Multifamily real estate sales have been strong in Memphis for a couple of years, and the 41 transactions posted in the third quarter mark the most recorded in a quarter in two years.

“The multifamily market continues to be very strong and has been the strongest real estate sector for the past several years,” said Mark Fogelman, president of Memphis-based Fogelman Management Group, a national multifamily property management company.

2. Believe It or Not - Saturday, June 18, 2016

Long before Jim Strickland was mayor of Memphis, he was a thirtysomething lawyer and sports fan. Not always in that order. He loved the University of Memphis – his alma mater – and rooted like crazy for the basketball team. And on those less frequent occasions when there was a reason to believe, for the football team, too.

3. $12.6M Building Permit For New Ballet Memphis HQ - Thursday, April 21, 2016

2144 Madison Ave.
Memphis, TN 38104
Permit Amount: $12.6 million

Owner: Ballet Memphis
Tenant: Ballet Memphis
Architect: Archimania
Contractor: Grinder, Taber & Grinder
Details: Ballet Memphis is setting the stage for its Overton Square headquarters as Grinder, Taber & Grinder recently applied for a $12.6 million building permit for new construction.

4. LEDIC Founder Buys Metro 67 Apartments - Saturday, April 16, 2016

The Metro 67 Apartments in Downtown Memphis has been sold by a Dallas equity firm to Scott Ledbetter, founder and chairman-emeritus of LEDIC Management Group in Memphis, and members of his family.

5. Metro 67 Apartments Bought by LEDIC Founder - Thursday, April 14, 2016

The Metro 67 Apartments in Downtown Memphis has been sold by a Dallas equity firm to Scott Ledbetter, founder and chairman-emeritus of LEDIC Management Group in Memphis, and members of his family.

6. Gasol Back in Fold, Grizzlies Still In Thick of Tough Western Conference - Friday, July 10, 2015

There were a few mildly uneasy days between the arrival of Grizzlies controlling owner Robert Pera in Spain and the news that, yes, All-Star center Marc Gasol would indeed re-sign with the team. And not just for a short-term deal, but a five-year max contract (about $113 million) with a player option after the fourth year.

7. Shops at Kirby Gate Sells for $3.4 Million - Friday, May 8, 2015

A California-based investor has purchased the Shops at Kirby Gate in East Memphis for $3.4 million.

An affiliate of Los Angeles-based Westwood Financial Corp. acquired the shopping center at the northwest corner of Quince Road and Kirby Parkway from Shops at Kirby Gate LLC, according to public records.

8. Pinnacle Awards Honor Commercial Real Estate Standouts - Monday, April 13, 2015

The local commercial real estate community gathered at the Memphis Botanic Garden Thursday, April 9, for the 14th annual Pinnacle Awards. Every year, the Memphis Area Association of Realtors Commercial Council honors its members based on their transactional volume, merit and community activity.

9. MRG Enjoys Flurry of Leasing Activity - Friday, March 6, 2015

Memphis-based Makowsky Ringel Greenberg LLC is reporting leasing activity at its retail, office and industrial properties.

10. Real Estate Rally - Saturday, November 1, 2014

Commercial real estate can offer insight into the strength of the local economy. Through the office, retail, industrial and apartment developments that mark the region the economy at work in the real world can be seen.

11. Memphis Multifamily Sector on Firm Ground - Saturday, August 23, 2014

It was 2008 and Memphis-based Makowsky Ringel Greenberg had just acquired a swath of property inside Boyle Investment Co.’s master planned Schilling Farms community in Collierville for a new multifamily development.

12. ‘Significant Headwinds’ - Saturday, July 5, 2014

When Gov. Bill Haslam joined local economic development and civic officials at FedExForum in January to announce that Conduit Global would open a call center in Shelby County that would employ 1,000 people over the next three to five years, it provided a much-needed boost to the local office real estate sector.

13. Commercial Real Estate Sales Up 6.1 Percent In March - Friday, April 18, 2014

Shelby County recorded 208 commercial real estate sales in the first quarter, according to real estate information company Chandler Reports, www.chandlerreports.com.

14. Pahlow Wins Broker of the Year - Monday, April 7, 2014

After enduring early struggles in his commercial real estate career, Scott Pahlow has reached the top of his industry.

