Old England loan.(Real Deals: A Look at Important Real Estate Transactions)

The owner of more than 144 acres in North Little Rock picked up a $4.2 million financial package.

Old England Highway Land Co. LLC, led by Raymond Lackie Jr., received an 18-month loan of $1.4 million and a 20-month line of credit for $2.8 million from First Security Bank of Searcy.

The industrial land, located primarily at the northeast corner of Interstate 440 and U.S. 165, previously was linked with an August 2004 mortgage of $600,000 held by Little Rock's Bank of the Ozarks.

The property was bought for $324,000 nearly five years ago from North Little Rock Economic Development Corp., led by Hal Matthews.

Print Get the Mag Weekly Updates