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Editorial Results (free)

1. French Quarter Inn Sells for $1.9 Million -

The long-vacant French Quarter Inn on Madison Avenue near Overton Square has been sold for $1.9 million, according to property records.

California-based NCE Realty and Capital Group LLC closed Dec. 31 on the purchase of the 105-room inn at the northeast corner of Madison Avenue and Cooper Street.

2. French Quarter Inn Sells for $1.9 Million -

The long-vacant French Quarter Inn on Madison Avenue near Overton Square has been sold for $1.9 million, according to property records.

California-based NCE Realty and Capital Group LLC closed Dec. 31 on the purchase of the 105-room inn at the northeast corner of Madison Avenue and Cooper Street.

3. French Quarter Deal Collapses -

A Texas-based group had inked a deal to purchase the long-vacant French Quarter Suites Hotel near Overton Square, but the proposed sale fell through the cracks.

Austin, Texas-based ASC Management had until Oct. 31 to close on the purchase of the 105-room inn at the northeast corner of Madison Avenue and Cooper Street but did not complete the sale.

4. French Quarter Suites Deal Hangs in Balance -

A planned deal to redevelop the long-vacant French Quarter Suites Hotel near Overton Square is nearing a critical deadline.

Austin, Texas-based ASC Management has until Oct. 31 to close on the purchase of the 105-room inn at the northeast corner of Madison Avenue and Cooper Street but has not yet done so, according to one of the property’s current owners.

5. French Quarter Deal Hangs in Balance -

A planned deal to redevelop the long-vacant French Quarter Suites Hotel near Overton Square is nearing a critical deadline.

Austin, Texas-based ASC Management has until Oct. 31 to close on the purchase of the 105-room inn at the northeast corner of Madison and Cooper Avenues but has not yet done so, according to one of the property’s current owners.

6. Filling the Voids -

Last year was a banner year for adaptive reuse projects in Midtown and Downtown.

Developers announced plans for the Sears Crosstown building, Overton Square, Hotel Chisca, James Lee House and old United Warehouse in the South Main Historic Arts District. Construction began on The Pyramid, turning it into a 220,000-square-foot mega-Bass Pro Shop Outdoor World, and Memphis in May moved into its new headquarters at 56 S. Front St., a 14,600-square-foot building that’s on the National Register of Historic Places.

7. Room Service -

The good news for the local hotel industry is that last year notched the most rooms ever sold on a daily basis with 4.8 million – 115,628 more than 2010 and 76,780 more than the previous high set in 2007.

8. French Quarter’s New Owners Meet With Residents -

Two new local owners are under contract to buy and convert the former French Quarter Suites Hotel in Midtown’s Overton Square district to a Comfort Suites in a $6 million project.

At a public meeting Wednesday, Feb. 1, at Memphis Heritage Inc.’s office, 2282 Madison Ave., partners Jay Kumar and Rishi Chopra revealed plans to purchase the vacant 103-room hotel at 2144 Madison Ave., at the northeast corner of Cooper Street and Madison from FQI LLC for $2.3 million and pump about $3.7 million into renovations.

9. Former French Quarter Hotel to Become Comfort Suites -

Two new local owners are under contract to convert the former French Quarter Suites Hotel in Midtown’s Overton Square district to a Comfort Suites in a $6 million project.

At a public meeting Wednesday, Feb. 1, at Memphis Heritage, 2282 Madison Ave., partners Jay Kumar and Rishi Chopra revealed their plans to purchase the vacant 103-room hotel at the northeast corner of Cooper Street and Madison Avenue from FQI LLC for $2.3 million and pump about $3.7 million into renovations.

10. Midtown Vacancy -

Memphis hospitality professional Tony Westmoreland hopes someone can breathe new life into a beleaguered, empty Midtown building that operated as a hotel for more than four decades.

11. Yosemite Sam’s Set to Close, Sell to Loeb -

Yosemite Sam’s, the longest-running existing business in Overton Square, will close Aug. 27, according to the owner, Faye Pannell.

12. French Quarter Suites Hotel Bought Back by Original Owner -

2144 Madison Ave.
Memphis, TN 38104
Sale Amounts: $1 Million; $300,000; $200,000

Sale Dates:Nov. 20, Nov. 5 and Nov. 12, 2009
Buyer:FQI LLC
Sellers:Lodgian Memphis Property Owner LLC, Horace and Ann Proctor, and Martha D. Sutton
Loan Amount:$1.3 million
Loan Date:Nov. 30, 2009
Maturity Date:Nov. 20, 2010
Lender:Triumph Bank

13. French Quarter’s Original Owners Buy Back Property -

The French Quarter Suites Hotel has come full circle, as the group that originally owned the property in the 1980s reacquired it last month for $1.5 million.

FQI LLC, a limited liability company whose chief manager is Ronald L. Kirkpatrick, bought the shuttered hotel at 2144 Madison Ave. from three sellers – Lodgian Memphis Property Owner LLC, Horace and Ann Proctor, and Martha D. Sutton – in three separate warranty deeds all dated in November.

14. 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...

15. Archived Article: Memos - Robert Moullen has been appointed general manager for the French Quarter Suites Hotel, 2144 Madison Ave Robert Moullen has been appointed general manager for the French Quarter Suites Hotel, 2144 Madison Ave. Moullen has more than 18 years of experi...