side of Broadway between Third and Fourth streets for $2.1 million.

Seller? 301 South Broadway LLC, led by the S. Gene Cauley Irrevocable Trust.

• Craig and Elizabeth Campbell sold a 4,996-SF home in the Palisade Estates neighborhood of Cammack Village for $1.9 million.

Buyer: Palisades Park LLC, led by Lambert Marshall Jr.

• RAL Revocable Trust, led by Marilyn Rene Nauman, acquired a 7,099-SF home in the Sologne Circle neighborhood of west Little Rock for $1.2 million.

Seller: Lowell Steven Jumper & Sheila Dianne Jumper Revocable Trust.

A foreclosure suit recently came calling on the home of Little Rock businessman Walter Quinn. Malvern National Bank claims more than $1.2 million is outstanding on a loan secured by the Riverview Point residence. The loan has been in default since November, according to the bank.

Quinn is a leading shareholder in Rock Bancshares Inc., parent company of Little Rock’s $205 million-asset Heartland Bank. He stepped down last year as a bank director and as chairman, president and CEO of Rock Bancshares.

Other defendants in the case are his wife, Terry, and the Quinn Living Trust.

You might recall that Malvern National holds a first mortgage claim on the 7,490-SF house.

Chronologically speaking, Prosperity Bank of El Campo, Texas, filed the first foreclosure action in September and is second in line.

Prosperity is seeking a $1.2 million judgment on a 2012 loan, which is in default.

That debt is tied to a $4.9 million consent judgment in Tulsa’s federal court and connected with a 2013 mortgage secured by the house and a string of Quinn’s business interests.

Both bank debts are personally guaranteed by the Quinns and their Quinn Living Trust, which owns the residence.

The Prosperity debt began as a pair of delinquent loans associated with Walter Quinn’s soured oil and gas investments.

In March, American Express Bank of Salt Lake City sought a default judgment against Walter Quinn for $12,766 owed on credit card charges. The action was taken after he failed to respond to the complaint, which dates back to November.

WASHINGTON — Long-term U.S. mortgage rates fell for a fourth straight week, with the benchmark 30-year rate marking a new low for the year.

Mortgage buyer Freddie Mac said Thursday the rate on 30-year fixed-rate home loans declined to 4.08 percent this week from 4.10 percent last week. That brought the rate under its previous 2017 low of 4.09 percent reached on Jan. 19. The 30-year rate stood at 3.58 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971.

The rate on 15-year mortgages eased to 3.34 percent from 3.36 percent last week.

U.S. jobs data issued by the government last week showed that employers added a net 98,000 jobs in March. But in the past three months, employers have added an average of 178,000 jobs a month. That is just slightly below the average monthly pace of hiring last year.

Some investors saw the data as an indication that the economy's strength may be ebbing as it continues to recover from the Great Recession. That dimming of investor confidence drove prices of long-term Treasury bonds higher over the past week. That pushed their yields lower. Bond yields move opposite to prices and influence long-term mortgage rates. The yield on the 10-year Treasury note tumbled to 2.24 percent Wednesday from 2.33 percent a week earlier. It rose to 2.26 percent Thursday morning.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was unchanged this week at 0.5 point. The fee on 15-year loans also remained at 0.5 point.

Rates on adjustable five-year loans eased to 3.18 percent from 3.19 percent last week. The fee held at 0.4 point.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Patricia Blick
Executive Director of the Quapaw Quarter Association in Little Rock

Before coming to the QQA, where she was named executive director in January, Blick was the assistant director of the Arkansas Historic Preservation Program, where she had worked since 2010. Before coming to Arkansas, she was the chief of historic preservation for the city of Annapolis, Maryland. Blick also had served as vice president of preservation and education at the Historic Annapolis Foundation.

Blick has a Master of Arts in American studies and historic preservation from George Washington University in Washington, D.C., and a bachelor’s in economics from James Madison University in Harrisonburg, Virginia.

Patricia Blick is the chair-elect of the National Alliance of Preservation Commissions.

Please explain the mission of the Quapaw Quarter Association.

The mission of the QQA is to preserve greater Little Rock’s historic places. Historic places may be commercial buildings, residential homes, whole neighborhoods or even archeological sites. We advocate, educate and sometimes market such places. The QQA owns one such property, the William E. Woodruff House near Hanger Hill, built by the founder of the Arkansas Gazette and stabilized through state and city grant funds and use of the QQA endowment. We hope to sell it soon.

What useful lessons do historic preservation efforts have to teach businesspeople?

