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Editorial Results (free)

1. Judge Approves Sale Of Warren, Tulane Apartments -

Millennia Housing Development Limited’s $3 million bid to buy the Warren and Tulane apartments from a federal court receiver has been approved by District Judge Jon P. McCalla.

But McCalla is still working through a claim by Class A Security LLC, which was under contract with Foresite Realty Management LLC, the court appointed receiver, to provide security at the two complexes. Class A is seeking $158,784 in expenses and fees.

2. Judge Approves Sale Of Warren, Tulane Apartments -

U.S. District Judge Jon P. McCalla has approved Millennia Housing Development Limited’s $3 million bid to buy the Warren and Tulane apartments from a federal court receiver.

But McCalla is still working through a claim by Class A Security LLC, which was under contract with Foresite Realty Management LLC, the court appointed receiver, to provide security at the two complexes. Class A is seeking $158,784 in expenses and fees.

3. Warren, Tulane Complexes Find Buyer -

The court-appointed receiver in the Memphis federal court case involving Global Ministries Foundation has an offer to buy the Tulane and Warren apartment complexes owned by GMF.

Cleveland, Ohio-based Millenia Housing Development Ltd. has offered the receiver $3 million for both properties, according to court documents and a legal notice in the Tuesday, March 14, edition of The Daily News.

4. Airport Authority OKs Update to Design Plan -

Memphis International Airport leaders are moving forward with plans to consolidate all of the airline and retail operations to an updated Concourse B.

As a part of those modernization and consolidation efforts, the Memphis-Shelby County Airport Authority board of commissioners approved Thursday, Jan. 19, an amendment of AERO Systems Engineering Inc.’s jet bridge and aircraft parking utilization study.

5. Shelby County Foreclosures Remain at Historic Lows -

Over the last several years foreclosure activity in Memphis and Shelby County has reached historic lows. Year to date, foreclosures are down 23 percent from the same period of 2015.

The number of homes in foreclosure inventory, properties that have been foreclosed but not yet resold by the bank, has fallen drastically. At the end of 2008, there were 3,925 homes in foreclosure inventory; at the end of July, there were 2,070, a decrease of 47 percent.

6. Bank Seeks Receiver for Warren, Tulane Apartments -

The Bank of New York Mellon Trust Co. wants a federal judge to appoint a receiver for the Warren and Tulane Apartments owned by Global Ministries Foundation, citing “an appearance of fraud” by GMF in a memorandum filed with the call for a receiver.

7. Bank of New York Seeks Receiver for Warren and Tulane Apartments -

The Bank of New York Mellon Trust Co. wants a federal judge to appoint a receiver for the Warren and Tulane Apartments owned by Global Ministries Foundation citing “an appearance of fraud” by GMF in a memorandum filed with the call for a receiver.

8. AutoZone Among Top 10 Arts-Supporting Businesses -

AutoZone Inc.’s commitment to the arts has earned it a place in Americans for the Arts’ top 10 business partners.

9. AutoZone Named in Top 10 of Arts-Supporting Businesses -

AutoZone Inc.’s commitment to the arts has earned it a place in Americans for the Arts’ top 10 business partners.

10. Richmond Honan Buys Quince Centre for $10 Million -

6555 Quince Road
Memphis, TN 38119
Sale Amount: $10.4 million
Sale Date: March 7, 2014

11. Global Ministries Pays $12 Million for Serenity Towers -

An affiliate of Cordova-based Global Ministries Fellowship has paid $12 million for the Serenity Towers retirement center at 400 S. Highland St.

12. Shoppes at Misty Meadows Sells to Hariom Enterprise -

3810 Hacks Cross Road
Memphis, TN 38125
Sale Amount: $1.9 Million

Sale Date:Sept. 22, 2010
Buyer:Hariom Enterprise Inc.
Seller:The Bank of New York Mellon Trust Co. NA, as trustee for Morgan Stanley Capital I Inc. commercial mortgage pass-through certificates, series 2007-IQ14
Loan Amounts:$950,000; $760,000
Loan Dates:Oct. 8, 2010
Maturity Dates:Oct. 8, 2020; April 8, 2011
Lender:Landmark Community Bank

13. Hacks Cross Shopping Ctr. Sells for $1.9 Million -

Hariom Enterprise has bought a strip shopping center at 3810 Hacks Cross Road from The Bank of New York Mellon Trust Co. NA, as trustee, for $1.9 million, financing the transaction with $950,000 and $760,000 loans through Landmark Community Bank.

14. Colliers Takes On Tough Project -

A retail portfolio hit hard by the slumping economy has a new temporary owner and a new leasing/management team. Now those entities are charged with repositioning the assets so a buyer can step in and have a better shot at building long-term success.

15. Hacks Cross Center Sold Back to Bank -

The Shoppes at Misty Meadows, a two-parcel retail center at 3800 Hacks Cross Road in Southeast Shelby County, sold back to its lender Friday for $2.6 million in a substitute trustees’ sale. The seller was R. Spencer Clift III of the law firm Baker, Donelson, Bearman, Caldwell & Berkowitz PC.

16. Hacks Cross Center Foreclosed, to be Sold -

The Shoppes at Misty Meadows, a two-parcel retail center at 3800 Hacks Cross Road in Southeast Shelby County, has been foreclosed and will be sold in a substitute trustees’ sale, according to a notice that appears on Page 40 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

17. Some Bailout Firms Up Lobbying Spending in Q2 -

WASHINGTON (AP) - As Congress spent much of the last three months looking at ways to tighten regulations on financial institutions, some of the biggest recipients of the government's $700 billion bailout increased their spending on influencing legislators.

18. Treasury Sets Purchase Process for Bank Warrants -

WASHINGTON (AP) - The administration has established the process for determining the price for millions of stock warrants the government holds that represent the final ties many large banks have to the $700 billion bailout program.

19. 10 Big Banks Get OK to Repay $68B in Bailout Money -

WASHINGTON (AP) – The U.S. Treasury Department has approved 10 of the nation’s largest banks to repay $68 billion in government bailout money.

The department on Tuesday said the banks, which were not named, will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program created by Congress last October at the height of the financial crisis.

20. Bank Stock Offerings Weigh on Financial Shares -

NEW YORK (AP) – KeyCorp, which is among 10 major U.S. banks ordered by the government to raise more capital as a buffer against future losses, joined several other banks Monday in announcing public stock offerings.

21. Banks to Use Gov't Funds for Lending, Dealmaking -

NEW YORK (AP) - A number of financial institutions, including Capital One inancial Corp. and SunTrust Banks Inc., have announced they will receive funds under the Treasury Department's capital purchase program.