Memphis Grizzlies Suffer 15th Consecutive Loss

The Grizzlies lost their 15th straight game, 119-110 at Chicago, on Wednesday, March 7.

The team has not won since defeating the Phoenix Suns at FedExForum on Jan. 29.

2. Memphis-Based MAA Thriving As Demand for Rental Housing Grows - Saturday, May 27, 2017

Since it was founded by George Cates in 1977, real estate investment trust MAA has grown from an upstart local business into a S&P 500 company with more than 100,000 units and total market capitalization of $16 billion.

3. MAA Still Entertaining Headquarters Options - Wednesday, June 1, 2016

Memphis-based MAA is a year into its search for a new headquarters, and the company is moving closer to plans for a newly constructed building.

The real estate investment trust, which focuses on multifamily properties, first announced the move last summer. MAA is currently housed in nearly 43,000 square feet at 6584 Poplar Ave. in East Memphis. It is looking for an 80,000-square-foot space, with room to grow, to house its 200 local employees.

4. Earnings Season Roundup - Saturday, August 1, 2015

International Paper Reports Q2 Earnings Growth: International Paper reports its second-quarter net earnings grew while net sales for the quarter decreased slightly.

The Memphis-based company, which released its quarterly financial results Wednesday, July 29, said second-quarter earnings totaled $227 million, or 54 cents per share. That’s up from $161 million, or 37 cents per share, in second quarter 2014, but down from $313 million, or 74 cents per share, in first quarter 2015.

5. MAA Reports Surging Profits - Thursday, July 30, 2015

Mid-America Apartment Communities Inc. reported a banner second quarter highlighted by surging profits.

6. MAA Outgrowing Its East Memphis Headquarters - Wednesday, June 10, 2015

MAA has tapped Cushman & Wakefield/Commercial Advisors to explore its long-term corporate office needs.

The apartment-focused real estate investment trust says internal growth and the 2013 acquisition of Colonial Properties Trust means space at its East Memphis headquarters is getting tight.

7. Embassy Suites Memphis Sells for $24.8 Million - Tuesday, November 26, 2013

1022 S. Shady Grove Road
Memphis, TN 38119
Sale Amount: $24.8 million

Sale Date: Nov. 15, 2013
Buyer: 1022 South Shady Grove LLC
Seller: 1022 Shady Grove LLC
Loan Amount: $22.6 million
Loan Date: Nov. 15, 2013
Maturity Date: N/A
Lender: Great American Life Insurance Co.
Details: An affiliate of Chicago-based hotel asset manager Lodging Capital Partners LLC has paid $24.8 million for the Embassy Suites Memphis hotel at 1022 S. Shady Grove Road in East Memphis.

8. Performance Ranges Widely at Local Companies - Saturday, October 26, 2013

Here’s a snapshot of the recent performance of some of Memphis’ publicly traded companies – businesses that cast a shadow far beyond the Memphis city limits in industries including finance, package delivery and bioscience.

9. MAA: Merger Means Modest Job Growth - Friday, June 14, 2013

MAA expects modest job growth in Memphis from its merger with Colonial Properties Trust and believes its current headquarters can absorb any new employees that may arrive.

“We think there will be some job growth here I suspect by putting the combined corporate headquarters for the new company here but I would expect most of that would be lower-level management or clerical in nature,” said Eric Bolton, MAA CEO.

10. MAA Buying Colonial Properties Trust in Stock Deal - Monday, June 3, 2013

NEW YORK (AP) – Real estate investment trust Mid-America Apartment Communities Inc. is buying peer Colonial Properties Trust Inc. in an all-stock deal, expanding its presence in the South and Southwest portion of the U.S.

11. 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.

12. Multifamily Owner Defaults On $19.5M Loan - Friday, May 7, 2010

In what has become a common theme in the multifamily industry, another pair of large apartment complexes will be sold on the courthouse steps.

