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Editorial Results (free)

1. Hillwood Partnership Buys Airways Distribution Center -

Dallas-based Hillwood Investment Properties, in a partnership with Toronto-based Brookfield Asset Management Inc. and the Hillwood-Brookfield Industrial Partners fund, acquired the 556,000-square-foot Airways Distribution Center Building D in the DeSoto County submarket.

2. Hillwood Partnership Acquires Airways Distribution Center -

Dallas-based Hillwood Investment Properties, in a partnership with Toronto-based Brookfield Asset Management Inc. and the Hillwood-Brookfield Industrial Partners fund, acquired the 556,000-square-foot Airways Distribution Center Building D in the DeSoto County submarket.

3. Changing Market -

Much of 2012’s commercial real estate deals could be summed up in one of three phrases: speculative construction, institutional buyers and unusual transactions.

The first quarter was kicked off when Industrial Developments International Inc. revealed plans to add one build-to-suit and two speculative buildings in its Crossroads Distribution Center in Olive Branch – marking the area’s first spec construction since 2008.

4. Capital Influx -

Capital is finally being set free in the Memphis industrial market, with opportunities on both the buy and sale side of investment deals.

Nearly $200 million has been spent since June, as public and private institutional buyers alike make large plays.

5. Simon Says It Improved Offer For Rival -

INDIANAPOLIS (AP) – Mall owner Simon Property Group says it has improved its offer to help finance the bankruptcy exit of its biggest rival, General Growth Properties.

The Indianapolis company, which owns and operates Oak Court Mall and Wolfchase Galleria, will backstop a $1.5 billion credit facility General Growth needs to emerge from bankruptcy, waive a $12.5 million fee and limit its governance rights.

6. Morgan Keegan Responds to Federal, State Charges -

Morgan Keegan & Co. Inc. CEO John Carson has written a letter to investors replying to charges from federal and state regulators for his firm's alleged mishandling of six mutual funds that lost $2 billion.

7. Ex-NBA Player Gets $1.5M in RMK Fund Dispute - A retired professional basketball player has won what may be the largest award yet from a financial industry panel hearing claims involving a group of former Regions Morgan Keegan mutual funds.

Four-time NBA champion Horace Grant has won almost $1.5 million in an arbitration claim he filed over his losses in the RMK funds.

In his statement of claim, Grant said he suffered losses of almost $1.5 million in some of Morgan Keegan & Co. Inc.’s “highly speculative proprietary funds, which were not in (his) best interest.” A Morgan Keegan spokesman was not immediately available for comment.

Grant, who retired in 2004, played as a power forward for the Chicago Bulls in the 1990s alongside star players Michael Jordan and Scottie Pippen. He was playing for the Los Angeles Lakers when he retired.

Grant’s attorney, Chicago securities lawyer Andrew Stoltmann, said Grant had wanted a stable place to park his money so it would provide a steady income for his retirement years. His statement of claim says Grant was familiar with Regions Bank and “trusted the Morgan Keegan name.”

Memphis-based Morgan Keegan is a subsidiary of Alabama-based Regions Financial Corp.

Offense and defense

New York-based Hyperion Brookfield Asset Management last summer took over the troubled RMK funds, several of which lost the majority of their value in a staggering fall beginning in 2007.

“What (Grant) got was a derivative-laced, hedge-fund-like investment that lost 90 percent of its value,” Stoltmann said. “He’s a guy who retired from the NBA and wanted conservative, stable investments so he could live off of that money.”

A Financial Industry Regulatory Authority (FINRA) panel made the decision in Grant’s case. Generally, the FINRA panels don’t explain their decisions.

FINRA panels have announced several big dollar RMK-related awards this year, with some of them going to prominent investors.

Memphis native and baseball broadcaster Tim McCarver was awarded $100,000 in compensatory damages in February stemming from his RMK losses.?A former NFL player for the Kansas City Chiefs, Memphis native Jerome Woods, won $950,000 this year after filing an arbitration claim over his RMK losses.

