UC Funds, a commercial real estate specialty finance firm, closed on a $14 million first mortgage for the 263-key Four Points by Sheraton in Little Rock, Ark., with the sponsors behind the deal planning to acquire the property and complete a renovation for minor repairs and cosmetic improvements.
Originally built in 1978 and renovated in 2016, the hotel's amenities include an outdoor swimming pool and patio, a fitness center, a business center, a guest laundry room, roomservice and 12,000 square feet of meeting space. Additionally, the hotel has a full-service bar and restaurant and 300 parking spaces.
With a population of 198,606, Little Rock is the most populated city in Arkansas. The property is located in Midtown, 3.5 miles west of downtown Little Rock. The immediate proximity is comprised primarily of retail, medical office and residential neighborhoods. Points of interest include the Park Plaza Mall and the Park Avenue Lifestyle Center.
The property is one of only two full-service hotels from Marriott International in the market.