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Editorial Results (free)

1. Lynnfield Place Apartments Sell for $22.4 Million -

The Lynnfield Place apartment community in East Memphis has sold for $22.4 million.

Lynnfield Apartments LLC, an affiliate of Hyde Capital LLC, purchased the 400-unit community at 1400 Lynnfield Road, between Park Avenue and Quince Road in East Memphis, from Lynnfield Holdings LLC, according to a Nov. 7 special warranty deed. Hyde Capital LLC lists an address of 3094 Autumnwood Ave. in Memphis, the same address of the 324-unit Autumnwood Apartments, which is owned by an affiliate of Hyde Multifamily Investments LLC.

2. Reshaping a City, One Lot at a Time -

John G. Brittle Jr. doesn’t have an office. He has a war room. The space, crowded with maps, charts, books, piles of paper and marked-up spreadsheets, is ground zero for InfillNashville, the 10-person team of site selection specialists that Brittle leads at Village Real Estate Services.

3. Crosstown Wins 20-Year Tax Break -

The $180 million project to revitalize the Sears Crosstown building won a 20-year payment-in-lieu-of-taxes (PILOT) agreement Thursday, Oct. 10, from the Center City Revenue Finance Corp.

4. Grant Turns Broad Avenue Dock Into Dance Stage -

The concrete surface of the loading dock at Power & Tel on Broad Avenue isn’t good for ballet dancing.

So the dancers with Collage Dance Collective went with modern dance instead Wednesday, May 22, as the Broad Avenue Arts District formally announced a $350,000 grant from ArtPlace America that will turn part of the loading dock into a dance performance stage.

5. Bike Lane Boost -

A year ago, city roads crews were wrapping up the installation of dedicated bike lanes on the two-mile stretch of Madison Avenue between McNeil and Cooper streets – the culmination of an extensive debate that included those radically for or radically against the two-wheeled route that entailed a major road diet and on-street parking.

6. Former Mall Acreage to be Industrial Development -

Acreage on Former
Mall of Memphis Site

Sale Amount: $2.7 million

Sale Date: April 18, 2012

Buyer: Memphis Industrial Properties LLC

7. Cherokee Arms Undergoes Rehab -

It wasn’t long ago that the Cherokee Arms Apartments complex in Midtown was on the market with a note of “in need of repair.”

But thanks to Memphis native and current Los Angeles resident Dana Gabrion, the three-story complex will soon breathe new life to 1508 Madison Ave. Under the entity Gabrion Properties LLC, she acquired the 30-unit, Class C investment-grade multifamily building for $455,000 in fall 2010 and hopes to have it ready for occupancy come June.

8. Questions Raised About Plea Deals -

Shortly after Clarence Broady shot Latrell Small and Kalonji Griffin to death in a car at a Hickory Hill apartment complex in 2004, Demetrius Fields got a new tattoo.

9. Defense Critical of Plea Deal for Fields in Petties Case -

Shortly after Latrell Small and Kalonji Griffin were shot to death by Clarence Broady in a car at a Hickory Hill apartment complex in 2004, Demetrius Fields got a new tattoo.

10. Occupy Protests Cost Nation's Cities at Least $13M -

NEW YORK (AP) – During the first two months of the nationwide Occupy protests, the movement that is demanding more out of the wealthiest Americans cost local taxpayers at least $13 million in police overtime and other municipal services, according to a survey by The Associated Press.

11. ITT Goulds Signs Lease In Southaven -

A Seneca Falls, N.Y.-based industrial pumping system manufacturer has inked a deal for a distribution center across the parking lot from its current space in Southaven.

ITT Goulds signed a 68,508-square-foot lease in Industrial Development International Inc.’s Stateline Business Park Building C, at 8890 Commerce Drive.

12. 'Emerald' Apt. Complexes Face Foreclosure Sales -

Three apartment complexes that sold in March for $10 million are now facing foreclosure sales, according to first-run foreclosure notices in the Wednesday, June 22, Daily News. Bellevue, Wash.-based Emerald Apartment Group LLC in March bought Emerald Square Apartments at 6100 Knight Arnold Road Extended for $4.1 million, Emerald Pointe Apartments at 3338 Summer Place Lane for $2.6 million and Emerald Park Apartments at 3350 Hickory Hill Road for $3.3 million.

13. Lynnfield Place Apartments Sell for $22.4 Million -

1400 Lynnfield Road
Memphis, TN 38119
Sale Amount: $22.4 million

Sale Date: June 14, 2011
Buyer: Lynnfield Holdings LLC
Seller: Lynnfield Place Tennessee LLC
Details: Lynnfield Place Apartments, on the east side of Lynnfield Road about halfway between Park Avenue to the north and Quince Road to the south, has sold for $22.4 million.