Referring to a FINRA panel’s decision about Woods’ claim, Morgan Keegan spokeswoman Kathy Ridley said in April: “Overall results support our belief that there were no improprieties in the management of these funds. We plan to continue a vigorous defense of all claims.”

...

8. Beasley Allen Leader for Lending Suit -

When the bottom fell out of several Regions Morgan Keegan mutual funds in 2007, billions of dollars in value belonging to shocked investors quickly evaporated.

Law firms throughout the country began signing up investors to represent. One of those firms is Montgomery, Ala.-based Beasley, Allen, Crow, Methvin, Portis & Miles PC.

9. Former NFL Player Scores Largest RMK Settlement Yet -

A Memphis native and former professional football player has won the largest award yet from a financial industry panel hearing claims involving a group of former Regions Morgan Keegan mutual funds.

Jerome Woods, whose football career included a stint with the Kansas City Chiefs, has won $950,000 as a result of the arbitration claim he filed over losses in the RMK funds. Woods played ten seasons in the NFL with the Kansas City Chiefs, according to the team’s official Web site www.kcchiefs.com.

Woods’ Nashville attorney Naill Falls told The Daily News his client is pleased with the arbitrators’ ruling.

“Like most investors, the Woods were not interested in speculative risk, but Morgan Keegan recommended these highly risky funds indiscriminately, loading up their clients with these funds without disclosing their true risks,” Falls said.

Woods started his collegiate career at Northeast Mississippi Community College. He was drafted by the Chiefs in the 1996 NFL draft after two seasons with the University of Memphis Tigers.

The Financial Industry Regulatory Authority (FINRA) made the decision in the Woods case. Generally, the panel does not qualify its decisions.

Earlier this month, Morgan Keegan spokeswoman Kathy Ridley said about the results of the RMK arbitrations: “Overall results support our belief that there were no improprieties in the management of these funds. We plan to continue a vigorous defense of all claims.”

Memphis-based Morgan Keegan is a subsidiary of Alabama-based Regions Financial Corp. New York-based Hyperion Brookfield Asset Management took over the troubled RMK funds from Morgan Keegan last summer.

The firm, which also rebranded the funds under its Helios name, is not a party in any current claims or lawsuits by investors.

Losses in the funds have spawned a wave of securities litigation in addition to the arbitration claims. Among other recent arbitration awards, Memphis native and sports broadcaster Tim McCarver won $100,000 in compensatory damages in February as a result of the claim he filed over his own former RMK investments.

...

10. Former NFL Player Scores Largest RMK Settlement Yet -

A Memphis native and former professional football player has won the largest award yet from a financial industry panel hearing claims involving a group of former Regions Morgan Keegan mutual funds.

Jerome Woods, whose football career included a stint with the Kansas City Chiefs, has won $950,000 as a result of the arbitration claim he filed over losses in the RMK funds. Woods played ten seasons in the NFL with the Kansas City Chiefs, according to the team’s official Web site www.kcchiefs.com.

Woods’ Nashville attorney Naill Falls told The Daily News his client is pleased with the arbitrators’ ruling.

“Like most investors, the Woods were not interested in speculative risk, but Morgan Keegan recommended these highly risky funds indiscriminately, loading up their clients with these funds without disclosing their true risks,” Falls said.

Woods started his collegiate career at Northeast Mississippi Community College. He was drafted by the Chiefs in the 1996 NFL draft after two seasons with the University of Memphis Tigers.

The Financial Industry Regulatory Authority (FINRA) made the decision in the Woods case. Generally, the panel does not qualify its decisions.

Earlier this month, Morgan Keegan spokeswoman Kathy Ridley said about the results of the RMK arbitrations: “Overall results support our belief that there were no improprieties in the management of these funds. We plan to continue a vigorous defense of all claims.”

Memphis-based Morgan Keegan is a subsidiary of Alabama-based Regions Financial Corp. New York-based Hyperion Brookfield Asset Management took over the troubled RMK funds from Morgan Keegan last summer.

The firm, which also rebranded the funds under its Helios name, is not a party in any current claims or lawsuits by investors.

