Chicago Real Estate Firm Buys Major Memphis Sites

     Chicago-based HSA Commercial Real Estate has bought several prominent Memphis properties in a multi-million dollar deal with AMB Property Corp. The sale includes properties in Willow Lake Business Park and Corporate Park.
     Details of the deal were not available by press time, but sale documents filed with the Shelby County Register of Deeds Office through Jan. 8 hint at specifics.
     Five limited liability companies (LLCs) under HSA Acquisitions Inc. - a company that shares its address with the corporate headquarters of HSA Commercial Real Estate - paid $40 million to AMB Property II LP for properties at 3960-3984, 3900-3950, 4135-4163 and 4002-4040 Willow Lake Blvd. and 5146-5202, 5070 and 5250-5300 Raines Road in Willow Lake Business Park.
     The same LLCs paid $13.1 million to AMB/Erie Local LP for 3635, 3696 and 3660 Knight Road, 4600 Cromwell Ave. and 5838 Advantage Cove in Corporate Park.
     And one HSA-affiliated LLC bought property at 3900-3920 Outland Road for $300,000. That property is in Outland Business Center.
     Representatives from AMB Property said the company is in a "quiet period" before the announcement of its fourth-quarter and full-year 2006 earnings. Those are scheduled to be released Jan. 23 after the close of market. Calls to HSA were not returned by press time.
     HSA Commercial Real Estate provides development, management, leasing and client services in retail, office, health care, industrial and mixed-use properties. The company has completed more than 7,500 real estate transactions valued at more than $2 billion in the last 25 years, according to its Web site. Besides its headquarters in Chicago, it has project offices in Wisconsin, Ohio, Florida, Georgia, North Carolina and Louisiana.
     AMB Property Corp. is a publicly traded real estate investment firm (REIT) founded as an investment management business in 1983. The company focuses on major hub and gateway distribution markets throughout North America, Europe and Asia.
     The Daily News will continue to cover this deal as more information becomes available.

Local Judge Named In TCJ Complaint

     A complaint has been filed with the Tennessee Court of the Judiciary against Judge Donna M. Fields of the Circuit Court of Shelby County for the 30th Judicial District. Fields presides over Division 7.
     Rosine Ghawji appeared before Fields on Jan. 2 in a divorce hearing and alleges that during the hearing, she was not allowed proper representation by a capable attorney.
     Fields is alleged to have allowed Mrs. Ghawji's local Tennessee counsel to withdraw, without good cause, during the Christmas holiday period and just days before trial, according to a statement released by the Nashville office of The Klayman Law Firm, which is representing Ghawji in the complaint.
     In addition, the release states, one of Ghawji's out-of-state lawyers was forced to take the witness stand and divulge information about attorney-client communications during the hearing.
     "To coerce the lawyer to testify, Judge Fields threatened him with fabricated criminal charges of kidnapping based on the simple fact that the Ghawji children had not gone to school that day," attorneys said in a statement.
     Fields' office had received notice of the filing Tuesday afternoon, according to a court spokesman. But Fields could not comment about the action because the divorce case is still open.
     Ghawji also alleges in the complaint that her husband, Maher Ghawji, a prominent Memphis endocrinologist, has terrorist ties, and that Fields acted improperly by excluding the terrorism issues from the Jan. 2 hearing.
     Maher Ghawji could not be reached by press time.
     Mrs. Ghawji further alleges that her husband has threatened to kill her and her two small boys if they do not abide by radical Islamic doctrine.
     "All of this bears on issues of child custody, as Mrs. Ghawji fears for the safety of her children," attorneys said in the release.
     "The compounding factor was that she was stopped from filing any complaints in other jurisdictions, which sort of limits her opportunities for having a judicial review outside of that court," said spokesman Russ Verney of The Klayman Law Firm.
     As the next step in the process, Fields will be made aware of the charges against her and will be given a chance to respond.
     "And the commission will determine if there's any need for further investigation beyond the information supplied by the parties and then the commission will decide if disciplinary action needs to be taken," Verney added.
     The process is usually a lengthy one and details remain private until a decision has been reached, he said.