14. Lynnfield Place Apartments Sells for $22.4 Million -

Lynnfield Place Apartments, on the east side of Lynnfield Road about halfway between Park Avenue to the north and Quince Road to the south, has sold for $22.4 million.

Lynnfield Holdings LLC, which shares a Philadelphia address with Resource Real Estate Inc., bought the complex from Los Angeles-based Lynnfield Place Tennessee LLC. The deal closed June 14. No mortgage document was filed at the time of purchase.

15. SRVS Files Construction Loan for New Headquarters -

3971 Knight Arnold Road
Memphis, TN 38118
Loan Amount: $3.3 million

Loan Date: March 22, 2011
Maturity Date: n/a
Borrower: Shelby Residential and Vocational Services Inc.
Lender: First Tennessee Bank NA

16. 3 Hickory Hill-Area Apts. Sell for $10 Million -

Bellevue, Wash.-based Emerald Apartment Group LLC has bought three apartment complexes in the Hickory Hill Road/Knight Arnold Road area for a total $10 million. They include Emerald Square Apartments at 6100 Knight Arnold Road Extension for $4.1 million, Emerald Pointe Apartments at 3338 Summer Place Lane for $2.6 million and Emerald Park Apartments at 3350 Hickory Hill Road for $3.3 million.

17. Popular Burger Chain Moves Into Memphis -

After years of Five Guys Burgers and Fries having a presence in the Nashville and Knoxville areas, the chain is setting up shop in one of Memphis’ most densely populated areas.

Jubilee Restaurant Group LLC, owner of the franchise, signed a 2,882-square-foot lease in Primacy Place, 1615 Ridgeway Road.

18. Shifting Gears -

Memphis has long been a real estate town.

Family names like Belz, Boyle, Clark, Fogelman, Loeb, Snowden and Wilkinson – to name a few – have become synonymous not only with local commercial and industrial development but also with the city’s business fortunes and cultural identity.

19. Real Estate Recycling -

If sustainability is defined as reuse of land and/or structures for new purposes, Hickory Hill may be the capital of the concept in Memphis.

Consider New Direction Christian Church, which found a home in a vacant big box store and now plans to transform a vacant and blighted apartment complex into a charter middle and high school with a performing arts center. The bulldozers began demolishing the Marina Cove apartments complex last month.

20. Marina Cove Demolition Starts New Direction in Hickory Hill -

The Marina Cove apartments in Hickory Hill now being demolished are one 24-acre piece of a real estate puzzle coming together in the bigger plans for what comes next.

As Memphis Mayor A C Wharton Jr. shifted a lever in a bulldozer that sent a scoop crashing into a stairway of one of the 54 buildings on the lot earlier this week, the community development corporation that now owns the complex had already closed on another adjacent plot of land.

21. After Trading Hands, Marina Cove Now Ready for Redevelopment -

5505 Winchester Road
Memphis, TN 38115
Sale Amount: $1.6 Million

Sale Date:July 15, 2010
Buyer:The Power Center Community Development Corp.
Seller:Water Gardens LLC (in dissolution), and Optimal Partners LLC and National Community Development Association Inc. (which constitutes all members of Water Gardens LLC since its dissolution)

22. Carlisle Corp. Continues Work on New Headquarters -

263 Wagner Place
Memphis, TN 38103
Loan Amount: $2.1 million

Loan Date: June 15, 2010
Maturity Date: June 15, 2014
Borrower: Carlisle Landing LLC
Lender: Regions Bank

23. Carlisle Corp. Files Building Permit For Downtown Corporate Headquarters -

263 Wagner Place
Memphis, TN 38103
Permit Amount: $1.5 Million

Project Cost: $2.7 million
Permit Date: Applied April 2010
Completion: TBA
Owner: Carlisle Corp.
Tenant: Carlisle Corp.
Contractor: N/A
Architect: N/A

24. Outlook Unsure -

Last week’s Commercial Property Forecast Summit painted a dour picture of the local real estate market, but the January numbers show that the commercial sector has a detectable pulse – at least for now.

25. Taking Off -

Aviators attain flight and control the movements of their aircraft by precisely balancing the forces of lift, thrust, drag and gravity. The people piloting the aerotropolis initiative – the promotion of Memphis’ economy focused on the airport, other transportation assets and the connectivity among them – are negotiating their own set of physics in hopes of becoming airborne.

