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Editorial Results (free)

1. NY-Based Retail Owner Defaults on $25.6M Loan -

Four retail properties across six parcels in Collierville and Cordova owned by affiliates of New York-based Nightingale Properties are in default and facing foreclosure.

A first-run foreclosure notice has been filed for three retail properties in Collierville and one in Cordova after borrowers defaulted on a $25.6 million loan secured by the properties. The properties are scheduled for sale Friday, June 29, at noon by substitute trustee Robert F. Tom.

2. New Owner For Bartlett Car Wash Property -

A former car wash site in Bartlett has traded hands. Nyan Jaf acquired the 0.71-acre lot at 5960 Summer Ave. from Mr. Carwash LLC for $65,000.

3. Foreclosure Notice Filed for C'ville, Cordova Sites -

A first-run foreclosure notice has been filed for three retail properties in Collierville and one in Cordova after borrowers defaulted on a $25.6 million loan secured by the properties. The properties are scheduled for sale Jan. 13 by substitute trustees Nelwyn Inman and Robert F. Tom.

4. Calif. Investor Buys Midtown Apartments -

A vintage apartment complex in Midtown is under new ownership.

Gabrion Properties LLC closed on approximately 20,000 total square feet of space in Cherokee Arms Apartments for $455,000. The three-story apartment complex, 1508 Madison Ave., contains 30 studio apartments with historic vintage architecture.

5. Improvement Planned ForProperties in $31M Deal -      New York-based Nightingale Properties and equity partner Reuben Stein of Memphis have bought five properties in Memphis, Cordova and Collierville for more than $31 million with plans to hold them long term.
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