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

A historic house turned office building in downtown Little Rock is backing a $650,000 financial package.

North Little Rock's Gibraltar National Insurance Co., led by Audra Welcher, got the six-month loan from Chambers Bank of Danville.

The 2.16-acre Packett House development at 1406 Cantrell Road previously was tied to a May 2004 mortgage of $363,000 held by Metropolitan National Bank.

Ownership of the 140-year-old building was transferred to the insurance company in November 2004 from Harvey Manufacturing Corp., led by Ed Harvey.

The property was purchased for $425,000 in June 1988 from Little Rock's Pulaski Bank & Trust, which entered the picture after a June 1987 foreclosure sale of $615,000. The bank recovered the property from Packett House Partnership, led by Larry and Margaret Carter and Steven Wilson.

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