Editorial Results (free)
1. Bright Spot
- Friday, December 20, 2013
The Memphis multifamily market turned in a strong performance during 2013, with enhanced investor interest and new units under construction.
Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division, classified the multifamily market in 2013 as healthy and continuing to improve.
2. Apartment, Retail Markets Holding Steady
- Friday, November 01, 2013
The Memphis area multifamily and retail markets continue to chug along, with the newer, more upscale products in each sector propping up both overall markets.
Those trends and others in commercial real estate will be the subject of discussion Thursday, Nov. 7, during the 2013 Commercial Real Estate Review & Forecast, one of six seminars in The Daily News’ 2013 Seminar Series.
3. Villas at Cordova Apartments Owner Files $17.9 Million Loan
- Tuesday, June 18, 2013
The owner of the 256-unit Villas at Cordova apartment complex at 8341 Macon Road has filed a $17.9 million loan on the property.
4. Panther Properties Buys Two Cordova Apartments
- Tuesday, April 02, 2013
2350 N. Houston Levee Road and 2323 N. Houston Levee Road
5. Panther Properties Buys Two Cordova Apartments
- Monday, April 01, 2013
Woburn, Mass.-based Panther Properties Investment LLC has bought a pair of Cordova apartment complexes – the Villas at Grays Creek and the Carrington at Houston Levee – for a combined $44.8 million.
6. Former Mall Acreage to be Industrial Development
- Tuesday, April 24, 2012
Acreage on Former
Mall of Memphis Site
Sale Amount: $2.7 million
Sale Date: April 18, 2012
Buyer: Memphis Industrial Properties LLC
7. Villas at Cordova Sells for $19.3M
- Friday, April 20, 2012
Los Angeles-based investment fund QVT Mount Auburn Capital LP, working under the name Memphis Villas LLC, has bought The Villas at Cordova apartments for $19.3 million – $5 million more than the complex sold for in foreclosure last year.
8. Pleasant View Apts. Sells in Foreclosure
- Monday, January 23, 2012
Memphis-based WI Memphis LLC has bought the 259-unit Pleasant View apartment complex in Frayser for $1.7 million at a trustee’s foreclosure sale. The seller was Mark Turner, trustee, on behalf of The Maclellan Foundation Inc.
9. Lofty Heights
- Tuesday, January 10, 2012
The Mid-South apartment market is riding high after a strong 2011.
Last year saw increasing occupancies and rents, as well as a shift from investors and lenders back to more stable properties, all of which followed a 2010 that was dominated by activity involving distressed product.
10. ‘Get In and Out’
- Monday, December 19, 2011
In a local commercial real estate market where prices have plunged as much as 40 percent from 2007 peaks, special service companies are taking advantage of opportunities for buying distressed debt.
11. LNR Buys Warehouse at 3615 Lamar
- Tuesday, December 13, 2011
FUCMS 2001-C2 Lamar Industrial LLC, an entity affiliated with Miami-based loan servicer LNR Partners LLC, has bought a warehouse at 3615 Lamar Ave. at a foreclosure auction for $1.6 million after borrower 3615 Lamar Partners LLC defaulted on a $3.7 million loan backed by the property. The limited liability company took out that loan through First Union National Bank in February 2001.
12. LNR Buys Germantown Apartments for $17.1M
- Tuesday, December 13, 2011
7491 Wyndhurst Place or
7455 Wolf River Blvd.
Germantown, TN 38138
13. LNR Partners Buys Germantown Apts.
- Wednesday, December 07, 2011
DMARC 2006-CD2 Wyndhurst Place LLC, an entity affiliated with Miami-based LNR Partners LLC, has bought Oakwood temporary housing apartment complex at 7455 Wolf River Blvd. in Germantown at a foreclosure sale for $17.1 million.
14. Cross Creek Shopping Ctr. Sells for $12.7 Million
- Tuesday, November 22, 2011
3469 Riverdale Road, 3505 Riverdale Road and 3587 Riverdale Road
Memphis, TN 38115
Sale Amount: $12.7 million
15. Cross Creek Shopping Center Sells for $12.7 Million
- Thursday, November 17, 2011
Commack, N.Y.-based Allied Development of Memphis LLC has bought Cross Creek Shopping Center for $12.7 million.
16. Waterford Place Apartments Sells in Foreclosure for $18.2M
- Thursday, August 11, 2011
Waterford Place Apartments at 8037 Waterford Circle in Southeast Shelby County’s 38125 ZIP code has sold for $18.2 million in a substitute trustee’s sale following a foreclosure. The complex sold May 11 but wasn’t recorded by the Shelby County Register of Deeds until this week.