The Waterford Pointe Apartments at 5045 Airways Blvd. in Whitehaven and the Carrington Manor Apartments at 4805 Winchester Road in Oakhaven have been foreclosed, according to a first-run notice in today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

13. Wright Medical Buys Arlington Bldg. For Distribution Needs - Tuesday, November 10, 2009

11481 Gulf Stream Ave.
Arlington, TN 38002
Sale Amount: $1.6 Million

Sale Date: Oct. 29, 2009
Buyer: Wright Medical Technology Inc.
Seller: Covington Furniture Manufacturing Co.
Details:  Wright Medical Group Inc. has bought a 56,340-square-foot building at 11481 Gulf Stream Ave. near its Arlington campus to increase distribution capacity. Operating in the transaction as Wright Medical Technology Inc., the company paid $1.6 million for the building, which was completed in 1973 and sits on 4.29 acres near the intersection of Tenn. 385 and U.S. 70.

14. Commercial Real Estate Hangs on for Dear Life - Friday, March 20, 2009

The pulse of commercial real estate is barely detectable, but the fact that it’s still registering a beat is remarkable considering the trauma it’s suffered over the past year.

From March 2008 through February 2009, commercial sales in Shelby County declined 35 percent compared to the prior 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

15. Tight Credit Put Squeeze On ‘08 Commercial Real Estate Sales - Thursday, January 22, 2009

As with the residential sector, 2008 was a year to forget in commercial real estate, which suffered declining sales and endured a nationwide credit crunch throughout the year.

“The big storyline in ’08 was that lenders weren’t lending,” said Johnny Lamberson, senior vice president at CB Richard Ellis Memphis. “It put a real tightening on deals getting done. If deals weren’t highly leveraged, as the year went on it became harder and harder to get transactions closed because nobody was lending money.”

16. 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.

17. 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.

18. United Liquors Corp. Sells Parkway Village Warehouse - Tuesday, July 8, 2008

4009 Air Park Cove
Memphis, TN 38118
Sale Amount: $1.5 Million

Sale Date: June 30, 2008
Buyer: TCD Co.
Seller: United Liquors Corp.
Loan Amount: $11.2 million
Loan Date: June 30, 2008
Maturity Date: June 10, 2013
Lender: Columbus Bank and Trust Co.

19. 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.

20. Louisville Company Buys Apartment Complex for $41M - Tuesday, July 1, 2008

NTS Realty Holdings LP of Louisville, Ky., has bought the Colonial Grand at Shelby Farms apartment complex for $41 million. The transaction occurred in two separate warranty deeds – one for $25.2 million and one for $15.8 million – with an NTS Realty Holdings entity called Shelby Farms Apartments LLC acting as buyer.

21. Archived Article - Tuesday, July 3, 2007

2380 James Road
Memphis, TN 38127
Sale Amount: $4.9 million

Sale Date: May 1, 2007

Buyer: FPX Leasing II LLC

22. Archived Article - Tuesday, January 9, 2007

1715 Aaron Brenner Drive
Memphis, TN 38120
Sale Amount: $38.1 million

Sale Date: Dec. 11, 2006

Buyer: PKY Fund Memphis I LLC

23. Archived Article - Tuesday, April 18, 2006

Two loans for
Kirby Gate center
Loan Amounts: $5 million; $1 million

Loan Date (for both): March 28, 2006

24. Archived Article - Tuesday, December 13, 2005

Property near
Chambers Chapel Road
Cost: $35 million

Borrower: Levitt and Sons LLC

Lender: Regions Bank

25. Colonial Properties BuysShelby Farms Apartments - Wednesday, December 7, 2005
Colonial Properties Trust has acquired four multifamily properties, including Colonial Grand at Shelby Farms, from Schaedle Worthington Hyde Properties for $110.8 million. The properties, located in Tennessee and North Carolina, include 1,157 Class A

26. Archived Article: Warranty Deeds - Monday, July 15, 1996
7/15 jts warranty deeds Big property deals worth over $33 million in second quarter By JAMES SNYDER The Daily News The largest property sales in Shelby County totaled more than $33 million during the second quarter of 1996, with 12 deals filed in ex...