Holiday Inn Express Sale Checks In at $5.1 Million (Real Deals)

Holiday Inn Express Sale Checks In at $5.1 Million (Real Deals)

by George Waldon  on Monday, Aug. 22, 2016 12:00 am

Holiday Inn Express at 4306 E. McCain Blvd. in North Little Rock. (Abigail Fowler)

A 69-room hotel in North Little Rock weighed in at $5.15 million. CDRN NLR LLC, led by Ishverbhai Govind, purchased the Holiday Inn Express at 4306 E. McCain Blvd.

The seller is Kilpatrick Hotels Two LLC, led by G.T. Kilpatrick. The deal is backed with a three-year loan of $4.4 million from Capital Bank of Little Rock.

The 1.5-acre development at 4306 E. McCain Blvd. previously was linked with a September 2014 mortgage of $4 million held by Progressive Bank of Monroe, Louisiana.

Kilpatrick bought the property for $6.8 million in June 2008 from McCain Hotels LLC.