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Editorial Results (free)

1. Lennox Cos. Raising Its Profile -

When Lennox Cos. was founded in 2014, the upstart apartment management company owned only three properties with 800 units, but a mere 2 ½ years later it manages 18 properties with more than 3,700 units.

2. Local Multifamily Market Continues To Log Higher Sales, Strong Demand -

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.

3. Largest Multifamily Sale Takes Place for $39.1M -

8285 Irene Blvd.
Memphis 38125

Sale Amount: $39.1 million

Sale Date: Aug. 5, 2016

Buyer: WDC Greens Investment LLC and MEM Greens at Irene LLC

4. Hyde Capital Pays $15.4M For 3 Midtown Properties -

New York-based Hyde Capital has purchased three Midtown properties for a combined $15.4 million.

Rosecrest LLC, a company of Hyde Capital, purchased the Rosecrest Apartments from Northland Rosecrest LLC for $8.5 million in an Aug. 5 warranty deed.

5. Hyde Capital Pays $15.4M For 3 Midtown Properties -

New York-based Hyde Capital has purchased three Midtown properties for a combined $15.4 million.

Rosecrest LLC, a company of Hyde Capital, purchased the Rosecrest Apartments from Northland Rosecrest LLC for $8.5 million in an Aug. 5 warranty deed.

6. Events -

Southwest Tennessee Community College will hold an open house for those interested in pursuing a technology career path Thursday, July 28, from 10 a.m. to noon in the Fulton Building Auditorium, room 400, on the Macon Cove campus, 5983 Macon Cove. Tours will be given of state-of-the-art technology labs and new tech equipment, and attendees can explore associate degrees and technical certificates. Contact Susan Wilson at scwilson@southwest.tn.edu or 901-333-4031 for details.

7. Cordova Apartments Sell for $31.1 Million -

555 Wood Arbor Parkway
Memphis, TN 38018
Sale Amount: $31.1 million

Sale Date: March 2, 2016
Buyer: CEAI Grove LLC
Seller: Trinity 464 LLC
Loan Amount: $4.2 million
Borrower: CEAI Grove LLC
Lender: CBRE Multifamily Capital Inc.
Details: The Grove at Trinity Point apartments have sold for $31.1 million.

8. Last Word: Mudslide, The Deannexation Storm and Kilzer at Calvary -

Lots of news on a very rainy day including the flooding from the constant rain that closed some schools and cancelled a lot of other events. And then there was a mudslide on Riverside Drive from the bluff overlooking Tom Lee Park and the Mississippi River. The rain has also pushed the Wolf River to the point that it is now over some parts of the greenway in Germantown.

9. Blair Tower Getting Complete Renovation -

Development momentum in the Memphis Medical Center has attracted an out-of-town investor looking to jump on the area’s revival.

Blair Tower LLC, an affiliate of New York-based Hyde Capital, recently purchased the Blair Tower apartments for $9.7 million.

10. Last Word: The First Surrogate, Parkside at Shelby Farms and Manilow Memories -

Here they come, fresh from Iowa and New Hampshire – first the surrogates and in the next two weeks the Presidential contenders themselves.

The nation’s “first surrogate” – former President Bill Clinton is at Whitehaven High School Thursday evening to rally early voters in the heart of a large reliably Democratic middle class community.
And it is that voter base that was integral to Barack Obama carrying Shelby County in the 2008 Democratic Presidential primary even as Hillary Clinton carried the state that year.
As mentioned here Tuesday, the local Bernie Sanders campaign opens its Memphis HQ over the weekend.
Hillary Clinton headquarters in Memphis and Nashville are on the way soon with the Nashville HQ opening Thursday as the former President is in Whitehaven and the candidate is preparing for another television debate Thursday in Milwaukee with Sanders.
And early voting opened Downtown Wednesday.
The first day's turnout Wednesday was 177 early and absentee voters. Combined with another 645 absentee votes cast before the early voting period, that makes 822 early or absentee votes.
Another Republican contender on the ballot in Tennessee is out of the race. New Jersey Gov. Chris Christie dropped out the day after his dismal finish in New Hampshire. He did not have a slate of delegates on the ballot here.

11. Medical Center Apartments Sell for $9.7 Million -

810 Washington Ave.
Memphis, TN 38105

Sale Amount: $9.7 million

Sale Date: Jan. 29, 2016

12. Medical District Apartments Sell For $9.7 Million -

An apartment complex in the Memphis Medical Center has sold for $9.7 million.

Blair Tower LLC, an affiliate of Hyde Family Investments LLC, purchased the Blair Tower Apartments from Blair MCAP LLC, according to a Jan. 29 warranty deed.

13. Medical District Apartments Sell For $9.7 Million -

An apartment complex in the Memphis Medical Center has sold for $9.7 million.

