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Editorial Results (free)

1. CRE Owners Look To Reap Rewards Of New Tax Cuts -

The start of the year enjoyed a flurry of commercial real estate sales and building permits, on the heels of federal tax cuts passed late last year that are expected to benefit CRE owners and possibly impact the number of new projects and sales announced this year.

2. Memphis Hilton Sale, New FedEx Hub Building Highlight Busy Week -

939 Ridge Lake Blvd.

Memphis, TN 38120

Sale Amount: $31 million

Sale Date: Jan. 3, 2018

Buyer: Linchris Hotel Corp.

Seller: Davidson Hotels and Resorts

3. Priam Purchases Primacy Parkway Property for $14M -

Nashville-based- Priam Capital has secured another East Memphis office property in a multimillion dollar deal.

In the deal, Priam Capital, doing business as Primacy III LLC bought the 130,000 square foot office building from Lone Star Funds doing business as LSREF2 Newtown for $14.1 million, according to a Jan. 9 warranty deed filed with the Shelby County Register.

4. Christmas Tree Prices Expected to Rise Amid Shortages -

SALEM, Ore. (AP) – Americans will pay more for pre-cut Christmas trees this year as shortages deepen from the country's top two producers, Oregon and North Carolina.

Joe Territo sells Oregon trees in San Jose, California. But he's becoming increasingly frustrated with rising costs, from the trees to labor. Territo says the only figure going down is profit.

5. Evolve Taps New Assistant Vice President -

Evolve Bank & Trust has tapped Michelle Latham as its new assistant vice president and operations manager of its payment processing solutions division. Latham has more than 12 years’ experience in the payment and banking industries. She joins senior vice president Betsy Bohlen, who is leading the expansion of Evolve’s Payment Processing Solutions Division. Latham has held leadership roles at Palm Desert National Bank, Switch Commerce and First American Payment Systems, most recently served as the vice president of sales and service for Lone Star Capital Bank in San Antonio. During her tenure, she directed the implementation of a new retail product line that increased low-cost core deposits by 15 percent and acquired new high-value accounts by 5 percent.

6. City, Bass Pro File Permits for Pyramid Renovations -

1 A.W. Willis Memphis, TN 38105

Permit Costs: $21.5 million; $7 million

Project Cost: TBA

Permit Date: Applied January 2013

Completion: TBA

Owner: City of Memphis

7. Cordova Presbyterian Plans to Build on Fay Road -

8707 Fay Road
Cordova, TN 38018

Permit Cost: $2 million

Permit Date: Applied March 2012

8. 100 Days of Improvement -

Memphis Mayor A C Wharton Jr. promised in his state of the city address Monday, Jan. 23, to push the traditional parameters of city government and address long-term problems like the number of Memphians living in poverty.

9. Herman Cain's Sudden Surge Powered by 9-9-9 Plan -

ATLANTA (AP) – If there's a policy star in the Republican presidential primary it may be Herman Cain's 9-9-9 tax overhaul plan. It has helped fuel the Georgia businessman's sudden surge in the GOP race. But behind the catchy slogan is a reality: Experts say it will raise taxes on some Americans.

10. Ramsey Hits Haslam, Wamp for Celebrities on Trail -

CROSSVILLE, Tenn. (AP) – Bill Haslam and Zach Wamp are drawing on the help of some prominent friends as they hit the trail for the last days of the Republican gubernatorial campaign in Tennessee.

11. Assisted Living/Alzheimer’s Facility Near Completion in Schilling Farms -

15 Schilling Bend Commons
Collierville, TN 38017
Loan Amount: $4 Million

Loan Date: Jan. 7, 2009
Maturity Date: Jan. 7, 2009
Borrower: Southridge Nursing LLC
Lender: Financial Federal Savings Bank

12. Pointe at Kirby Gate Sells for $3.7 Million -

The Pointe at Kirby Gate Assisted Living Community at 6480 Quince Road in East Memphis sold Jan. 22 for $3.7 million in a special warranty deed to LSREF Golden Property 26 (TN) LLC, an entity related to Lone Star U.S. Acquisitions, which lists a Montreal, Quebec, address on the deed.

13. Hedge Funds are Buying up Delinquent Mortgages -

Guess who holds your mortgage now? It's your friendly neighborhood hedge fund.

Dozens of hedge funds, private equity groups and other investors have plunged into the beaten-down mortgage market in recent months, buying tens of thousands of distressed loans and foreclosed properties around the country. They hope to profit from the woes of banks and other investors holding mortgages that have plummeted in value as home values sink and defaults soar.

14. Merrill to Sell Troubled Assets, Raise Capital -

NEW YORK (AP) - Merrill Lynch & Co., in a broad move to clean up its troubled balance sheet, said Monday it will sell a big slice of its toxic asset-backed securities and issue new stock to raise $8.5 billion of fresh capital.

15. CIT Group Exits Home Lending Businesses -

NEW YORK (AP) - CIT Group Inc. will sell its home lending business to Lone Star Funds for $1.5 billion in cash, plus $4.4 billion of assumed debt, in a move to exit the troubled mortgage arena and focus on its commercial finance operations, CIT reported Tuesday.