Losses in the funds have spawned a wave of securities litigation in addition to the arbitration claims. Among other recent arbitration awards, Memphis native and sports broadcaster Tim McCarver won $100,000 in compensatory damages in February as a result of the claim he filed over his own former RMK investments.

...

11. Claim Against Morgan Keegan Yields Largest Award Yet -

What’s believed to be the largest single award so far for investors in a group of former Regions Morgan Keegan mutual funds has been announced by a financial industry panel.

Steve and Gary Fitzgerald, two brothers from California, have won $267,711 plus interest. That amount is less than the more than $429,000 in compensatory damages they originally sought – but their Chicago attorney is still pleased with the outcome.

12. McCarver Awarded $100K in Morgan Keegan Claim -

Memphis native and sports broadcaster Tim McCarver has been awarded $100,000 in compensatory damages as a result of the arbitration claim he filed over losses from Morgan Keegan & Co. mutual fund investments.

13. Regions Short Term Bond Fund Liquidated by New Manager -

Hyperion Brookfield Asset Management, the firm that took over in July the management of seven Regions Morgan Keegan Mutual funds, has decided to liquidate one of the funds – the Regions Morgan Keegan Select Short Term Bond Fund.

14. McCarver Files Claim Against Morgan Keegan - Memphis native and sports broadcaster Tim McCarver is calling a foul against Memphis-based Morgan Keegan & Co. Inc.

McCarver, once a catcher for the St. Louis Cardinals and the namesake of the former Tim McCarver Stadium in Memphis, has filed an arbitration claim against Morgan Keegan, asking for more than $1.25 million in damages.

McCarver claims he lost money when his investments were placed in several Regions Morgan Keegan mutual funds that lost the majority of their value during 2007. The losses in those funds have spawned a wave of securities litigation and arbitration claims, and an array of regulators is looking into the causes of the funds’ meltdown.

Morgan Keegan did not respond for comment by press time.

New York-based Hyperion Brookfield Asset Management took over management of the funds from Morgan Keegan this summer.

“We obviously think he was terribly ripped off, or we wouldn’t have brought the case,” said McCarver’s attorney, Dale Ledbetter.

McCarver moved to Sarasota, Fla., in 2000, and sometime after that is when he sold his RMK holdings. That transaction, according to the arbitration McCarver filed with the Financial Industry Regulatory Authority, resulted in “substantial losses to McCarver.”

“McCarver as a native Memphian was comfortable with Morgan Keegan in part because the firm was headquartered in Memphis,” the claim reads. “McCarver met several Morgan Keegan employees and agreed to have Morgan Keegan handle the bulk of his investments.

“... After McCarver was divorced and as he got older, there was an even greater need for his investments to be conservatively oriented. This was not done.”

When asked about the McCarver case by the New York Post earlier this week, Morgan Keegan said four of eight arbitration cases related to the RMK funds have been dismissed.

...

15. Morgan Keegan Misrepresented Risks, Paper Says -

A former economist with the U.S. Securities and Exchange Commission believes the Memphis-based brokerage firm Morgan Keegan & Co. Inc. misrepresented the risks of investing in six bond funds that cost investors $2 billion last year.

16. RMK Funds Handoff Conceived Months Ago -

Over the past several months, federal lawsuits have mounted in West Tennessee on behalf of investors who suffered large losses in a group of beleaguered Regions Morgan Keegan mutual funds.

During that time, the U.S. Securities and Exchange Commission has requested information about the low-performing funds from Regions Financial Corp., the parent company of Memphis-based Morgan Keegan. And investors from around the country have peppered the Financial Industry Regulatory Authority with requests for arbitration related to the funds.

17. Lawsuits Active, Multiplying Against Morgan Keegan -

At 5 p.m. Feb. 18, an attorney-client meeting was called to order at the Poplar Avenue law offices of Apperson Crump & Maxwell PLC.

In attendance was a group of about 10 people. It included at least four lawyers, Regions Morgan Keegan mutual fund shareholders and representatives of other shareholders who were not present. The first item of business: mapping out the next few steps in a complex securities class action suit filed on behalf of those shareholders against the Memphis-based Morgan Keegan brokerage firm.