26. Taking Off -

Aviators attain flight and control the movements of their aircraft by precisely balancing the forces of lift, thrust, drag and gravity. The people piloting the aerotropolis initiative – the promotion of Memphis’ economy focused on the airport, other transportation assets and the connectivity among them – are negotiating their own set of physics in hopes of becoming airborne.

27. Highland Hip -

The Highland strip is growing a skyline. The Stratum on Highland Street, a five-story apartment complex, was the first new structure west of the University of Memphis to sprout last August on the storied commercial strip itself.

28. There Goes the Neighborhood: New hope emerges in one of Memphis’ roughest areas -

Hope and despair have co-existed for a long time along the stretch of Poplar Avenue between Danny Thomas Boulevard and Decatur Street. And for the past two years, the area has seen more change than just about any other inner-city avenue in Memphis.

29. Trio of Apartments Sold to NY Investors -

A pair of New York-based investors has bought three apartment complexes with a history of financial troubles for a combined $4.3 million. Local entities related to buyers from Queens, N.Y., bought Graceland Manor, Winchester Oaks and McCorkle Apartments, all in Whitehaven, in separate trustees’ deeds dated May 21.

30. Loan Filed for Phase Two Of Centennial Gardens Apartments -

7751 Centennial Drive
Memphis, TN 38125
Loan Amount: $11.5 Million

Loan Date: Jan. 15, 2009
Maturity Date: Jan. 15, 2013
Borrower: Lightman Centennial Gardens Co.
Lender: SunTrust Bank

31. Park Place Takes Out Loan For Whitehaven-Area Complex -

Park Place Apartment Complex LLC has taken out a $1.3 million loan from Hypothecator Realty Corp. for its apartments at 4392 McCorkle Road. An assignment of rents and security agreement is included in the mortgage deed.

32. Luxury Apartments Under Way in Cordova -

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.

33. Boshwit Bros. Sues CityOver Notice to Vacate -      The development of the city's latest mixed-income residential development built on the foundation of an old public housing project has hit a nerve with a nearby property owner.
     The nearl

34. Proposed Apartment Development Draws Opposition from Neighbors -

Makowsky Ringel Greenberg LLC is planning to build a four-story apartment building with a maximum of 202 units and an accompanying parking garage along a tree-lined, residential stretch of Park Avenue.

35. Miami-Based Group Invests More in Memphis -

Geographically and culturally, South Beach is a long way from Beale Street, but that hasn't stopped a group of Miami investors from plunging into the Memphis multifamily market.

Miami-based Alterra Capital Group - whose principals are Matt Papunen, Adam Singer and Matthew Wanderer - recently bought a fourth apartment complex in Memphis, beefing up its local portfolio to $41 million.

36. Archived Article -

3737 Stage-James Road
Memphis, TN 38128
Sale Amount: $4.6 million

Sale Date: Feb. 15, 2007

Buyer: Heavon Co. LLC (50 percent interest), Eastern Management & Financial LLC (45 percent) and DA Realty Holdings LLC (5 percent)

37. Flea Market to Open Off Jackson Avenue -

A local businessman wants to cultivate a giant open-air market on land that once was the site of a dilapidated apartment complex in North Memphis.

Joseph Sy, a developer with various real estate interests across the country, bought 28.9 acres in 2005 on the northwest side of Jackson Avenue, near the Interstate 40 interchange. The Yorktown Apartments once stood there, greeting nearby residents with a host of problems ranging from gunshots to vagrants who loitered around the complex.

38. $1.4 Million Wrap-Around MortgageFiled for Apartment Complex -      Goodwill Village LLC, which is affiliated with Park Place Apartments LLC, has filed a $1.4 million wrap-around mortgage for a 120-unit apartment complex at 4392 McCorkle Road. The two-story brick structure was built in 1

39. Villas Development Expected to Inject Vitality Into South Memphis -

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.

40. Archived Article -

Parcels in four
shopping centers
Loan Amount: $11.4 million

Loan Date: May 25, 2006

Maturity Date: June 1, 2021

41. What's Cooking on the Highland Strip? -

A few months ago, Marty Roberts was scouting for possible sites for a small retail complex. He bought what he considered a promising piece of vacant land along Park Avenue, where he's planning to begin construction soon on a 4,400-square-foot strip center.

42. Mud Island Area Gets Traffic Help in a Roundabout Way -

Mud Island residents could be going in circles by early May, as Dixieland Contractors continues building the $750,000 Mud Island roundabout at the intersection of Auction Street and Island Drive.

A roundabout is a type of road junction in which traffic travels in a circle around a central point. Drivers entering a roundabout have to yield to traffic that's already within the loop. The Mud Island Roundabout will be 120 feet in diameter and have two lanes circling a landscaped, two-tiered center.