Blair Tower LLC, an affiliate of Hyde Family Investments LLC, purchased the Blair Tower Apartments from Blair MCAP LLC, according to a Jan. 29 warranty deed.

14. iBank Tower Sells for $19.2 Million -

The iBank Tower, located at 5050 Poplar Ave., has sold for $19.2 million, and for the first time, the same owner controls both the iBank Tower and the nearby Clark Tower at 5100 Poplar Ave.

15. Make a Mess -

If you eat a plate of ribs at Charlie Vergos’ Rendezvous, you’re likely to walk away with messy fingers. You’re also likely to get messy at a new business in Overton Square, where sisters Anna Vergos Blair and Katherine Vergos Riederer have opened their kid-friendly creativity zone The Art Project.

16. Cash-Strapped Cities, Schools Say: 'Your Ad Here' -

CHICAGO (AP) – Seven vinyl banners draped this month along one of Chicago's most iconic bridges, advertisements some have dubbed "a visual crime" and "commercial graffiti," are reviving a debate about how governments raise money in tough economic times.

17. Here Comes the Sun: Memphis’ cut of the state’s solar energy plan -

The Sharp Manufacturing plant in Hickory Hill has always been a symbol as much as a working part of the city’s economic infrastructure.

The plant on South Mendenhall Road represents the city’s first truly international big business presence. It opened in 1978 after Japanese executives came to Memphis to negotiate directly with city leaders. And once the deal closed, a now-legendary picket line was thrown up by local union leaders. The picketing symbolized organized labor’s determination to have a voice in local economic development.

18. 100 S. Main to See Progress This Week -

The long development process and occasional setbacks that have come with filling what's been referred to as the giant hole on Main Street have taken several years to work through. But a new five-story mixed-use development is planned for the site - a project that was given the green light last year - and construction could begin as soon as early fall.

19. Parkway Picks Commercial Alliance -

Memphis-based Commercial Alliance Management LLC has been tapped to handle all new leases for a Downtown office portfolio that includes the Morgan Keegan Tower, Falls Building and Toyota Center.

Those buildings are owned by Jackson, Miss.-based Parkway Properties Inc., a real estate investment trust (REIT) that had contracted last fall with Trammell Crow Co. to lease the properties.

20. Archived Article: Real Recap - Blair Tower Apartments

Blair Tower Property Slated for Renovations

810 Washington Ave.

Memphis, TN 38105

Cost: $5.4 million

Borrower: Blair MCAP LLC

Lender: Capri Capital Finance LLC

Trustee: Chicago Title Insurance Co.

Prope...

21. Archived Article: Real - Multifamily Market Sees Mixed Results

Apartment Occupancy Low, Property Sales High

LANCE ALLAN

The Daily News

As low mortgage interest rates continue to drive single-family home sales in Metro Memphis, many apartment dwellers are abandon...

22. Archived Article: Real Recap - Construction Set to Begin on Kress Building

Construction Set to Begin on Kress Building

Three parcels

near Main Street

Cost: $4 million

Borrower: THG Main LLC

Lender: First Tennessee Bank NA

Trustee: Thomas F. Baker IV

Proper...

23. Archived Article: Daily Digest - Dunavant Finances

Dunavant Finances

Land for $20 Million

Dunavant Enterprises Inc. has financed 162.81 acres near Shelby Drive and Forest Hill-Irene Road for $20 million, according to The Daily News Public Records Database, www.memphisdaily...

24. Archived Article: Daily Digest - Blair Tower Apartments

Blair Tower Apartments

Sell for $7.6 Million

Blair MCAP LLC has purchased the Blair Tower Apartments at 810 Washington Ave. near North Dunlap Street for $7.6 million, according to The Daily News Public Records Databas...

25. Archived Article: Sycamore Rdg P.2 - By SUZANNE THOMPSON Chicago firm buys northeast Memphis apartments By SUZANNE THOMPSON The Daily News The Village of Sycamore Ridge, a 114-unit townhouse property located at 1945 Everetts Folly in Raleigh/Bartlett is now under new ownership. Capreit...

26. Archived Article: Real Briefs - Equity Inns Completes Sale of Two Gardenwood, a 152-unit property at 4787 Garden Grove Cove in the Raleigh/Bartlett area, sold May 7 for $4.7 million or $30,920 per unit. TVO Realty Partners, a limited partnership based in Chicago, purchased the pro...

27. Archived Article: Real Briefs - Mid-America <MAA Parkway Properties Inc. has purchased one office building and initiated a historic renovation of another office building in Downtown. Parkway bought the Falls Building, which has 11 stories and 150,000 net rentable square feet, f...

28. Archived Article: Memos - Dr. Monte Blair has joined Shelby State Community College as director of grants and contracts. He formerly was vice president for research and development at City College in Orlando, Fla. Blair has a doctorate degree from Duke University, a masters ...