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Weekly UpdatesA Little Rock congregation added to its holdings in two transactions totaling $1.3 million. St. Mark Baptist Church Inc. bought 1.5 acres near the southwest corner of Fair Park Boulevard and Interstate 630.
The sellers are AA Storage Development LLC, led by Scott Richburg, 0.75 acres along Taylor Street between Maryland for $844,000; and DD Development LLC, led by Dexter Doyne, 0.82 acres at the southwest corner of Fair Park Boulevard and the northeast corner of Taylor and 10th streets for $507,000.
AA Storage assembled its property in deals with Janis Moseley, $126,000 in April 2006; Patrick McDaniel, $92,000 in May 2008; and Stephen and Lora Smith, $130,000 in March 2009.
The properties previously were used to help secure three mortgages held by BancorpSouth Bank of Tupelo, Miss., a July 2008 loan of $439,500, a December 2007 loan of $110,000 and a May 2008 loan of $85,000.
DD Development assembled its property in two deals with John Isom Jr. and his wife, Odessa, $500,000 in July 2008; and Richard Torrance Jr. and Roderick Torrance St., $110,000 in December 2007.
Mixed in with the transactions was a $169,000 swap between AA Storage and St. Mark. The church received a 6,500SF lot at the southwest corner of Taylor and Maryland. AA Storage received a 6,200-SF lot at the northwest corner of Fair Park Boulevard and Maryland.
The church purchased its property in November 2007 as part of a $229,000 deal with Carole Sue Ellis. AA Storage acquired its property in April 2006 in a $43,000 deal with Janis Moseley.
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