Church sale. (Real Deals).
Parkway Place Baptist Church Inc. purchased the Lord of Life Lutheran Church at 800 Kirby Road. The seller is the Mid South District of the Lutheran Church-Missouri Synod.
The deal is financed with a five-year loan of $1.05 million from Superior Federal Bank of Fort Smith.
The 6.1-acre development previously was tied to a February 1990 mortgage of $400,000 held by the synod.
The synod acquired the property for $301,000 in April 1988 from Winrock Development Co., led by Russ McDonough.
Winrock bought the land as part of two transactions totaling $111,000. The sellers were Glenda Pehrson, $93,000 in May 1986; and Ken and Billie Jo Medlock, $18,000 in January 1987.
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|Title Annotation:||Mid South District of Lutheran Church-Missouri Synod sells church|
|Article Type:||Brief Article|
|Date:||Sep 30, 2002|
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