17. Villas at Cordova Complex Sells for $14.2M in Foreclosure
- Tuesday, July 26, 2011
8546 Prestine Loop
Cordova, TN 38018
Sale Amount: $14.2 million
Sale Date: May 11, 2011
18. Villas at Cordova Sells for $14.2M
- Thursday, July 21, 2011
The Villas at Cordova apartment complex at 8546 Prestine Loop in Cordova has sold in a substitute trustee’s deed following a foreclosure for $14.2 million.
19. MSO Concert Explores Italy
- Monday, January 10, 2011
TThe Memphis Symphony Orchestra continues its “Season of Discovery” by starting a cold new year with a foray into the land of terraced vineyards and sunlit villas.
“Italian Inspirations,” the latest installment of the First Tennessee Saturday Masterworks Series, promises a musical tour of the landscapes, waterways and villages that inspired master composers from Italy and beyond.
20. Preserve at Southwind Sells for $19.9 Million
- Wednesday, July 28, 2010
The Preserve at Southwind was sold back to the lender Tuesday afternoon on the Shelby County Courthouse steps for $19.9 million.
After two planned foreclosure sales of the 306-unit apartment complex had been adjourned, Wells Fargo Bank NA – operating in the transaction as 7991 Capilano Drive Holdings LLC – reclaimed the property with no other bidders showing up for the auction.
21. Preserve Auction Adjourned to May 28
- Friday, April 30, 2010
Friday’s scheduled auction of the Preserve at Southwind Apartments near Hacks Cross and Tenn. 385 in Southeast Shelby County has been adjourned to May 28 at noon.
The 306-unit complex will be auctioned to the highest bidder on the Shelby County Courthouse steps in a substitute trustee’s sale due to a foreclosure.
22. Chattanooga Investors Buy Third Memphis Property
- Wednesday, April 21, 2010
An out-of-town investment company has bought its third Memphis apartment complex in less than a year, bringing its total to 590 units.
Chattanooga-based UIGTN II LLC, a trio of partners whose name derives from the title of its management arm, Urban Investments Group LLC, paid close to $1 million on April 15 for the 172-unit Woodbriar Apartments at 4505 Wooddale Ave. in Oakhaven.
23. Tricky Market
- Tuesday, April 13, 2010
Because loan defaults are a common occurrence in this difficult financial climate, last week’s news that the 306-unit Preserve at Southwind Apartments had been foreclosed could easily be chalked up to a case of “another one bites the dust.”
24. Southwind Apartment Complex Foreclosed
- Friday, April 09, 2010
The 306-unit Preserve at Southwind Apartments near Hacks Cross Road and Tenn. 385 in Southeast Shelby County has been foreclosed and will be sold on the Shelby County Courthouse steps, according to a notice on Page 37 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.
25. Financing in Place For Towne Center at Soulsville
- Tuesday, May 20, 2008
915 E. McLemore Ave.
Memphis, TN 38106
Loan Amounts: $5.8 million; $1.5 million; $1.5 million
Loan Dates: May 5, 2008
Maturity Dates: N/A
Borrower: New Towne Center Inc.
26. Brinkley Heights Ministries To Expand Academy
- Tuesday, April 08, 2008
3277 Macon Road
Memphis, TN 38122
Permit Cost: $2.4 million
Project Cost: $2.4 million
Permit Date: Applied March 2008
27. LeMoyne-Owen CDC To Build Center, Subdivision
- Tuesday, April 01, 2008
LeMoyne-Owen College Community Development Corp. (LOC-CDC) has applied for a $501,000 building permit for a lifestyle center and subdivision at 915 E. McLemore Ave.
The lifestyle center
28. Luxury Apartments Under Way in Cordova
- Monday, March 31, 2008
A new multifamily product in Cordova is under way on the west side of Houston Levee Road near Pisgah Road. Stockbridge, Ga.-based Davis Development Inc. has filed a $16.2 million construction loan for Carrington Park, a 226-unit luxury apartment complex, according to The Daily News Online, www.memphisdailynews.com.
29. Group Banks on Oakland With Condo Development
- Friday, March 21, 2008
Four businessmen have pooled their talents and resources into a $38 million condominium development in Oakland, one of the fastest-growing communities in the Mid-South.
SWAN Development Group LLC - whose name comes from the initials of principals Steve Ehrhart, Bill McWaters (borrowing the "W" from McWaters), Arnie Birmingham and Nick Jebbia - has launched Phase I of the Villas at Fair Oaks (www.thevillasatfairoaks.com).
