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Article: Iron Creek purchase.(Real Deals: A Look at Important Real Estate Transactions)
- Article from:
- Arkansas Business
- Article date:
- September 21, 2009
- Author:
CopyrightCOPYRIGHT 2009 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Four commercial properties in Little Rock were recovered at a $1.62 million foreclosure sale.
Iron Creek Ventures Inc. of Frisco, Texas, took possession of the 0.7-acre Cleo's Furniture development at 812 Reservoir Road in west Little Rock and two adjoining half-acre parcels and the 1.1-acre 6211 Young Road property in southwest Little Rock.
The previous owner was Southway Corp., led by Newman McGee.
The real estate was used to secure a December 2002 mortgage of $1.37 million held by First Community Bank of Jonesboro and an April 2007 mortgage of $750,000 held by Pulaski Bank & Trust of Little Rock.
McGee assembled the ...