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Editorial Results (free)

1. Shelby Farms Files $25 Million Permit for Lake Expansion -

500 Pine Lake
Memphis, TN 38134
Permit Cost: $25 million

Project Cost: $52 million
Permit Date: Applied May 2014
Completion: June 2016
Owner: Shelby Farms Park Conservancy
Tenant: Shelby Farms Park Conservancy
Architect: james corner field operations
Contractor: Montgomery Martin Contractors LLC
Details: The Shelby Farms Park Conservancy has filed a $25 million permit with the city-county Office of Construction Code Enforcement to expand Patriot Lake.

2. South Memphis Fence Grows Through Founder’s Experience -

Warren Price started South Memphis Fence Co. Inc. in the mid-1970s “out of need” – personal need.

He and his wife had just moved into their first home in 1974 and wanted to replace the 4-foot chain link fence with a wooden privacy fence. But they didn’t like the $2,700 to $3,000 price estimates they received. So Price and some friends got a good price on some lumber in Jackson, Tenn., rented a table saw from Dixie Rents and put up a wooden fence that came in at $800 to $900.

3. City Council Reviews Raleigh Springs Mall Plan -

Memphis City Council members get their first public detailed look Tuesday, Feb. 4, of an “urban renewal” plan for the Raleigh Springs Mall.

The council meets at 3:30 p.m. at City Hall, 125 N. Main St. Follow the meeting @tdnpols, www.twitter.com/tdnpols.

4. MRG Sees Flurry of Activity at Marion Center -

In 2008, Memphis-based Makowsky Ringel Greenberg LLC developed The Shops of Angelos Grove retail center in Marion, Ark.

5. Land South of Shelby Forest Sells for $2.3 Million -

Vacant Land
Near Shelby Forest Park
Sale Amount: $2.3 million

Sale Date: Nov. 17, 2011
Buyer: Warren Nickolas Nunn
Seller: Estate of William S. Howard Sr.
Loan Amount: $2.5 million
Loan Date: Nov. 18, 2011
Maturity Date: n/a
Lender: Patriot Bank
Details: Warren Nickolas Nunn has bought several large parcels of vacant land from the estate of William S. Howard Sr. for $2.3 million, financing it with a $2.5 million loan through Patriot Bank.

6. MC Ionic Solutions US Begins Work on Fite Rd. Site -

2665 Fite Road
Memphis, TN 38127
Permit Amount: $1.3 million

Permit Date: Applied July 2011

7. Notice Filed on Exchange Building -

A first-run foreclosure notice has been filed against the Exchange Building in Downtown Memphis. The notice appears in the Thursday, June 30, print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

8. $3 Million in Permits Filed For Hacks Cross Buildings -

3152 Hacks Cross Road and
3168 Hacks Cross Road

Permit Amounts: $1.4 million (3152 Hacks
Cross); $1.6 million (3168 Hacks Cross)

9. Global Ministries Foundation Buys Three Apt. Complexes -

Entities affiliated with Cordova faith-based nonprofit organization Global Ministries Fellowship have bought three Memphis apartment complexes this month.

GMF-Warren/Tulane LLC has bought the Warren Apartments complex (1340 Clementine Road) and Tulane Apartments complex (4717-4787 Tulane Road) for a combined $9.5 million from a trio of Rapid City, S.D.-based entities. Meanwhile, GMF-Madison Tower LLC bought Wesley Madison Towers (381-383 Madison Ave.) from Seattle-based Wesley Madison Towers Limited for $2.7 million.

10. Wright Medical Files Permit For Arlington Distribution Center -

11481 Gulf Stream Ave.
Arlington, TN 38002
Permit Amount: $2.2 Million

Project Cost: N/A
Permit Date: Applied May 2010
Completion: N/A
Owner: Wright Medical Group Inc.
Tenant: Wright Medical Group Inc.
Contractor: N/A
Architect: N/A

11. Apartment Complexes Sold to S.D. Company -

The Warren and Tulane apartment complexes sold April 30 for a combined $4.4 million. A trio of Rapid City, S.D.-based entities – Warren Apartments LLC, Tulane Apartments I LLC and Tulane Apartments II LLC – bought the properties.

12. Multifamily Owner Defaults On $19.5M Loan -

In what has become a common theme in the multifamily industry, another pair of large apartment complexes will be sold on the courthouse steps.

The Waterford Pointe Apartments at 5045 Airways Blvd. in Whitehaven and the Carrington Manor Apartments at 4805 Winchester Road in Oakhaven have been foreclosed, according to a first-run notice in today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

13. Tricky Market -

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.”

14. 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.

15. 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.

16. Commercial Sales: Nowhere to Go But Up -

Shelby County’s commercial lending landscape remained bleak in April as activity fell for the fifth time in the past six months.

Just 24 commercial loans were made last month, a 36.8 percent decline from 38 loans in April 2008 and a 22.6 percent decline from 31 loans in March, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com. (Data for this report include only commercial mortgages taken at the time of sale and not refinancings.)

17. Archived Article: Daily Digest - Winchester, Riverdale Land

Winchester, Riverdale Land

Financed for $27.5 Million

Michael A. Lightman Sr. has financed 38.78 acres near Winchester and Riverdale roads for $27.5 million, according to The Daily News Public Records Database, ww...

18. Archived Article: Real Recap - Kohner Refinances The Villages at Harrison Creek

Kohner Refinances The Villages at Harrison Creek

3855 Jackson Ave.

Memphis, TN 38128

Cost: $7.3 million

Borrower: Harrison Creek LLC

Lender: Mortgage Electronic Registration Systems ...

19. Archived Article: Real Recap - Construction Set to Begin on Kress Building

Construction Set to Begin on Kress Building

Three parcels

near Main Street

Cost: $4 million

Borrower: THG Main LLC

Lender: First Tennessee Bank NA

Trustee: Thomas F. Baker IV

Proper...

20. Archived Article: Calendar - May 17 May 17 East Memphis Business and Professional Women will meet at 6 p.m. at Park Palace Apartments, 5400 Park Ave. The speaker will be Marie Draper of Drapers Coaching, Motivation and Empowerment Network. The cost is $17. For reservations, cal...

21. Archived Article: Salem Manor Chg - By CAMILLE H Salem Missionary Baptist Church to renovate apartments Church borrows $2.35 million from First Tennessee Bank to finance construction By CAMILLE H. GAMBLE The Daily News New Salem Missionary Baptist Church has borrowed $2.35 million fro...