Pahlow, an executive vice president with Newmark Grubb Memphis, was named Commercial Broker of the Year Thursday night at the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards gala.

15. CB Richard Ellis Brokers Four Multifamily Sales - Friday, March 21, 2014

The multifamily group at CB Richard Ellis Memphis has closed on the sale of four properties in the Memphis market over the last several weeks.

Briar Club Apartments, a 272-unit apartment community constructed in 1985, sold for $8.7 million, or $32,093 per unit. Cinnamon Trails Apartments, a 208-unit apartment community constructed in 1989, sold for $8.6 million, or $41,461 per unit. respectively. CBRE Memphis represented the sellers, Briar Apartments LLC and Cinnamon Apartments LLC in the sale to New York based Briar Club LLC and Cinnamon Trail LLC.

16. New Life - Saturday, January 18, 2014

When Rob Clark and his wife moved into their home in the historic Evergreen neighborhood in 1993, catalog and distribution operations were still active at the Sears Crosstown building.

That soon changed, and for roughly two decades the hulking property stood as a towering, painful reminder of the area’s faded glory.

17. New Life - Monday, January 20, 2014

When Rob Clark and his wife moved into their home in the historic Evergreen neighborhood in 1993, catalog and distribution operations were still active at the Sears Crosstown building.

That soon changed, and for roughly two decades the hulking property stood as a towering, painful reminder of the area’s faded glory.

18. Bright Spot - Friday, December 20, 2013

The Memphis multifamily market turned in a strong performance during 2013, with enhanced investor interest and new units under construction.

Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division, classified the multifamily market in 2013 as healthy and continuing to improve.

19. Commercial Real Estate Market Reawakens - Saturday, November 9, 2013

After suffering through a prolonged slump, the Memphis commercial real estate market this year began to shake off the rust that gathered during the “Great Recession,” and brighter days could be ahead for the prime markets in the apartment, retail, office and industrial sectors, according to local experts.

20. Events - Thursday, November 7, 2013

The Memphis Light, Gas and Water Division board will meet Thursday, Nov. 7, at 1:30 p.m. in the MLGW board room, 220 S. Main St. Visit mlgw.com.

21. Events - Tuesday, November 5, 2013

Memphis Rotary Club will meet Tuesday, Nov. 5, at noon at the University Club of Memphis, 1346 Central Ave. Peter Letsou, dean of the University of Memphis Cecil C. Humphreys School of Law, will speak. Cost for nonmembers is $18. RSVP to Taylor Hughes at taylor@memphisrotary.org.

22. Events - Monday, November 4, 2013

The Orpheum Theatre will present “West Side Story” Tuesday, Nov. 5, through Sunday, Nov. 10, at the theater, 203 S. Main St. Visit orpheum-memphis.com or call 525-3000 for showtimes and tickets.

23. Apartment, Retail Markets Holding Steady - Friday, November 1, 2013

The Memphis area multifamily and retail markets continue to chug along, with the newer, more upscale products in each sector propping up both overall markets.

Those trends and others in commercial real estate will be the subject of discussion Thursday, Nov. 7, during the 2013 Commercial Real Estate Review & Forecast, one of six seminars in The Daily News’ 2013 Seminar Series.

24. Experts to Provide CRE Outlook at Seminar - Friday, October 25, 2013

Class A office space in East Memphis reigns supreme, which should continue to drive up rental rates, while industrial developers are ramping up activity outside the city of Memphis.

Those trends and others in commercial real estate will be the subject of discussion Thursday, Nov. 7, during the 2013 Commercial Real Estate Review & Forecast, one of six seminars in The Daily News’ 2013 Seminar Series.

25. Panattoni’s Speculative Warehouse Underway - Friday, October 18, 2013

In industrial development news, construction on Panattoni Development Co.’s speculative industrial building in Marshall County, Miss., is progressing.

26. Grizz Hope to Extend Honeymoon Period - Friday, October 4, 2013

Marc Gasol got married during the offseason so, naturally, he was asked how he was enjoying married life.

“It’s not that different,” Gasol said. “We’re still in the honeymoon phase.”

What’s true for the Grizzlies’ All-Star center is true for the entire organization as the team prepares for its first season after the best season in franchise history.