CNL Buys Logan's For $3.6 Million

     A Logan's Roadhouse Inc. property at 2710 N. Germantown Parkway has sold for $3.6 million to CNL Net Lease Funding 2003 LLC. The restaurant was built in 1997 on 2.41 acres on the east side of North Germantown Parkway in front of Wolfchase Galleria mall. The Shelby County Assessor's 2006 appraisal was $2.1 million. CNL financed the purchase with a $3.6 million loan through Wells Fargo Bank NA, with the loan having a maximum value of $4.5 million.
     CNL Net Lease Funding is affiliated with Trustreet Properties Inc., a company formed by the merger of CNL Restaurant Properties, U.S. Restaurant Properties and 18 CNL income funds. In Orlando, Fla., Trustreet is now the largest publicly traded self-advised restaurant real estate investment trust (REIT) in the United States, according to the company. To learn more about REITs, see our Oct. 19 Law Focus at www.memphisdailynews.com.

Interim Restaurant to Open In Place of Wally Joe

     Chef Wally Joe has left the restaurant bearing his name to pursue other interests, according to a statement.
     Fred Carl Jr., founder and CEO of Viking Range Corp. in Greenwood, Miss., said Wally Joe Restaurant on Sanderlin Avenue will open under the new name Interim with a new staff later this month.
     Messages left at Viking were not returned by press time.
     "In preparation for its reopening, the restaurant will be closed for approximately two weeks beginning Jan. 8," Carl said in the statement.
     In October, Joe joined the Brushmark Restaurant at the Brooks Museum of Art as executive chef.
     In addition to the changes planned for the restaurant, the business also is being offered for sale. And there are several interested prospects, both local and out of town, Carl said.
     "Yes, the restaurant is for sale, but in the meantime we're going to have a little fun and operate the place under the name Interim," Carl said. "What better name for a restaurant being operated on an interim basis?"
     The executive chef at Interim will be Jackson Kramer, who formerly worked at the restaurant under Wally Joe and chef de cuisine Andrew Adams.
     Adams currently works alongside Joe at the Brushmark.

Frick Named Market President For Bank of America

     Bank of America has named Michael Frick market president for Memphis and surrounding communities. John Stein, Bank of America's Tennessee president, made the announcement Tuesday.
     In his new position, Frick will act as the senior executive for business, civic and philanthropic leadership for Bank of America in Memphis.
     "Mike is an experienced banker who will be an effective champion for business growth, community investment and neighborhood vitality in the Memphis area," Stein said in a statement. "Memphis is a key growth market for Bank of America and we are fortunate to have such a strong, proven leader like Mike heading our team locally."
     Frick will continue to serve as a senior client manager in commercial banking, where he is responsible for business development and client strategies for commercial clients in Memphis, West Tennessee and Mississippi.
     Frick has worked for Bank of America since 1980. Frick, 48, lives in Midtown Memphis with his wife, Elise Leffler Frick. He has lived in Memphis for more than 30 years. Throughout his career, Frick has held a number of leadership positions within the commercial banking industry.

Collection Drive Planned To Honor Slain State Trooper

     WMC TV-5 and The Covington Leader are holding a collection drive in honor of slain Tennessee state trooper Calvin W. Jenks Thursday from 6 a.m. to 1 p.m. in the Covington Leader parking lot, 2001 U.S. 51 South in Covington.
     Jenks was killed Saturday night during a traffic stop on a rural Tipton County road.
     Two suspects, Alejandro Guana, 17, and Orlando Garcia, 19, were arrested in Nashville Sunday.
     All money collected will go to the Trooper Calvin W. Jenks Memorial Fund. Money raised will support the establishment of a college scholarship in Jenks' name.