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Editorial Results (free)

1. Corner Park Complex Sells for $558K in Foreclosure -

4150 Winchester Road
Memphis, TN 38118
Sale Amount: $558,000

Sale Date: Oct. 26, 2010
Buyer: City National Bank
Seller: City National Bank via Stewart Title of Memphis Inc.
Original Borrower: Alterra Corners LLC
Original Lender: City National Bank
Original Loan: $3.6 million
Original Loan Date: February 2007

2. Corner Park Apartments Sells in Foreclosure Sale -

City National Bank has bought back the Corner Park apartment complex at 4150 Winchester Road from substitute trustee Stewart Title of Memphis Inc. for $558,000.

3. Alterra Capital GroupCompletes Renovations -      Miami-based Alterra Capital Group has completed its $4.7 million rehabilitation at three multifamily communities in Memphis: Corner Park, Winbranch Apartments and Parkview Apartments, the company said late last week.
4. Miami-Based Group Invests More in Memphis -

Geographically and culturally, South Beach is a long way from Beale Street, but that hasn't stopped a group of Miami investors from plunging into the Memphis multifamily market.

Miami-based Alterra Capital Group - whose principals are Matt Papunen, Adam Singer and Matthew Wanderer - recently bought a fourth apartment complex in Memphis, beefing up its local portfolio to $41 million.

5. Florida Company Moves in on Rental Market via Distressed Properties -

If Eleanor Perry knew exactly what was in store for her when she moved into the Oakview Apartments at Lamar and Kimball avenues in mid-September, she might have looked elsewhere.

"This is the worst place I have ever lived in my life," she said.