Editorial Results (free)
1. Levenger Leases Up EastPark IV
- Friday, December 14, 2012
A Delray Beach, Fla.-based specialty retail company is relocating its Memphis distribution warehouse within the Southeast submarket.
Levenger has inked 96,400 square feet in EastPark Distribution Center IV, 5265 Hickory Hill Road, bringing the 372,800-square-foot building to full occupancy. Levenger also has an operation at 3530 E. Raines Road.
2. Rheumatology Clinic Buys Germantown Office Building
- Tuesday, November 27, 2012
7660 Poplar Pike Germantown, TN 38138
Sale Amount: $986,850
Sale Date: Nov. 14, 2012
3. California Investor Buys Apartments for $25.5 Million
- Wednesday, November 21, 2012
Torrance, Calif.-based Arenda Capital Management LLC has bought its second Memphis-area multifamily property this year, paying $25.5 million for the Grove at Trinity Pointe apartments at 555 Wood Arbor Parkway in Cordova.
4. Fla. Company Buys Cordova Retail Center
- Friday, June 08, 2012
Coral Springs, Fla.-based Swiss Capital Group LLC has acquired The Shops of Woodland Hills in Cordova for $3.1 million.
5. CBRE Closes On Two Distressed Apt. Complexes
- Friday, October 07, 2011
CB Richard Ellis Memphis has recently closed two distressed multifamily properties in the West Winchester apartment submarket.
Tommy Bronson III and Blake Pera with CBRE’s multifamily division represented MPI Coventry Village LLC in the $1.25 million sale of Highland Creek Apartments, 1305 Turkey Run Lane, to Highland Creek Acquisitions LLC.
6. Blues City Brewery Buys Hardy Bottling
- Tuesday, May 17, 2011
5151 E. Raines Road
Memphis, TN 38118
Sale Amount: $10 million
Sale Date: May 2, 2011
Buyer: Blues City Brewery LLC
Seller: Chism Hardy Enterprises LLC
7. Faronia Square Townhouses Financed for $4.4 Million
- Wednesday, May 11, 2011
Memphis Partners LP has financed Faronia Square Townhouses at 1350 S. Faronia Square through CBRE Multifamily Capital Inc. for $4.4 million.
8. Hickory Hill Apartments Sell for $10M
- Friday, March 25, 2011
Three apartment communities in the Hickory Hill Road/Knight Arnold Road area have sold for a combined price of $10 million.
Tommy Bronson III and Blake Pera with CB Richard Ellis Memphis’ multifamily division represented Hallmark Capital in the sale to Bellevue, Wash.-based Emerald Apartment Group. Wilson Management Inc., the managing entity behind Emerald Apartment Group, will retain and manage the properties.
9. Apartment Optimism
- Thursday, December 30, 2010
Apartment owners and operators in the Memphis market forecast a bright 2011, boosted by a continued weak homebuying landscape and a lack of new multifamily product coming online within the market.
“2010 was certainly an improvement for the multifamily sector – both in operations and in sales – over 2009, and we expect to see more of the same next year,” said Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division. “Most operators experienced comfortable revenue growth throughout the year, and there is some positive momentum in continued stable occupancy and concession burn-off next year with the lack of new supply hitting the market.”
10. Arbors Of River Oaks Sells for $16.3 Million
- Wednesday, June 16, 2010
An out-of-town company has pulled the trigger on the largest multifamily deal of 2010 with the $16.3 million purchase of the Arbors of River Oaks.
Trade Street Capital LLC of Miami bought the 191-unit Class B complex at 6369 Humphreys Blvd. in River Oaks from The Shoptaw Group of Atlanta.
11. New York Company Buys Gardenwood Apartments
- Tuesday, June 01, 2010
4975 Hoover Drive
Memphis, TN 38128
Sale Amount: $2.9 Million
Sale Date: May 17, 2010
Buyer: Gardenwood Apartments LLC
Seller: Bank of America NA
Loan Amount: $2.2 million
Loan Date: May 17, 2010
Maturity Date: N/A
Lender: Bloomfield Capital Partners Fund III LLC
12. Memphis College of Art Buys South Main Building
- Tuesday, February 23, 2010
477 S. Main St.
Memphis, TN 38103
Sale Amount: $400,000
Sale Date: Feb. 12, 2010
Buyer: Memphis College of Art
Seller: Southeastern LSC Holding Corp., formally known as Lewis Supply Co. Inc.
Loan Amount: $1.5 million
Loan Date: Feb. 15, 2010
Maturity Date: March 1, 2013
Lender: J.R. Hyde III Family Foundation
13. Sale Could Bring Improvements To Bella Vista
- Friday, January 15, 2010
Like many projects companies launched before the recession hit, the plan for rejuvenating the 432-unit Bella Vista Apartment Homes in Hickory Hill began with such promise.
In March 2007, a newly formed company, Maple Creek Advisors LLC of Dallas, made its first multifamily acquisition with plans to invest $4 million of renovations in the property.
