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Weekly UpdatesA mental health project in Maumelle is securing a $3.8 million funding agreement.
United Methodist Behavioral Health System Inc., led by William Altom, obtained a 25-year loan of $2.9 million from the Arkansas Development Finance Authority of Little Rock and a five-year loan of $957,026 from First Security Bank of Searcy.
The 8-acre development at 1601 Murphy Drive previously was linked with a December 2006 mortgage of $2.9 million held by U.S. Bank of Minneapolis.
The corporation acquired the former Charter BHS project for $2 million in May 2001 from Crescent Real Estate Funding VII Ltd. of Fort Worth, Texas.
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