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Editorial Results (free)

1. New Homes Constructed for Rental Properties -

Shelby County’s new housing market has drastically declined since the housing crisis of 2008. At the end of the first quarter, there were 932 homes in new housing inventory compared to 3,327 homes at the end of the first quarter in 2007.

2. MAA Closes Merger With Post Properties -

Memphis-based real estate investment trust MAA has completed its $4 billion merger with rival Post Properties Inc., creating a combined company with an equity market capitalization of about $11 billion and overall market cap of $15 billion.

3. MAA Closes Merger With Post Properties -

Memphis-based real estate investment trust MAA has completed its $4 billion merger with rival Post Properties Inc., creating a combined company with an equity market capitalization of about $11 billion and overall market cap of $15 billion.

4. Downtown Multifamily Properties Sold to REIT -

Alpha Residential Trust LLC, a Pittsburgh-based real estate investment trust, has purchased three multifamily buildings in Downtown’s South End. The properties include Printer’s Alley Apartments at 345 and 347 S. Front St. and Cabinet Shop Lofts at 436 S. Front.

5. Downtown Multifamily Properties Sold to REIT -

Alpha Residential Trust LLC, a Pittsburgh-based real estate investment trust, has purchased three multifamily buildings in Downtown’s South End. The properties include Printer’s Alley Apartments at 345 and 347 S. Front St. and Cabinet Shop Lofts at 436 S. Front.

6. 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.

7. 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.

8. Two Apartment Properties Sell for Combined $16.6M -

Los Angeles-based Latitude Management Real Estate Investors Inc. has unloaded two apartment communities in separate deals.

9. Two In-Rel Properties Fetch $16.8 Million -

6263 Poplar Ave. and
2670 Union Ave. Extended
Memphis, TN

10. ABF Freight Acquires Two Memphis Properties -

ABF Freight System Inc. appears poised to significantly expand its Memphis presence, but company officials aren’t saying it’s a done deal just yet.

11. EdR Finalizes Sale Of Two Properties -

Memphis-based EdR has completed the sale of two properties to separate companies for a combined $29.9 million, the company announced Wednesday, July 16.

The student housing development and management firm said the sale of Pointe West, a 480-bed community built in 2003 that is about two miles from the University of South Carolina, closed on July 1. The sale of The Reserve on South College, a 576-bed community built in 1999 that is about a half-mile from Auburn University, on July 14.

12. EdR Finalizes Sale of Two Properties -

Memphis-based EdR has completed the sale of two properties to separate companies for a combined $29.9 million, the company announced Wednesday, July 16.

The student housing development and management firm said the sale of Pointe West, a 480-bed community built in 2003 that is about two miles from the University of South Carolina, closed on July 1. The sale of The Reserve on South College, a 576-bed community built in 1999 that is about a half-mile from Auburn University, on July 14.

13. Board to Review Historic Properties -

The State Review Board will meet later this month to review Tennessee’s proposed nominations to the National Register of Historic Places, including the Picardy Place Historic District in Shelby County.

14. New Owner of Holmes Properties Files Loan -

The new owner of the Memphis Logistics I and II buildings at 5510 E. Holmes Road and 5540 E. Holmes Road has filed a $28.9 million loan on the properties.

15. Maryland REIT Buys Two Memphis Properties -

Affiliates of Hunt Valley, Md.-based real estate investment trust Omega Healthcare Investors Inc. have bought two Memphis properties for a total of $17.9 million.

16. Hotel REIT Transfers 3 Germantown Properties -

7750 Wolf River Parkway Germantown, TN 38138
9314 Poplar Pike Germantown, TN 38138
9320 Poplar Pike Germantown, TN 38138

17. Hotel REIT Transfers 3 Germantown Properties -

Austin, Texas-based hotel real estate investment trust Summit Hotel Properties Inc. has transferred three Germantown hotels to related affiliates for a combined $5.7 million.

18. Owner Files $1.1 Million Loan on Multiple Properties -

Steele-Guiltner Inc. has filed a $1.1 million loan on the Grimes Tire Pros businesses at 2421 Lamar Ave. and 4285 Hacks Cross Road.

19. Wolfchase Nissan, Honda Owner Files Loan on Properties -

The owners of the Wolfchase Nissan and Wolfchase Honda dealerships at 2956 N. Germantown Road and 2982 N. Germantown Road, respectively, have filed a $10.6 million loan on the properties.

20. Three Star Leasing Files Loans on Two Properties -

The owner of a pair of neighboring industrial facilities on Chelsea Avenue has filed two loans – a $1.7 million deed of trust and a $1 million line of credit – through IberiaBank on the properties.