27. Raleigh Village Apartments Sell for $2.3 Million - Saturday, July 6, 2013

Raleigh Village, a 182-unit apartment complex constructed in 1974 and 1980, sold June 28 for $2.3 million, or $13,000 per unit.

Tommy Bronson III and Blake Pera with the CBRE Memphis Multifamily Division represented the seller, Grant Investments LLC, in the sale.

28. Raleigh Village Sells for $2.3 Million - Thursday, July 4, 2013

Raleigh Village, a 182-unit apartment complex constructed in 1974 and 1980, sold June 28 for $2.3 million, or $13,000 per unit.

Tommy Bronson III and Blake Pera with the CBRE Memphis Multifamily Division represented the seller, Grant Investments LLC, in the sale.

29. Mud Island Apartments Sell for $43.6 Million - Saturday, June 8, 2013

A large apartment community on Mud Island has sold for $43.6 million. Riverset, a 500-unit apartment community constructed in 1988 and 1990, sold on May 31 for $43.6 million, or $87,200 per unit.

Blake Pera and Tommy Bronson III with CB Richard Ellis’ Memphis multifamily division represented the seller, Auction Street Associates LP, in the sale to TMF II Riverset LLC.

30. Mud Island Apartments Sell for $43.6 Million - Wednesday, June 5, 2013

A large apartment community on Mud Island has sold for $43.6 million. Riverset, a 500-unit apartment community constructed in 1988 and 1990, sold on May 31 for $43.6 million, or $87,200 per unit.

Blake Pera and Tommy Bronson III with CB Richard Ellis’ Memphis multifamily division represented the seller, Auction Street Associates LP, in the sale to TMF II Riverset LLC.

31. Grizzlies Trying to Create Season to Remember - Friday, May 3, 2013

Disappointments past can set up unmitigated joy in the present. At its best, that’s how this whole sports fandom thing works.

You invest yourself emotionally (yes, perhaps financially, too) and if you hold the stock (your loyalty) long enough, there’s a nice payoff.

32. Cates Named Commercial Broker of Year - Monday, April 29, 2013

The Memphis Area Association of Realtors Commercial Council honored its most productive members of 2012 at the 12th annual Pinnacle Awards gala, held Thursday, April 25, at the Memphis Country Club.

33. Basketball Boon - Saturday, April 27, 2013

Before the Grizzlies began their first-round playoff series with the Clippers in Los Angeles, Dennis Flanagan looked ahead to Game 3, which was to be played on Thursday night, April 25, in Memphis.

34. Avery Park Apartments Sell for $5.2 Million - Saturday, January 5, 2013

Avery Park, a 231-unit apartment community built in 1971 in Northeast Shelby County, sold on Dec. 19 for $5.2 million, or $22,511 per unit.

Blake Pera and Tommy Bronson III with CB Richard Ellis Memphis’ Memphis Multifamily Division represented California-based US Housing Partners VII in the sale to a Utah buyer.

35. Avery Park Apartments Sell for $5.2 Million - Wednesday, January 2, 2013

Avery Park, a 231-unit apartment community built in 1971 in Northeast Shelby County, sold on Dec. 19 for $5.2 million, or $22,511 per unit.

Blake Pera and Tommy Bronson III with CB Richard Ellis Memphis’ Memphis Multifamily Division represented California-based US Housing Partners VII in the sale to a buyer out of Utah.

36. CBRE Memphis Sells $8.7 Million in Apartment Properties - Saturday, December 29, 2012

Tommy Bronson III and Blake Pera with CB Richard Ellis Memphis’ Multifamily Division have sold six apartment communities totaling 693 units and $8.7 million in the past two weeks.

37. CBRE Memphis Sells $8.7 Million in Apartment Properties - Monday, December 24, 2012

Tommy Bronson III and Blake Pera with CB Richard Ellis Memphis’ Multifamily Division have sold six apartment communities totaling 693 units and $8.7 million in the past two weeks.

38. Levenger Leases Up EastPark IV - Friday, December 14, 2012

A Delray Beach, Fla.-based specialty retail company is relocating its Memphis distribution warehouse within the Southeast submarket.