Businesspeople sometimes underestimate the economic benefit of historic preservation and may hold misconceptions about preserving historic properties. Some misconceptions: You can’t change a historic building, it is impossible to bring historic buildings up to code, and rehabilitation of historic properties is prohibitively expensive.

Rehabilitation is the sensitive renovation of historic properties for a new use. From a preservationist perspective, the best way to save historic buildings is to keep them in productive use. Historic properties do have challenges when it comes to compliance with current codes, but experienced and creative design professionals can work with city officials to find practical and economically viable solutions to update the properties to modern safety requirements.

Federal and state historic tax credits may also make restoration an efficient solution.

What’s something our readers might be surprised to know about the association?

The QQA will be 50 years old next year. It was incorporated on Nov. 22, 1968. As such, it is one of the two oldest preservation organizations in Arkansas, second only to the Pioneer Washington Foundation. The Spring Tour of Homes, for which the QQA is known by so many, preceded the establishment of the organization! This year’s 53rd Spring Tour of Homes will be held on Mother’s Day weekend in the Governor’s Mansion Historic District, and includes six wonderful historic homes, some of which have never been on tour. In the early years, the tour included the same landmark properties year after year. After the 1975 tour, the QQA has featured mostly single-family homes and has emphasized neighborhood preservation.

How did you get involved in this field?

First, living abroad at an early age, coupled with extensive travel, exposed me to different cultures and architecture. The other influential experience was working at Mount Vernon, the home of George Washington. While I was in high school, my family lived on property that at one time had been part of the Mount Vernon Estate. I worked at the historic site for several years. To say that the experience was transformative is an understatement. At Mount Vernon, you walk in the footsteps of George Washington, you enjoy the property he tended for most of his life, and you share the experience with the visitors. Mount Vernon survived due to very early work of preservationists. That experience was the single greatest influence on my decision to work in the preservation field.

Redevelopment of a 31,884-SF retail project in west Little Rock is in motion after a $3.03 million transaction.

PTCOA Shackleford Clinic LLC, led by Dr. Meraj Siddiqui and Dr. Ronald Tilley, bought the Nichols Furniture store at 108 N. Shackleford Road.

The seller is Nichols Building LLC, led by John Nichols. The deal is financed with a seven-year loan of $4.2 million from First Community Bank of Batesville.

The 2.35-acre development was acquired for $1.7 million in July 1987 from Phoenix Properties Inc., led by Patsy Thomasson.

Burger Buy
A 9,364-SF office-eatery project in Maumelle tipped the scales at $1.4 million.

Atkinson Properties LLC, led by Russell and Ric Atkinson, purchased the David’s Burgers at 102 Country Club Parkway. The seller is Anchor Realty Investments LLC, led by Alan Bubbus.

The deal is funded with a $919,382 loan from Central Bank of Little Rock.

The 1.27-acre development previously was tied to a December 2014 mortgage of $995,400 held by First State Bank of Russellville.

Anchor Realty bought the property for $510,000 more than two years ago from Arvest Bank of Fayetteville.

Warehouse Sale
A 29,800-SF warehouse complex in Little Rock weighed in at $1.3 million.

Store Master Funding X LLC, an affiliate of the Store Capital real estate investment trust in Scottsdale, Arizona, acquired the Arkansas Wholesale Lumber Co. project at 3801 Mabelvale Pike for $1.3 million. The seller is Wayne & Robby L. Ridout Family LLLP.

The deal is backed with a $1.3 million funding agreement administered by Citibank of New York. The 12.53-acre development previously was linked with a March 2014 mortgage of $460,650 held by First Community Bank.

The property was purchased for $450,000 in November 2008 from the Gene & Dorothy G. Trickey Joint Revocable Trust.

Convenient Redevelopment
A 2,460-SF convenience store in the Riverdale area of Little Rock changed hands in a $520,000 deal.

WG Arkansas LLC, led by Will Rockefeller, bought the 1402 Rebsamen Park Road project.

The seller is F. Schuman-R. Kaye Co. LLP, led by Marlene Adleman.

The 0.27-acre site was acquired for an undisclosed sum in September 1962 from the Housing Authority of the City of Little Rock.

Warehouse Land
A 31.9-acre industrial tract in North Little Rock rang up a $452,000 sale.

Zero Mountain Inc. of Fort Smith purchased the land adjoining the north and east side of its 1400 Gregory St. project from Central North Hills LLC, led by Dickson Flake.