43. Archived Article: Lead - Minnesota-Based Firm Enters Market

Minnesota Firm Enters Memphis Market

Multifamily developer prepares to start project in Frayser


The Daily News

A Minnesota company with experience in developing affordable housing and ass...

44. Archived Article: Knob Hill (lead) - Apt

Apartments to Offer Affordable Option

Nonprofit group adds homes in inner-city neighborhood


The Daily News

A new apartment complex a project that contributes to ongoing efforts to increase Metro Memphis supply of affor...

45. Archived Article: Vet (lead) - Veterans housing going up in Midtown

Veteran Housing Planned for Midtown

Complex to include 32 permanent housing units


The Daily News

Some are prosperous, self-supported business owners who relapse into post-war trauma; ot...

46. Archived Article: Hehf (lead) - Board considers Court property refinancing

Board considers Court property refinancing


The Daily News

On its face, Wednesdays consideration by the Memphis Health, Educational and Housing Facility board of a refinancing res...

47. Archived Article: Ccdc (lead) - S

Uptown projects gain fee rebate


The Daily News

The Center City Development Corp. Wednesday approved a fee rebate to two Uptown Memphis projects, which gained tax freezes last week.

The renovation of the Lauderdale Court...

48. Archived Article: Real Focus - By JENNIFER MURLEY Savvy tenants find deals in competitive multifamily market By JENNIFER MURLEY The Daily News Although Memphis first quarter multifamily housing market closed on a strong note with increasing occupancy and stable rental rates, subu...

49. Archived Article: Real Review Lj - Jitney Jungle closes doors Jitney Jungle closes doors in Little Rock, Memphis markets Jitney Jungle Stores of America Inc. on Monday announced the sale of six stores and the closure of three grocery stores and two companion gas stations in the Memph...

50. Archived Article: Real Review Lj - Real Review 12-14-99 Weather delays ceremony, Desoto County Center on schedule A "topping off" ceremony for the DeSoto County Civic Center will be held at the Southaven site today. The final section of the main ceiling truss will be lowere...

51. Archived Article: Gov't (apts) - Apartment complex plan Apartment complex plan meets with opposition By KATHLEEN BURT The Daily News A proposed apartment complex on Highland Avenue adjacent to the Junior League of Memphis Inc. is meeting with opposition on many fronts. The proposal...

52. Archived Article: Gov't (mcc) - Two projects seed Two projects seed potential office parks By KATHLEEN BURT The Daily News Two projects comprising more than 300 acres of potential office park that are prime for corporate headquarters will be the subject of public hearings and Memp...

53. Archived Article: New Chicago St - By SUZANNE THOMPSON Construction begins on New Chicago apartment complex By SUZANNE THOMPSON The Daily News Four years ago, when Bishop W.L. Porter told Jay Hollingsworth, a partner in Capital Development Co., the plans he had for property his churc...

54. Archived Article: Quail Hlw Office Lj - lj 10/5 cates Construction begins on office condos in Southeast Memphis By LAURIE JOHNSON The Daily News Construction started Wednesday on a third building in the Quail Hollow Office Planned Development, an office condominium complex designed for sm...

55. Archived Article: Idi (century Cntr) Lj - lj 10/5 cates Century Center property changes hands By LAURIE JOHNSON The Daily News Industrial Developments International closed a deal last week for $13.2 million, selling all four of the buildings it had developed and leased out in the Century Ce...

56. Archived Article: Res. Update Lj - lj 10/5 cates Downtown housing market strong, diverse By LAURIE JOHNSON The Daily News Downtown residential development has been strong throughout 1996, with almost 1,000 apartment, condominium and single-family units approved for development or com...

57. Archived Article: Mid-america 2nd Lj - lj 10/5 cates Ready to rent Sales, acquisitions, expansions contribute to MAAs performance By LAURIE JOHNSON The Daily News Mid-America Apartment Communities has marked another period of high performance, posting second quarter gains in revenues, oc...

58. Archived Article: Appling Way Shop Lj - lj 10/5 cates Two commercial projects to begin soon in Wolfchase area By LAURIE JOHNSON The Daily News As construction on the Wolfchase Galleria Mall continues in high gear through the summer building season, commercial development also progresses a...

59. Archived Article: Real Review Lj - lj 10/5 cates Real Review Transactions. Farnsworth Industrial Properties III LLC, a Tennessee limited liability company, composed of Thomas C. Farnsworth Jr. and Thomas C. Farnsworth III, borrowed $2.7 million from Deposit Guaranty National Bank, se...