14. Multifamily Survives Q4, Year
- Thursday, January 14, 2010
The fourth quarter of 2009 proved to be a decent period for the local multifamily industry during an otherwise lackluster year. Though some market trends remained relatively unchanged from third quarter, the apartment sector enjoyed a rush of investment sales as more investors pulled the trigger on deals.
15. New Owner Hopes to Improve Apartment Complex
- Tuesday, October 06, 2009
Philadelphia-based Resource Real Estate Inc. has pulled the trigger on Shelby County’s third-largest commercial real estate deal of the year, paying $9.5 million for the Wyndridge Apartments in a special warranty deed.
16. Hickory Pointe Sells For $5.8M to Utah Investor
- Friday, January 09, 2009
The Hickory Pointe Apartments at 2775 Hickory Pointe Lane in Hickory Hill has sold for $5.8 million in a substitute trustee’s sale to Hickory Pointe Apartments Utah LLC, an affiliate of Salt Lake City-based Capital Growth Corp.
17. Multifamily Sector Healthy in Q2
- Tuesday, September 16, 2008
No matter how tough the economy gets, people still need a place to live, and one of the few sectors to weather this latest downturn has been multifamily.
Apartment business registered a solid second quarter (April through June) this year with steady occupancy plus upward trends in the categories of rents, construction and absorption, according to the latest multifamily report by CB Richard Ellis Memphis’ multifamily division.
18. Commercial Real Estate Tumbles
- Friday, August 22, 2008
After a prolonged and prosperous ride, commercial real estate stumbled in the past year with no signs of regaining its balance anytime soon.
Just 998 commercial sales were made in Shelby County from August 2007 through July 2008, down 17.6 percent from 1,211 sales during the previous 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.
19. United Liquors Corp. Sells Parkway Village Warehouse
- Tuesday, July 08, 2008
4009 Air Park Cove
Memphis, TN 38118
Sale Amount: $1.5 Million
Sale Date: June 30, 2008
Buyer: TCD Co.
Seller: United Liquors Corp.
Loan Amount: $11.2 million
Loan Date: June 30, 2008
Maturity Date: June 10, 2013
Lender: Columbus Bank and Trust Co.
20. Colonial Grand Transaction Gives Boost To Local Commercial Market
- Wednesday, July 02, 2008
The commercial real estate market received a much-needed boost last week when Louisville, Ky.-based NTS Realty Holdings LP followed through on its plans to buy the Colonial Grand at Shelby Farms apartment complex for $41 million.
21. May Commercial Sales Drop 75 Percent
- Monday, June 23, 2008
Take away the $16 million multifamily portfolio sold in a complicated deal that kept the properties out of bankruptcy and Shelby County’s commercial real estate activity in May was a picture of paltriness.
22. Pedcor Files Construction Loan For Ashland Lakes Phase II
- Tuesday, May 27, 2008
Address: 7660 State Line Road
Memphis, TN 38125
Sale Amount: $1.3 Million
Sale Date: May 13, 2008
Buyer: Pedcor Investments-2007-CVIII LP
Seller: Pedcor Investments
23. NY Group Buys Multifamily Portfolio for $16 Million
- Monday, May 19, 2008
The Autumnwood and Stonegate apartment complexes at 3094 Autumnwood Ave. in Southeast Memphis and 4500 Stonegate Dr. in Raleigh sold May 13 for a combined $16 million to New York-based White Eagle Properties.
24. No Gloom Here
- Friday, March 07, 2008
Memphis' multifamily industry enjoyed one of the most dynamic years in recent memory, as 2007 saw increased occupancy, rental rates and even construction, according to the fourth quarter and 2007 "Memphis Multi-Housing Marketview" report by the local office of CB Richard Ellis (CBRE).
25. Memphis Multifamily Shines in 2007
- Tuesday, November 20, 2007
This year is almost in the books, but no matter what happens in the next six weeks, 2007 will go down as one of the most intriguing in recent memory for the multifamily industry.
For starters, Fogelman Realty Group LLC fetched a Memphis multifamily record $46 million in October when it sold the Class B, 1,002-unit Watergrove Townhomes to Philadelphia-based BPG Properties Ltd.
26. Watergrove Transaction Sets Multifamily Price Record
- Tuesday, October 23, 2007
With 22 acres of lakes dotted across its sprawling footprint near Tenn. 385, Watergrove Townhomes has been one of the more recognizable properties in the Hickory Hill area for the past 20 years.
Thanks to the arrival of Philadelphia-based BPG Properties Ltd., the 1,002-unit Class B complex can now add another distinction to its resume - most lucrative.
27. Archived Article
- Tuesday, February 27, 2007
Airport Business Park
North of Democrat Road
Sale Amount: $13.8 million
Sale Date: Feb. 21, 2007
28. Airport Business ParkSells for Nearly $14 Million
- Monday, February 26, 2007
A real estate investment firm based in Charlotte, N.C., has entered the Memphis market with the purchase of Airport Business Park.
Allegiance Realty Corp., under the names Airport Busin