Levenger has inked 96,400 square feet in EastPark Distribution Center IV, 5265 Hickory Hill Road, bringing the 372,800-square-foot building to full occupancy. Levenger also has an operation at 3530 E. Raines Road.

39. Gen X Inks State’s First Location on Austin Peay - Friday, November 16, 2012

A trendy Vernon, Calif.-based retailer has inked its first Tennessee location in Austin Peay Plaza.

Gen X Clothing Inc. signed a 35,000-square-foot lease at 3252 Austin Peay Highway. The space was formerly occupied by Big Lots.

40. Lease Brings New Breed Footprint to 3 Million Feet - Friday, October 12, 2012

New Breed Inc. is enhancing its Memphis operations with a new distribution warehouse lease in the Southeast industrial submarket.

41. Conn.-Based XSE Group Inks Deal - Friday, April 27, 2012

A Middletown, Conn.-based office supply printing company has entered the local industrial scene, taking advantage of Memphis’ centralized logistical capabilities.

XSE Group Inc. has leased 40,214 square feet in Building 14 of Airport Distribution Center, 4006 Airpark St., owned by San Francisco-based ProLogis Inc.

42. Pera, Lightman, Rainer V Take Top Pinnacle Awards - Thursday, April 26, 2012

The Memphis Area Association of Realtors Commercial Council honored the top performers in commercial real estate for 2011 at the 11th annual Pinnacle Awards gala, held Tuesday, April 24, at the Holiday Inn University of Memphis.

43. Dogwood Creek Apts. Sell for $26 Million - Monday, March 5, 2012

Dogwood Creek, a 278-unit apartment community constructed in 1997 in Collierville, sold to New York-based Somerset Partners LLC on Wednesday, Feb. 29, for $26 million, or $93,525 per unit.

44. CK’s Moves Into Jackson as Part of Expansion - Friday, March 2, 2012

A longtime Memphis diner chain is expanding its presence into the Jackson, Tenn., market.

CK’s Coffee Shop has signed a five-year lease for 1,390 square feet of the existing 4,900-square-foot Old Medina Market Gas Station at 2800 Old Medina Road.

45. Drexel Buys Presidents Is. Warehouse - Friday, January 27, 2012

A longtime Memphis-based agricultural chemical provider has snatched up a warehouse on Presidents Island, where it already has a strong presence.

Drexel Chemical Co. purchased the 137,526-square-foot former manufacturing and distribution facility on 12 acres at 2070 and 2071 Channel Ave. on Presidents Island from HPD Properties LLC for $810,000, or $5.89 per square foot.

46. CBRE Brokers Sale of 2 Apt. Complexes - Wednesday, January 25, 2012

CB Richard Ellis Memphis closed two multifamily properties in early January – Oakshire and Summer Trace Apartments.

Tommy Bronson III and Blake Pera with CBRE Memphis’ multifamily division represented LILO LLC in the sale of Oakshire to Memphis Bell LLC.

47. Lofty Heights - Tuesday, January 10, 2012

The Mid-South apartment market is riding high after a strong 2011.

Last year saw increasing occupancies and rents, as well as a shift from investors and lenders back to more stable properties, all of which followed a 2010 that was dominated by activity involving distressed product.

48. Lamar Crossing Apts. Changes Owners Again - Monday, January 2, 2012

2881 Lamar Ave.
Memphis, TN 38114
Loan Amount: $3.5 million

Loan Date: Oct. 7, 2011
Maturity Date: n/a
Borrower: Lamar Apartments LP
Lender: Nessko TN LLC

49. Deeds Filed for $31M Sale of Harbor Town Apts. - Friday, December 30, 2011

The Shelby County Register of Deeds office has now received filings for the Dec. 20 purchase of the 345-unit Arbors at Harbor Town Apartments for $31.5 million, or $91,304 per unit. The Class B complex, which was built in 1991, uses the address 671 Harbor Edge Drive.

50. Harbor Town Apts. Sell For $31.5M - Friday, December 23, 2011

Dallas-based Behringer Harvard has acquired the Arbors Harbor Town Apartments – a 345-unit multifamily community in Harbor Town on Mud Island – for $31.5 million, or $91,304 per unit.

