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Editorial Results (free)

1. Shelby County Home Sales on the Rise -

Shelby County experienced a modest increase in home sales in April compared to the same month last year, but sales rose sharply from March and prices continued their upward surge.

Shelby County recorded 1,356 home sales in April, up 2 percent from the 1,335 homes sold in April 2013, according to real estate information company Chandler Reports, www.chandlerreports.com. However, the 1,356 homes sold in April is up 14 percent from the 1,192 homes sold in March, giving Realtors hope that the market is heating up along with the weather.

2. Loeb Files $2 Million Loan on Park Place -

The Loeb Properties affiliate that owns Park Place Centre at Park Avenue and Ridgeway Road has filed a $2 million loan on the property.

Park Place Memphis LLC filed the deed of trust and security agreement and fixture filing statement (second priority) Feb. 13 through Thrivent Financial for Lutherans. Loeb vice president Earl Williams signed the trust deed on behalf of the borrower.

3. Willow Oaks Owner Files $1.9 Million Loan -

The owner of the 346-unit Willow Oaks apartment complex at 2429 Ketchum Road has filed a $1.9 million loan on the property.

4. Westside Mobile Home Park Sells for $3.3 Million -

Westside Mobile Home Park at 8393 U.S. 51 N. in Millington has sold for $3.3 million. Jason W. Hutchison and Angela B. Hutchison, doing business as Trio Properties, purchased the 36.3-acre site in a July 1 warranty deed from Forbess Properties, a partnership between Robert A. Forbess and Michael E. Forbess.

5. Data Point to Improving Housing Market -

The average number of days a home in the Memphis area stayed on the market for the month of May dipped to a seven-year low for that month, providing more evidence of a housing market in recovery.

According to the Memphis Area Association of Realtors, the average market time for a home in May was 86 days, a 16.5 percent dip from 103 days in April and the lowest market time total for May since 2006.

6. Baptist Group Buys Former Post Office -

Baptist Memorial Medical Group Inc. has paid $1.3 million for the former U.S. Postal Service location at 1520 Union Ave. in Midtown.

7. Crews Development Files $1.9 Million Construction Loan -

Crews Development LLC has filed a $1.9 million construction loan through Triumph Bank for 23.74 acres of land in Collierville.

8. Willow Oaks Apartments Sells for Second Time -

The 346-unit Willow Oaks apartment complex at 2429 Ketchum Road has sold once again after trading hands in September.

Blue Salt LLC, a Delaware company, paid $1.5 million for the multifamily property in the Defense Depot’s 38114 ZIP code from Bountiful, Utah-based Noall Investment Properties LLC.

9. Housing Improves 20 Pct. in Q1 -

Local home sales saw a 20 percent boost during the first quarter, with increases in both traditional and foreclosure sales, and agents suggest that among such low inventory levels, it’s a move in the right direction.

10. West Clinic Starts Phase I Drug Trial -

The West Clinic is conducting a Phase I trial using a new class of drug called a checkpoint inhibitor.

This study is currently being directed by Dr. Jason Chandler, the acting Phase I director, who says the trial is for patients who have exhausted all current standard therapies, and that the treatment has a mechanism of action that could make standard chemotherapy more effective.

11. ‘Modified and Decreased’ -

The Memphis condominium market is hoping to gain some positive momentum through the rest of this year thanks to historically low interest rates and decreasing condo supply across the city.

Condo sales in the Memphis area in 2011 are down 27 percent compared to 2010, with 310 sales through July this year versus 422 sales in the same time during 2010, according to real estate information company Chandler Reports, www.chandlerreports.com.

12. Cordova Jason's Deli Financed for $1.1M -

Deliworx Building Partners LLC has filed two loans totaling $1.1 million for property at 1585 Chickering Lane through First National Bank of Oxford. The $935,000 and $157,123 loans are both dated June 2011, and both mature in June 2016.

13. Principal Buys G’Town Collection for $7.3 Million -

The 60,724-square-foot Germantown Collection shopping center that includes tenants such as Chili’s and Panera Bread at the corner of Poplar Avenue and Exeter Road has been bought out of foreclosure.

14. Park Place Centre Financed for $7.4M -

Park Place Memphis LLC, a Loeb Properties Inc. affiliate that bought Park Place Centre from Belz Enterprises Inc. for $10.3 million in December, has financed the shopping center for $7.4 million through Thrivent Financial for Lutherans. The loan matures in April 2026.

15. Motorsports Park Deeds Filed With Register -

The deed representing the sale of Memphis Motorsports Park to a limited liability company affiliated with investor Joe Lubeck has now been filed with the Shelby County Register of Deeds.

Moroso Investment Partners IV LLC bought the park from Memphis International Motorsports Corp. for $2.1 million. The deal closed Jan. 31.

16. Housing Market Tumbles 21 Percent -

While October’s home sales are down – 21 percent from the same month a year ago – many local real estate agents are ramping up their marketing efforts to increase their customer base.

17. Mercer Capital Promotes Heinz to Senior VP -

Nicholas J. Heinz has been promoted to senior vice president at Mercer Capital. Heinz joined Mercer Capital in 2000 and is a senior member of the Mercer’s investment banking corporate valuation division.

18. Downtown Condo Market Hangs On -

Cautiously optimistic. That would be a pretty accurate phrase to describe the mood of condominium brokers who sell primarily in Downtown Memphis.

Sales in the county’s densest condo submarket totaled just eight in July, a 53 percent decline from 17 the same month a year ago, according to real estate information company Chandler Reports, www.chandlerreports.com.

19. Dickson County Wins for Best Tasting Tenn. Water -

MURFREESBORO, Tenn. (AP) — This was not a wine tasting. There were no white tablecloths, no breakdowns into red and white and no cheese nearby.

