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Bailey mortgage.

Two apartment projects in Pulaski County were used to secure a $1.2 million mortgage.

Bailey Properties LLC, led by John S. Bailey, got the one-year loan from Regions Bank of Birmingham, Ala.

The 170-unit Indian Hills Apartments project at 2011 Aztec Drive, an 8.8-acre development in North Little Rock, was purchased for $4.2 million in June 1997 from Love Apartment Communities of St. Louis.

The 52-unit Markham Oaks Apartments at 8118 W. Markham St., a 1.4-acre development in Little Rock, was acquired for $1 million in December 1996 from Wayne and Margy Carlson.

The projects also are backed with an August 2005 bond issue of $6.4 million through the Pulaski County Public Facilities Board.

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Article Details
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Title Annotation:Real Deals: A Look at Important Real Estate Transactions
Author:Waldon, George
Publication:Arkansas Business
Article Type:Brief article
Geographic Code:1U7AR
Date:Sep 21, 2009
Previous Article:Retail refinance.
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