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Church sale. (Real Deals).

A west Little Rock church property is under new ownership after a $643,000 deal.

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
Author:Waldon, George
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1U7AR
Date:Sep 30, 2002
Previous Article:Eatery acquisition. (Real Deals).
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