Nevertheless, the Dickson County Water Authority was declared Tuesday to have the best tastin' good ol' Tennessee water.

20. Crews Buys Collierville Hampton Inn for $5.1M -

An entity called SGR LLC, whose principal is Jason Crews, has bought the Hampton Inn at 1280 W. Poplar Ave. in Collierville for $5.1 million from Collierville Hotels GP. The sale closed May 11.

21. Condo Market Sees Strong Rebound in December -

The latest sales numbers show the Downtown condominium market is making a slow and steady recovery, but perhaps the most telling sign that things are improving can be gleaned from a recent deal brokered by real estate agent Jason Durston.

22. Housing Divided -

A couple of years ago, when Clay Thompson of Memphis decided it was time to stop renting, he set his sights on the Downtown condominium market. He was especially interested in the old warehouses in the South Main Historic Arts District that had been converted to condos.

23. Baker Donelson’s Williams Appointed To Volunteer Leadership Role at ILTA -

Merideth L. Williams has been appointed to the volunteer leadership role of conference vice president in the International Legal Technology Association. She will work with other volunteers in the delivery of educational programming to members of ILTA.

24. 17 Lots in Collierville Gardens Sell for $1.5M -

Jason Crews Partnership has sold 17 lots in the Collierville Gardens Planned Development for $1.5 million to Hilliard Crews Partnership. The sale occurred Sept. 17. The 23-lot, 56.66-acre subdivision was developed by Shelby Group Realty LLC, which filed its plat on the property in 2001.

25. Developer Files $8M Permit For Barboro Flats -

The development team of the Barboro Flats mixed-used building at 100 S. Main St. Downtown has filed an $8 million permit with the city-county Office of Construction Code Enforcement to begin the second phase of the project, which is the multifamily component.

26. Dentist Buys Cordova Medical Office -

Jason Collier, a dentist at the Southern Dental Implant Center, has bought the Cordova building that houses the practice. Collier paid $800,000 to buy the 7,112-square-foot medical office building from William and Jeanne Locante. William Locante is a partner at the Center’s Nashville practice.

27. New Orleans-Style Center Comes to Cordova - A $1.6 million retail center with a French Quarter motif is being built in Cordova. The Commons at Dexter Lake LLC has filed a $1.2 million construction loan to build a 10,400-square-foot retail center, dubbed Vieux Carré, at the southwest corner of Germantown Parkway and Dexter Road. Construction started this week.

The development team bought the land from John B. Maxwell Jr., trustee, for $334,541 and filed the construction loan through First Citizens National Bank. Commons at Dexter Lake LLC principal Nancy Waddell signed the trust deed.

The center will sit on a 9-acre parcel west of the Jason’s Deli off Dexter Road. The property is near the Commons at Dexter Lake retail center and the Reserve at Dexter Lake apartments.

A spokesman for the developer said the seven-bay center already has five leases signed. Tenants include a Belle Meade salon, financial planner Martin Hearn, a Crown Trophy store and a florist/gift shop.

Jeff Blackledge is architect for Vieux Carré. KT Construction LLC, whose partners are Scott Turnage and Riley Kail, will be the general contractor. Turnage said the company is “stripping the lot off right now and pushing hard for the first of the year” to complete the center.

“We’re going to go for kind of a hybrid French Quarter style – we’re going to be doing more of a Bourbon Street look,” Turnage said. “It’s going to be a strip center, but we’re going to try to give each space individuality, using depth and height offsets to try to give each space somewhat of a unique appearance.”

More retail space will be coming to the site soon.

Source: The Daily News Online & Chandler Reports


...

28. Methodist's Marshall to Serve On American Heart Association Board -

Barry S. Marshall, administrator of Clinical Business Development and Cardiovascular Service Line at Methodist University Hospital, has been named to a three-year term on the board of directors of the Shelby County Division of the American Heart Association. Marshall joined Methodist in 2004 as the director of the Transplant Institute at Methodist University Hospital.

29. Slots Aren't Paying -

Editor's Note: This is the first in The Daily News' three-part series "Housing Hurdles," an examination of the slumping real estate market and what it means for Realtors, builders and homeowners.

Like many Realtors, Jay Fletcher experiences highs and lows of the real estate business through his wireless handheld device - that ubiquitous tool of the new millennium.

30. Judge Larry Potter Receives KAB Award -

Larry E. Potter, presiding judge of the Memphis/Shelby County Environmental Court, has received Keep America Beautiful's (KAB) Iron Eyes Cody Award. The award was named in honor of KAB's landmark public awareness campaign of the 1970s, "People Start Pollution. People Can Stop It," which featured the iconic face and tear of Iron Eyes Cody and is credited with awakening the environmental consciousness of an entire generation. Potter became the first Environmental Court judge in Memphis and Tennessee in 1983. During that year, he helped create the court.

31. Archived Article: Real Recap - Downtown Condos Planned For Lawrence Building

Downtown Condos Planned for Lawrence Building

Property near

South Main Street

Cost: $5.8 million

Borrower: Downtown Developers LLC

Lender: InSouth Bank

Trustee: John Dollar

Proper...

32. Archived Article: Daily Digest - South Main Property

South Main Property

Financed for $4.6 Million

99-105 South Main LP has financed property near South Main Street and Gayoso Avenue with a $4.6 million construction loan through Renasant Bank. The loan was signed by Jason ...

33. Archived Article: Memos - Veronica F

Veronica F. Coleman-Davis was appointed to Bank of Bartletts board of directors. She is a former U.S. Attorney in Memphis. She is president and chief executive officer of the National Institute for Law and Equity. Molly Okeon was promo...