Little Rock Residence Inn sells for $17.5M

The 107-room Residence Inn by Marriott at 219 River Market Ave., in Little Rock, Ark., is under new ownership. NF II/CI Little Rock LLC, an affiliate of Noble Investment Group of Atlanta, bought bought the hotel for $17.5 million, reports Arkansas Business.

The seller was MHG Little Rock RE Ltd., an affiliate of McKibbon Hotel Group Inc. of Gainesville, Ga.

The deal was reportedly financed with a 10-year loan of unspecified value from Wells Fargo Bank of Sioux Falls, S.D.

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The six-story project previously had a March 2012 mortgage of $12.6 million held by First Security Bank of Searcy.

 

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