Larock Properties LLC, led by Cyril Murphy III and Lee Owens, obtained the five-year loan from Red River Bank of Alexandria, La.
The 6-acre location south of the Rave Motion Pictures project at 18 Col. Glenn Plaza Drive previously was tied to an August 2005 mortgage of $1.7 million held by Hibernia National Bank of New Orleans.
Larock purchased the property in a 67/33 split for $2.5 million nine months ago from Glenn Ridge Crossings LLC, led by Stephen Hockersmith, and LLEJ IV LLC, led by Leonard Boen.
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|Title Annotation:||Real Estate Transactions|
|Article Type:||Brief article|
|Date:||Jun 12, 2006|
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