21. Multifamily Owner Files New Loans on Properties -

The owner of two local multifamily complexes – Poplar Place Townhomes and Collier Village – has filed loans on the properties.

Both properties are owned by an anonymous out-of-town investor and managed by Newtown Square, Pa.-based GMH Capital Partners LLC.

22. Calif. Firm Finds Niche With ‘Premium Properties’ -

Investment firms nationwide are snatching up single-family real estate-owned (REO) properties, renovating and renting them, and then selling them to other investors.

This “house flipping” is seen as especially opportunistic in Memphis, where median asking prices are dwarfed by national averages and vacancies are widespread.

23. Highwoods Properties' Q1 Net Income Rises -

Highwoods Properties Inc.’s first-quarter net income was $16.7 million – up from $10.1 million during the same period last year – the Raleigh, N.C.-based real estate investment trust announced Wednesday, May 2, in its Q1 earnings conference call.

24. Weingarten Realty to Sell Two Industrial Properties -

Weingarten Realty Investors, a Houston-based owner, manager and developer of shopping centers, is preparing to sell its wholly-owned industrial portfolio – which includes two properties in Memphis – to New York-based DRA Advisors LLC for $382.4 million.

25. Parkway Properties Reports Net Loss of $137 Million -

Parkway Properties Inc. reported a net loss of $137 million for the year ended Dec. 31, compared to a net loss of $8.9 million for the year prior, as the company works to realign its investment strategy by exiting noncore markets, including Memphis.

26. Birch Tree Realty Merges with Hackmeyer Properties -

Thomas Murphree and the residential agents Birch Tree Realty Resources Inc. have joined forces with Hackmeyer Realty, owned and managed by Tanis Hackmeyer.

27. Ware Properties Building Dollar General in Raleigh -

Ware Properties LLC has filed a $912,000 construction loan through Sycamore Bank to build a Dollar General store at 3429 Ramill Road in Raleigh.

28. Highwoods Properties’ Q2 Funds Down to $45.8 Million -

Highwoods Properties Inc.’s second-quarter funds from operations was $45.8 million – down from $48.7 million during the same period last year – the company announced Thursday, July 28, in its second-quarter earnings conference call.

29. Fogelman Management Adds New Properties to Portfolio -

Memphis-based Fogelman Management Group has been awarded nine new management contracts totaling more than 2,400 units, increasing the company’s presence in Colorado, Georgia, Tennessee, Missouri and Kansas.

30. Experts Lower Estimate of Flood-Affected Properties -

Shelby County emergency responders have lowered their estimate of how many properties could be affected by a 48-foot crest of the Mississippi River at Memphis. The river is forecast to crest on May 11.

31. Memphis Firm Acquires Two Atlanta Properties -

Memphis-based Cypress Realty Holdings Co. has acquired two outparcels in the North Atlanta market.

32. Freeman Webb Acquires Two Memphis Properties -

Freeman Webb Investments Inc. has acquired two Memphis properties – the 116-unit Villages at Cypresswood, 4495 Horn Lake Road, and the 102-unit Lyons Ridge Apartments, 160 W. Person Ave., in South Memphis.

33. PILOTs Considered for Whitehaven Properties -

The Memphis Health, Educational and Housing Facility Board will consider granting payment-in-lieu-of-taxes (PILOT) status to a pair of apartment complexes at this week’s public meeting, set for Wednesday at noon in the board’s conference room at 65 Union Ave.

34. Highwoods Properties Acquires PennMarc Building -

Highwoods Properties Inc., operating as Highwoods Realty LP, has bought the PennMarc office building at 6401 Poplar Ave. for $14.5 million.

35. Foreclosure Notices Filed On Alexander-Owned Properties -      Ten first-run foreclosure notices have been filed on properties owned by Charles W. Alexander. The notices appear beginning on Page 29 of today's Daily News.
     SunTrust Mortgage Inc. is th

36. Two Matthews Bros. PropertiesSell at Foreclosure Auction -      Two properties tied to Mark S. Matthews were bought by INSOUTH Bank at a foreclosure auction last week after the borrowing entities - of which Matthews is president - defaulted on loans through INSOUTH.
  &

37. Roebuck to Auction 40 Midtown Properties -      Roebuck Auctions will auction more than 40 properties Dec. 4 at 11:07 a.m. at the Memphis-based company's auction gallery, 4932 Park Ave.
     Most of the homes are in the Midtown and Cooper-

38. Foreclosures Filed AgainstMark Matthews Properties -      Five first-run foreclosures have been filed against properties owned by Mark Matthews Development LLC, according to The Daily News Online, www.memphisdailynews.com. The notices begin on Page 37 of today's issue of The Da