51. Willow Lake Apartments Fetch $7.8M - Thursday, November 24, 2011

A North Hickory Hill apartment complex has traded hands for the second time in 18 months.

Bloomington, Minn.-based New Life Core Willow Lake LLC has bought Willow Lake Apartments at 2774 Mendenhall Road from NW-Willow Lake LLC for $7.8 million. The purchase was financed with a $7 million loan through KeyBank NA.

52. Former C’ville Fitness Center Sells For $2.7M - Friday, October 21, 2011

Memphis-based Hackmeyer Properties has bought the former Prairie Life Fitness Center at 3690 S. Houston Levee Road in Collierville from Prairie Life Fitness LLC for $2.7 million and is leasing the 57,264-square-foot facility to a new fitness company.

53. CBRE Closes On Two Distressed Apt. Complexes - Friday, October 7, 2011

CB Richard Ellis Memphis has recently closed two distressed multifamily properties in the West Winchester apartment submarket.

Tommy Bronson III and Blake Pera with CBRE’s multifamily division represented MPI Coventry Village LLC in the $1.25 million sale of Highland Creek Apartments, 1305 Turkey Run Lane, to Highland Creek Acquisitions LLC.

54. CRE Sales Increase 20 Percent In June - Tuesday, August 2, 2011

Local commercial real estate sales improved in all categories last month, strongly aided by two big-ticket multifamily sales.

Shelby County saw 53 CRE sales in June, a 20 percent increase from 44 sales in June 2010, and a 4 percent boost from 51 in May, according to the latest information from real estate information company Chandler Reports, www.chandlerreports.com.

55. Legends at Wolfchase Sells for $27.8M - Tuesday, July 19, 2011

Legends at Wolfchase, a 300-unit apartment community in the Cordova apartment submarket, sold on Thursday, July 14, for $27.8 million.

Blake Pera and Tommy Bronson III with CB Richard Ellis Memphis’ multifamily division represented the seller, BlackRock, a New York-based pension fund adviser, in the sale to Los Angeles-based Passco Cos. LLC.

56. Preserve at Forest Creek Sells for $45.5M - Monday, July 4, 2011

A Class A apartment community in the Germantown/Collierville submarket has traded hands for $45.5 million – marking the largest multifamily sale in three years.

Preserve at Forest Creek Apartments sold on Wednesday, June 29, for $109,900 per unit to Carter-Haston Real Estate Services Inc.

57. Orchards of Collierville Sells for $15.7M - Friday, June 24, 2011

The Orchards of Collierville – a 226-unit apartment community at 400 Orchard Circle W. – has sold for $15.7 million.

58. Orchards of Collierville Sells for $15.7M - Thursday, June 23, 2011

The Orchards of Collierville – a 226-unit apartment community at 400 Orchard Circle W. – has sold for $15.7 million.

59. Multifamily Sector ‘Poised for Solid Growth’ - Tuesday, May 24, 2011

Multifamily investment activity in Memphis continues to gain steam as lenders slowly loosen their purse strings.

The positive sales activity is being propelled by the market’s improved performance, low interest rates and additional capital coming off of the sidelines after being quiet for the last few years.

60. Northeast Submarket Bolstered By Trio of Deals - Friday, April 15, 2011

A handful of industrial deals in recent weeks hit Northeast Memphis in full force, significantly tightening the already solid submarket.

Mattress Firm has signed a 23,500-square-foot lease in Century Center, 1590 Century Circle, for a new retail and distribution space.

61. Cabot Affiliate Buys Airport Industrial Warehouse - Tuesday, April 12, 2011

3924 Crowfarn Drive
Memphis, TN 38118
Sale Amount: $2.2 million
Sale Date: March 28, 2011
Buyer: Cabot III-TN1M01 LLC
Seller: MM Industrial Memphis LLC

62. Pinnacle Awards Honor City’s Best Brokers - Monday, April 11, 2011

As emcee Dan Conaway noted in his opening address Thursday night at the 10th annual Pinnacle Awards, “OK is the new great.”

63. Pinnacle Awards Honor City's Best Brokers - Friday, April 8, 2011

As emcee Dan Conaway noted in his opening address Thursday night at the 10th annual Pinnacle Awards, “OK is the new great.”

