Convenient funding.(Real Deals: A Look at Important Real Estate Transactions)

Three Little Rock convenience stores were used to help secure a $5 million funding agreement.

Coulson Properties Ltd. and White Properties II Ltd., led by Michael Coulson and Jimmy White, obtained the five-year loan from BancorpSouth Bank of Tupelo, Miss.

The projects at 1200 Shackleford Road, 8000 Geyer Springs Road and 10105 Interstate 30 previously were tied to a December 2003 mortgage of $2.13 million held by Metropolitan National Bank of Little Rock.

The 0.9-acre Shackleford Road site was purchased for $195,000 in September 1994 from Chevron USA Inc. of San Ramon, Calif.

Coulson bought the 1.72-acre Geyer Springs Road location in December 1992 from Twin City Bank for $375,000 ($5 per SF).

Coulson acquired the 1.17-acre Interstate 30 property in February 1995 as part of an $800,000 deal.

The sellers were Betty and Nick Holloway; Mary Jo Bolls and her husband, Lillard; Lillard L. Bolls III; James Bolls; Susan Holloway Pollock and her husband, Michael; and Jason Pollock.

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