Richdale Development Group LLC, led by William Richardson, and Tisdale Properties and Development LLC, led by Tracy Tisdale; purchased the Whisperwood Townhouses & Apartments project at 8419 Base Line Road.
The sellers were W.J. and rune Walker. The deal was financed with a $700,000 loan from Bank of the Ozarks in Little Rock. The property previously was linked with an October 1997 mortgage of $450,000 held by Little Rock's Central Bank & Trust, now part of the Arvest chain.
The Walkers acquired the 4.1-acre development in August 1993 from the Federal Home Loan Mortgage Corp. for an undisclosed sum FHL Mortgage entered the ownership picture via a $760,000 foreclosure sale in June 1991.
The corporation recovered the project from Whisperwood Group Ltd., led by Jere M. Ervin. The limited partnership defaulted on a $1.1 million loan from Southern Federal Savings & Loan Association of Atlanta that was assigned to FHL Mortgage.
Whisperwood Group bought the property for $2.4 million in. May 1986 from Whisperwood Associates Ltd., led by C. David Griffin.
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 26, 2000|
|Previous Article:||Call Center Land.|
|Next Article:||Commercial Land.|
|Whisperwood deal. (Real Deals).|
|Applications approved under Bank Merger Act by Federal Reserve Banks. (Legal Developments).|
|Z. Lillian Downey, R.N.|