64. Clearbrook Village Apts. Sells for $2.7 Million - Friday, April 8, 2011

Clearbrook Village Apartments LLC, a limited liability corporation associated with Brooklyn, N.Y.-based Besyata Corp., has bought Clearbrook Village apartments at 3516 Tall Oaks Circle from Alliance ES Clearbrook Village LLC for $2.7 million.

65. Hickory Hill Apartments Sell for $10M - Friday, March 25, 2011

Three apartment communities in the Hickory Hill Road/Knight Arnold Road area have sold for a combined price of $10 million.

Tommy Bronson III and Blake Pera with CB Richard Ellis Memphis’ multifamily division represented Hallmark Capital in the sale to Bellevue, Wash.-based Emerald Apartment Group. Wilson Management Inc., the managing entity behind Emerald Apartment Group, will retain and manage the properties.

66. Apartment Optimism - Thursday, December 30, 2010

Apartment owners and operators in the Memphis market forecast a bright 2011, boosted by a continued weak homebuying landscape and a lack of new multifamily product coming online within the market.

“2010 was certainly an improvement for the multifamily sector – both in operations and in sales – over 2009, and we expect to see more of the same next year,” said Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division. “Most operators experienced comfortable revenue growth throughout the year, and there is some positive momentum in continued stable occupancy and concession burn-off next year with the lack of new supply hitting the market.”

67. Winbranch Apartments Sell for $2.4 Million - Tuesday, September 21, 2010

3595 Millbranch Road
Memphis, TN 38116
Sale Amount: $2.4 million

Sale Date: Sept. 7, 2010
Buyer: Winbranch Realty Partners LLC
Seller: LBUBS 2004-C4 Millbranch Road LLC
Loan Amount: $975,000
Loan Date: Sept. 7, 2010
Maturity Date: Sept. 1, 2011
Lender: The Leshum Group LLC

68. New York Company Buys Gardenwood Apartments - Tuesday, June 1, 2010

4975 Hoover Drive
Memphis, TN 38128
Sale Amount: $2.9 Million

Sale Date: May 17, 2010
Buyer: Gardenwood Apartments LLC
Seller: Bank of America NA
Loan Amount: $2.2 million
Loan Date: May 17, 2010
Maturity Date: N/A
Lender: Bloomfield Capital Partners Fund III LLC

69. Gardenwood Apartments Fetch $2.9M From NY Buyer - Monday, May 24, 2010

New York-based Besyata Corp. has paid $2.9 million for the 152-unit Gardenwood Apartments at 4795 Hoover Drive in Raleigh.

70. Philly Company Works to Stabilize Apartment Community - Tuesday, April 27, 2010

Eight months after Philadelphia-based Resource Real Estate bought the Wyndridge Apartments in Hickory Hill, the company’s property management arm, Resource Residential, has made significant progress on a $3.6 million overhaul of the complex.

71. March Commercial Lending Still Slow - Monday, April 26, 2010

Commercial lending activity continues to be slow as companies either choose not to apply or are unable to qualify for loans.

Shelby County banks and mortgage companies made 21 commercial purchase mortgages in March, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com. (This report doesn’t include refinances.)

72. Chattanooga Investors Buy Third Memphis Property - Wednesday, April 21, 2010

An out-of-town investment company has bought its third Memphis apartment complex in less than a year, bringing its total to 590 units.

Chattanooga-based UIGTN II LLC, a trio of partners whose name derives from the title of its management arm, Urban Investments Group LLC, paid close to $1 million on April 15 for the 172-unit Woodbriar Apartments at 4505 Wooddale Ave. in Oakhaven.

73. Tricky Market - Tuesday, April 13, 2010

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.”

74. Philadelphia-Based Investor Buys Waterstone Landing Apartments - Wednesday, March 24, 2010

The Memphis multifamily market remains attractive to Resource Real Estate Inc., which has bought its second apartment complex here.

75. Memphis College of Art Buys South Main Building - Tuesday, February 23, 2010

477 S. Main St.
Memphis, TN 38103
Sale Amount: $400,000

Sale Date: Feb. 12, 2010
Buyer: Memphis College of Art
Seller: Southeastern LSC Holding Corp., formally known as Lewis Supply Co. Inc.
Loan Amount: $1.5 million
Loan Date: Feb. 15, 2010
Maturity Date: March 1, 2013
Lender: J.R. Hyde III Family Foundation

76. Questions Abound for Commercial Real Estate’s Future - Thursday, February 18, 2010

The commercial real estate market will need to navigate its way through a host of landmines before it sees anything resembling recovery.

