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Editorial Results (free)

1. Hotel REIT Transfers 3 Germantown Properties -

7750 Wolf River Parkway Germantown, TN 38138
9314 Poplar Pike Germantown, TN 38138
9320 Poplar Pike Germantown, TN 38138

2. Hotel REIT Transfers 3 Germantown Properties -

Austin, Texas-based hotel real estate investment trust Summit Hotel Properties Inc. has transferred three Germantown hotels to related affiliates for a combined $5.7 million.

3. Lenox Park Courtyard Sells for $4.2 Million -

The Lenox Park Courtyard by Marriott at 3076 Kirby Parkway in East Memphis has sold for $4.2 million.

4. Memphis Hotel & Lodging Association Elects 2013 Officers -

The Metropolitan Memphis Hotel & Lodging Association recently elected its slate of officers to serve in 2013, and the group now ramps up for a busy year, including the 14th annual MMHLA Lodging Industry Update on Feb. 22 at the Hilton Memphis.

5. Summit Touts Return of Demand -

“Demand is back” was the theme at the ninth annual Southern Lodging Summit held Downtown this week at The Peabody hotel and the Memphis Cook Convention Center.

Hoteliers and industry execs gathered for the 2011 Summit, which was organized by the Metropolitan Memphis Hotel & Lodging Association and hotel consulting firm Pinkowski & Co.

6. Dotzour Outlines CRE Future at MAAR Summit -

For this year’s version of the commercial real estate industry to differ from 2010, the economy needs one thing – jobs.

That was the message Mark Dotzour, chief economist and director of research for the Real Estate Center at Texas A&M University, told a room full of local brokers, bankers and appraisers at Wednesday’s Commercial Property Forecast Summit, held at the Germantown Performing Arts Centre and sponsored by the Memphis Area Association of Realtors Commercial Council.

7. Courtyard Hotel Construction Picks Up for ’09 Opening -

The area surrounding North Main Street and Jefferson Avenue just got busier as construction finally started on the eight-story, 131-room Courtyard by Marriott hotel at the intersection’s southwest corner, on the edge of historic Court Square.

8. Peeples Promoted to Administrator At Methodist Alliance Health Services -

Trip Peeples has been promoted to administrator for Methodist Alliance Health Services' Home Medical Equipment and Infusion division.

Peeples has been with Methodist Le Bonheur Healthcare for seven years, most recently serving as corporate director of finance and reimbursement and interim chief financial officer for Methodist Extended Care Hospital.

9. Permit Filed to Build Downtown Courtyard By Marriott -

75 Jefferson Ave.

Memphis, TN 38103

Permit Amount: $11.8 million

Project Cost: $21 million

10. Downtown Doc Buys Former Bank on Madison -

72 Madison Ave.
Memphis, TN 38103
Sale Amount: $550,000

Sale Date: Dec. 5, 2007

Buyer: Daedalus Innovations LLC

11. Archived Article -

5760 Silver Creek Drive
Memphis, TN 38134
Sale Amount: $6.2 million

Sale Date: July 26, 2006

Buyer: PCCP JSP Silver Creek Apartments LLC

12. Courtyard by Marriott Slated for $12 Million in Upgrades -

3076 Kirby Parkway
Memphis, TN 38115
Cost: $12 million

Borrower: Summit Hotel Properties LLC

13. Summit Hotel FinancesCourtyard by Marriott - Summit Hotel Properties LLC has financed Courtyard by Marriott-Lenox Park through ING Life Insurance and Annuity Co. for $12 million. The 96-unit hotel, built in 1998, is on 2.57 acres at 3076 Kirby Parkway in Lenox Corporate Park. Summit purchased t

14. Community Groups Host Small Business Credit Discussion -

Nov. 8

The American Society for Quality, Greater Memphis Association for Quality and Tennessee Association for Healthcare Quality Region 1 present the Mid-South Regional Quality Conference from 7:30 a.m. to 3:40 p.m. at the Memphis Marriott East, 2625 Thousand Oaks Blvd. Call 545-3080.

15. Archived Article -

3865 Kirby Parkway
Memphis, TN 38115
Cost: $6.5 million

Buyer: SATCA Ltd.
Seller: Wells Fargo Bank NA
Property: Property at 3865 Kirby Parkway near Deer Forest Drive.

16. Archived Article -

9314 Poplar Pike
Germantown, TN 38138
Cost: $5 million

Buyer: Summit Hotel Properties LLC
Seller: ER Johnson Road Hotel Investors LLC
Property: Residence Inn by Marriott at 9314 Poplar Pike.

17. Summit Group Closes on Three Local Hotels -

9314 Poplar Pike
Germantown, TN 38138
Cost: $6.4 million

Borrower: Summit Hotel Properties LLC
Lender: First National Bank of Omaha
Trustee: Midsouth Title Corp.
Property: Residence Inn by Marriott at 9314 Poplar Pike. The property is one of three recently purchased by Summit Hotel Properties, an affiliate of The Summit Group Inc. The other properties purchased were Courtyard by Marriott, 3076 Kirby Parkway, and Fairfield Inn by Marriott, 9320 Poplar Ave.
According to Chris Bills, chief operating officer for Summit Group Inc., the 80-room Fairfield Inn and 78-room Residence Inn are located next door to each other in Germantown.
"We do plan a very comprehensive renovation at the Residence Inn, which would include beds, soft goods, bathroom upgrades and lobby and exercise room upgrades," Bills said. "And then the Fairfield Inn we plan to convert to a Fairfield Inn & Suites, and we will have approximately 15 suites with a separate sitting room and entertainment wall."
South Dakota-based Summit Group owns 60 hotels in 21 states. In February, Summit purchased the Courtyard by Marriott at 7750 Wolf River Parkway in Germantown.
"We feel that the Germantown area has become even more upscale in the last five years, so we're going to renovate the (Germantown) properties to have more of an upscale feeling to them," Bills said.

18. Archived Article: Daily Digest - Bartlett Property

Bartlett Property

Sells for $2.8 Million

Comprehensive Computer Services Inc. has purchased 20 acres containing a 232,375-square-foot concrete tilt-up manufacturing & processing plant at 2950 Brother Blvd. in Bartlett ...

19. Archived Article: Daily Digest - Jabil Memphis Plans

Summit Hotel Properties

Buys Two Memphis Hotels

Summit Hotel Properties LLC has purchased a Residence Inn at 9314 Poplar Pike for $5 million and a Fairfield Inn at 9320 Poplar Ave. for $2.8 million from ER Johnson Road H...

20. Archived Article: Real Recap - 2144 Madison Ave

Atlanta Firm Refinances French Quarter Suites

2144 Madison Ave.

Memphis, TN 38104

Cost: $4 million

Borrower: Lodgian Memphis Property Owner LLC

Lender: Merrill Lynch Mortgage Lending Inc.

Trustee: Midsouth Title...

21. Archived Article: Ccc Bott - By LAURIE JOHNSON Downtown construction represents good year for CCC By LAURIE JOHNSON The Daily News Try to drive from Beale Street to the Convention Center, and youre likely to wind up fighting for space with bulldozers and construction crews. Whi...