The property was bought in January 2001 as part of a nearly $14 million deal with Central & Southern Cos. LLC, led by Henry Nichols.

Church Transaction
Jacksonville congregations were on either side of a $302,000 transaction.

Synagogue New Life Church acquired the 11,588-SF project at 2015 N. First St. from Bible Baptist Church.

The deal is financed with a five-year loan of $312,000 from BOKF of Tulsa.

The 1-acre location was purchased for $2,000 in October 1962 from Lena Wilson and Gene Wilson.

Agri Acreage
Eighty acres in southeast Pulaski County sold for $176,000.

Southern Forestry & Wildlife LLC, led by Benton Gann, bought the farmland and woods north of Arkansas 161 between Macedonia and Adams roads about 5 miles west of England.

The seller is Full Harvest Agricultural REIT II Inc. of Clarksdale, Mississippi.

The deal is funded with a three-year loan of $140,000 from First Security Bank of Searcy.

Full Harvest acquired the land in November 2012 as part of a 415-acre, $1.5 million transaction with Webb Family Farm LLC, led by Marilyn Webb Buffalo and Jim Webb.

H&D Acquisition
A commercial property in south Pulaski County is under new ownership after a $165,000 deal.

H&D Central Arkansas LLC, led by Hope Allen, purchased the 0.51-acre project at 11300 Arch St. Pike from Gary Shaw.

The property was bought for $125,000 in July 2011 from Earl and Debra Godwin.

Mortuary Property
A 7,000-SF funeral home in North Little Rock drew a $150,000 transaction.

Robinson Mortuary Inc., led by Kenneth Robinson, acquired the 4511 E. Broadway project from Bliss and Linda Douthwright.

The deal is backed with a five-year loan of $120,000 from First Security Bank.

The 0.38-acre development previously was tied to a July 2010 mortgage of $80,000 held by U.S. Bank of Cincinnati.

The property was purchased for $90,000 in July 2005 from Betty King.

Waterview Estates
An 8,876-SF manor in the Waterview Estates neighborhood of west Pulaski County tipped the scales at $1.7 million.

Rodney and Amber McCarver bought the 5.5-acre spread overlooking Lake Maumelle from Gregory and Brittany Wood.

The deal is financed with a 30-year loan of $1.5 million from Arvest Bank. The residence previously was linked with a December 2013 mortgage of $750,000 held by the bank. The Woods family acquired the property for $1.2 million in March 2010 from 2610 Acres LLC, led by Rick Ferguson.

Deauville Abode
A 5,770-SF home in the Deauville Place neighborhood of west Little Rock’s Chenal Valley development changed hands in an $887,000 deal.

JEC Holdings LLC, led by John Ed Chambers, purchased the house from Robert and Casey Love. The property was secured by a 2013 mortgage of $718,000 held by Fairway Independent Mortgage Corp. of Plano, Texas.

The property was bought for $826,000 in August 2007 from Kevin Hannah.

Lakewood Residence
A 6,470-SF home in North Little Rock’s Lakewood Park neighborhood rang up a $660,000 sale.

Suresh and Rohini Shah acquired the house from Gerald and Willodean Burger.

The deal is funded with a 30-year loan of $528,000 from Arkansas Federal Credit Union of Jacksonville.

The residence previously was tied to an August 2005 mortgage of $383,500 held by Bank of England Mortgage Co.

The Burgers purchased the location for $69,000 in August 1993 from Eagle Development Co., the real estate arm of Little Rock’s Rebsamen Insurance Co.

Woodland’s Home
A 4,754-SF home in the Woodland’s Edge neighborhood of west Little Rock is under new ownership after a $535,000 transaction.

Paul and Patti Moser bought the house from Ron and Victoria Tyne. The deal is backed with a 15-year loan of $424,094 from BOKF.

The residence previously was linked with a February 2014 mortgage of $413,000 from BancorpSouth Bank of Tupelo, Mississippi.

The site was acquired for $75,000 in July 2013 from Rocket Properties LLC, led by Ron Tyne and Lisenne Rockefeller.

Seven-Digit Construction

Warehouse Addition    $4,500,000
Gateway Tire
6201 Patterson Road, Little Rock
EM Construction LLC, Bath, Ohio
 
High School Addition            $1,400,000
Baptist Preparatory School
8400 Ranch Blvd., Little Rock
AMR Construction LLC, Little Rock

20 units    $1,200,000
Stonecrest Apartments
9700 Baseline Road, Little Rock
Stonecrest Apartments LLC, Jacksonville