That was the message Mark Dotzour, chief economist and director of research for the Real Estate Center at Texas A&M University, told local brokers, bankers and appraisers at Wednesday’s Commercial Property Forecast Summit, held at the Germantown Performing Arts Centre and sponsored by the Memphis Area Association of Realtors Commercial Council.

77. Waddells Buy 14 Units In The Edge at Monroe - Wednesday, February 17, 2010

John and Nancy Waddell have paid $1.5 million for 14 units in Downtown’s The Edge at Monroe Condominiums at 437 and 449 Monroe Ave. The Waddells bought the units Feb. 3 from Monroe Properties LLC, financing the transaction with a $1.5 million loan through Financial Federal Savings Bank.

78. Sale Could Bring Improvements To Bella Vista - Friday, January 15, 2010

Like many projects companies launched before the recession hit, the plan for rejuvenating the 432-unit Bella Vista Apartment Homes in Hickory Hill began with such promise.

In March 2007, a newly formed company, Maple Creek Advisors LLC of Dallas, made its first multifamily acquisition with plans to invest $4 million of renovations in the property.

79. Multifamily Survives Q4, Year - Thursday, January 14, 2010

The fourth quarter of 2009 proved to be a decent period for the local multifamily industry during an otherwise lackluster year. Though some market trends remained relatively unchanged from third quarter, the apartment sector enjoyed a rush of investment sales as more investors pulled the trigger on deals.

80. Conwood Acquisition Helps Salvage November Commercial Sales - Thursday, December 24, 2009

A single, high-dollar transaction helped salvage November’s commercial sales total, accounting for half of the dollar volume last month. Beyond that, the most noteworthy trend to arise from the most recent data was a dearth of activity as Shelby County nears the end of 2009 – the slowest year for commercial transactions in at least two decades.

81. Ministry Buys Apartment Complex With More Evangelizing in Mind - Tuesday, December 22, 2009

Richard Hamlet formed Global Ministries Fellowship in 2003 to spread the gospel by addressing critical needs around the world.

The faith-based nonprofit organization, headquartered in Memphis, supports ministry programs that build churches, educate children, combat hunger and perform other humanitarian deeds on five continents.

82. Commercial Real Estate Hits Doldrums - Friday, December 18, 2009

When it comes to trends, commercial real estate usually lags residential real estate, sometimes by as much as a year. So with the housing market showing its first signs of improvement during the last month or so, the commercial sector needs to prepare itself for a long, bumpy road to recovery.

83. High-Dollar Deal Boosts Commercial Real Estate - Tuesday, October 27, 2009

Following what has become a pattern, the local commercial real estate market in September was salvaged by one large deal that offset an otherwise dreary month.

This time it was Resource Real Estate Inc. to the rescue. The Philadelphia-based company bought the Wyndridge Apartments for $9.5 million Sept. 29 and carried the weight for Shelby County’s commercial activity during the month.

84. Q3 Multifamily Occupancy, Absorption Rates Improve - Friday, October 9, 2009

The Memphis multifamily market fared well during the third quarter amid a difficult economy, as occupancy rates and absorption improved, according to the latest data from CB Richard Ellis Memphis.

85. New Owner Hopes to Improve Apartment Complex - Tuesday, October 6, 2009

Philadelphia-based Resource Real Estate Inc. has pulled the trigger on Shelby County’s third-largest commercial real estate deal of the year, paying $9.5 million for the Wyndridge Apartments in a special warranty deed.

86. Raleigh Apartments Follow Foreclosure Trend - Thursday, September 10, 2009

The foreclosure crisis has claimed another multimillion-dollar commercial victim, this one the 432-unit Jamesbridge apartments in Raleigh.

A first-run foreclosure notice against the multifamily complex’s owner begins on Page 42 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

87. Multifamily Market Stable, Says CBRE Report - Thursday, August 13, 2009

Amid the credit crunch and financial collapse of the past couple years, one word has been applied to Memphis’ multifamily market – stable.