30. Gintz Group Buys Third Midtown Multifamily Property
- Tuesday, July 17, 2007
1422 Lamar Ave.
Memphis, TN 38104
Sale Amount: $2.1 million
Sale Date: June 29, 2007
Buyer: 1422 Lamar Ave. LLC
31. MHA Cranks Up Redevelopment Efforts Citywide
- Tuesday, April 03, 2007
The Chicago neighborhood of Marty Boscaccy's youth was a vibrant place, where commercial and residential developments were interwoven.
"You'd go to a busy street and you'd have Rocky's drugstore on the corner, but there would be flats above it where people lived," he said. "They call that 'New Urbanism,' but it's actually the way cities all over the country were developed."
32. Ford Senior Villas Replaces Ford Road Housing Development
- Tuesday, March 27, 2007
Construction loans for
Ford Senior Villas
Loan Amounts: $1.5 million; $4.5 million
Loan Date: March 15, 2007
33. Villas Development Expected to Inject Vitality Into South Memphis
- Tuesday, October 24, 2006
Memphis' 6th District is undeniably Ford territory.
Along four-lane New Horn Lake Road between West Mitchell and Brooks roads, nearly every other house boasts a Harold Ford Jr. for U.S. Senate sign in the front yard, as cars with Ford stickers placed prominently on their rear windows zoom past.
34. More Apartment Communities Go to Outsiders
- Monday, February 20, 2006
If you're an investor looking to spend some cash in the multifamily market, chances are the grass looks greener on the other side of the fence - maybe several states away.
That's been proven recently in Memphis, where several apartment properties have been snapped up quietly by out-of-town investment companies.
35. Archived Article: Lead
- Monday, March 14, 2005
New Jersey Company Invests in Memphis Multifamily
Empire Group Grows Memphis Portfolio
New Jersey company buys two more multifamily properties
The Daily News
Just months after investing more than $45 million in two Memphis...
36. Archived Article: Daily Digest
- Thursday, May 01, 2003
Regions Financial Corp. announced record earnings for the quarter ended March 31. Net income totaled $158.6 million, or 71 cents per diluted share, for first quarter 2003, an 8 percent increase pe...
37. Archived Article: Real Review
- Tuesday, March 18, 2003
NAR study takes aim
NAR study takes aim
at changing industry
Consolidation, business styles of brokers and agents, rising technology costs and regulatory impact are the most likely changes that will drive the real estate industry in the nex...
38. Archived Article: Daily Digest
- Wednesday, March 12, 2003
Court allows Bellevue Inn
Court allows Bellevue Inn
to reopen under strict rules
General Sessions Criminal Court Judge Larry Potter signed a consent order Monday in which Pravien Patel, owner of the Bellevue Inn, 1250 S. Bellevue Blvd., adm...
39. Archived Article: Davis Apts (lead)
- Thursday, December 05, 2002
By STACEY WIEDOWER
Apartments expand Georgia firms Memphis presence
By STACEY WIEDOWER
The Daily News
Framing has begun on a $19.5 million, 256-unit multi-family residential complex at Macon and Cully roads in Cordova. The upscale apartm...
40. Archived Article: Real Focus
- Tuesday, October 08, 2002
The Lakes at Bonne Terre ready for development
Scenic Bonne Terre readies for new development
By SUE PEASE
The Daily News
A new development in Nesbit, Miss., is poised to offer homeowners the same type of French country and Southern clas...
41. Archived Article: Real Focus
- Tuesday, July 02, 2002
Olive Branch, Miss., home-building on solid footing
By DAVID LYONS
The Daily News
Theyve widened most of the main thoroughfares to six lanes and hung traffic lights every mile or so. Traffic starts backing up in both directi...
42. Archived Article: Real Review
- Tuesday, May 28, 2002
Florida property chooses Florida property chooses ResortQuest for management ResortQuest International, the worlds largest vacation rental property management company, was selected for another major property management assignment along Floridas Emer...
43. Archived Article: Real Focus (16 Days)
- Tuesday, June 06, 2000
By LAURIE JOHNSON Builder launches project with 16-day house By LAURIE JOHNSON The Daily News When a builder starts construction in a new subdivision, it is important to get that first model home up quickly to attract potential buyers. When Southave...
44. Archived Article: Real Fcs (waverly) Lj
- Tuesday, July 21, 1998
By LAURIE JOHNSON A view of the green Pickering Inc. teams up with Old Waverly Golf Course in West Point, Miss., to develop $3 million residential project By LAURIE JOHNSON The Daily News When cameras pan the crowd at the 1999 U.S. Womens Open golf ...
45. Archived Article: Back 2
- Monday, March 30, 1998
Perkins Family Restaurants kicks off Perkins Family Restaurants kicks off `Round-Up For Kids' campaign When employees of Memphis-based Perkins Family Restaurants across America and Canada pledged to build a giant cupcake addition to an enormous ging...