That description held true for the second quarter of 2009, according to the latest MarketView report compiled by CB Richard Ellis Memphis’ multifamily division.

88. Commercial Sales: Nowhere to Go But Up - Monday, June 1, 2009

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.)

89. Foreclosures Slow After Subprime Spigot Begins to Trickle - Friday, May 22, 2009

In the fight against foreclosure, even the smallest victories should be celebrated, from a family staying in its home to a predatory lender going out of business.

Go ahead and count the latest figures as another reason to cheer.

90. Multifamily Market Dominated By Foreclosure Sales - Thursday, May 14, 2009

Apartment complexes can be found throughout Memphis, but lately it seems the center of the multifamily world is on the courthouse steps Downtown.

Foreclosure sales have dominated the industry’s activity in Shelby County of late, with the most lucrative deals occurring as trustees’ deeds after the original owner defaults on a property or as bank sales after the lender reclaims and resells the property.

91. Mud Island Apartments to Bolster Existing Condos - Thursday, April 16, 2009

It took a tax break from the Center City Revenue Finance Corp. to get the project going, but construction of Grand Island, a $19 million, 204-unit apartment complex slated for Mud Island, got the green light this week and will commence in November.

92. Memphis Multifamily Experiences Mixed Results - Monday, February 23, 2009

The Memphis multifamily market is garnering mixed reviews as analysts reflect on a relatively stable 2008 while projecting a potentially turbulent 2009.

Though the apartment sector didn’t fare as poorly as office and retail last year, it did endure a host of downward trends, from occupancy to construction to absorption, according to year-end data from the multifamily division of CB Richard Ellis Memphis.

93. Aldi Inc. Buys Land For Collierville Store - Tuesday, January 13, 2009

523 W. Poplar Ave.
Collierville, TN 38017
Sale Amount: $1 Million

Sale Date: Nov. 25, 2008
Buyer: Aldi Collierville LLC
Seller: Martin and Mildred Tippit

94. Hickory Pointe Sells For $5.8M to Utah Investor - Friday, January 9, 2009

The Hickory Pointe Apartments at 2775 Hickory Pointe Lane in Hickory Hill has sold for $5.8 million in a substitute trustee’s sale to Hickory Pointe Apartments Utah LLC, an affiliate of Salt Lake City-based Capital Growth Corp.

95. Multifamily Sector Steady to Good in Q3 - Friday, October 31, 2008

The Memphis multifamily market once again proved itself resistant to the economic downturn, registering another period of improvement during the third quarter (July through September) as other sectors continued their slide.

96. Multifamily Sector Healthy in Q2 - Tuesday, September 16, 2008

No matter how tough the economy gets, people still need a place to live, and one of the few sectors to weather this latest downturn has been multifamily.

Apartment business registered a solid second quarter (April through June) this year with steady occupancy plus upward trends in the categories of rents, construction and absorption, according to the latest multifamily report by CB Richard Ellis Memphis’ multifamily division.

97. Commercial Real Estate Tumbles - Friday, August 22, 2008

After a prolonged and prosperous ride, commercial real estate stumbled in the past year with no signs of regaining its balance anytime soon.

Just 998 commercial sales were made in Shelby County from August 2007 through July 2008, down 17.6 percent from 1,211 sales during the previous 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

98. June Commercial Sales Down 31 Percent - Thursday, July 31, 2008

New month, same story for Shelby County’s commercial real estate market.

Following a recent trend, June’s sales total was salvaged by a high-profile, high-dollar multifamily transaction that kept the commercial numbers afloat while other property types foundered.

99. Colonial Grand Transaction Gives Boost To Local Commercial Market - Wednesday, July 2, 2008

The commercial real estate market received a much-needed boost last week when Louisville, Ky.-based NTS Realty Holdings LP followed through on its plans to buy the Colonial Grand at Shelby Farms apartment complex for $41 million.

100. May Commercial Sales Drop 75 Percent - Monday, June 23, 2008

Take away the $16 million multifamily portfolio sold in a complicated deal that kept the properties out of bankruptcy and Shelby County’s commercial real estate activity in May was a picture of paltriness.