39. Local Investor BuysTwo Commercial Properties -      Michael Lightman Sr. sold two properties on Riverdale Road just south of Tenn. 385 on Sept. 28. Tisano Riverdale LLC bought the property at 3518 Riverdale for $1.2 million, and Tisano Memphis LLC bought the property at 3

40. Barloworld SellsTruck Business, Properties -      Barloworld Truck Center Inc. sold its full-service truck center in Memphis, located on Fontaine Road and East Brooks Road, as well as its truck centers in Jackson, Tenn., Tupelo, Miss., and Jonesboro, Ark., and a body sh

41. Highwoods PropertiesAwarded Southwind Lease -      Highwoods Properties has been awarded a build-to-suit lease in the Southwind area by Comcast Corp.
     The 62,000-square-foot building will sit on a 6.3-acre tract of land at the corner of P

42. Florida Development Co.Buys 76 Midtown Properties -      WSG Development Co. of Miami Beach, Fla., has bought nearly 80 parcels in Midtown Memphis through several transactions totaling $11.6 million.
     Under the name WSG Memphis LLC, the compan

43. Strip Club Owner TransfersProperties to Nevada LLCs -      Charles G. "Jerry" Westlund Jr., the owner of several Memphis strip clubs, has transferred interest in several of his properties to limited liability companies registered in Nevada.
     The

44. Trammell Crow Buys PropertiesOn Air Trans, Brooks Roads -      Trammell Crow Co., a subsidiary of CB Richard Ellis Group Inc. (CBRE), has bought the Bellbrook and Space Center industrial parks and the Baker building - all on Brooks Road - and the Air Trans building on Air Trans Road

45. Parkway PropertiesBuys Renaissance Center -      PKY Fund Memphis I LLC, an affiliate of Jackson, Miss.-based Parkway Properties, recently bought The Renaissance Center for $38.1 million.
     The 212,515-square-foot, eight-story office bu

46. Town Square PartnersBuys Collierville Properties -      Town Square Partners has bought 12 parcels from the heirs of W.W. McGinnis for $1.8 million. The purchase was financed for $2 million through Patriot Bank of Collierville. The properties include Dee Larue Designs, Mitche

47. Parkway PropertiesExpands Memphis Portfolio -      Jackson, Miss.-based Parkway Properties Inc. plans to buy the Renaissance Center at 1715 Aaron Brenner Drive for an undisclosed amount, according to a story in the Memphis Business Journal.
    &

48. Highwoods Properties Plans $27 Million Project -      Highwoods Properties plans to launch a $27 million office building on its 10-acre campus at Poplar Avenue and Shady Grove Road.
     The company, which is based in Raleigh, N.C., is set to c

49. Developer Ford Beach Wrestles 'Silk Purses out of Sows' Ears' By Bringing New Life to Neglected Commercial Properties -

In East Memphis, an 11,500-square-foot retail center with few trappings and a basic design sits tucked between Houston's Restaurant and the Malco Paradiso cinema. It stands as a classic example of what real estate broker Ford Beach does best.

50. Auction Company To Sell Several Midtown Properties - Roebuck Auctions, a Memphis-based auctioning firm, will sell 33 Midtown properties at noon Thursday at 4932 Park Ave. Properties for sale include single family homes, duplexes, triplexes, four-plexes and five-plexes, a 16-unit apartment building and

51. Parkway Properties Inc.Sees Decline in Occupancy - Mississippi-based Parkway Properties Inc. has announced a decrease in its occupancy portfolio as of January 1. The rate dropped from 89.7 percent in December to 88.9 percent in January. The company attributes the drop to a tenant leaving a 46,000-squ

52. Farnsworth SellsIndustrial Properties - Net Magan LLC has purchased more than 30 industrial buildings and vacant parcels from Farnsworth Investment Co. for $78 million, according to deeds filed with the Shelby County Register of Deeds office through Aug. 26. The properties include a parcel

53. Underutilized Downtown Properties Await Development -

The 29-story Sterick Building at 8 S. Third St. was once the city's premier office building - and was the tallest structure in the region for several decades.

Today, the 350,883-square-foot building is vacant and faces the same plight of inactivity as nine other historic Downtown properties identified by the Center City Commission.

54. Parkway Properties BuysMemphis Office Development - Jackson, Miss.-based Parkway Properties Inc. has purchased Forum I, a 162,000-square-foot office development at 6750 Poplar Ave. The total purchase price of $21.17 million includes $1.92 million in closing costs, anticipated capital expenditures and

55. MAA AcquiresTwo Upscale Properties - Mid-America Apartment Communities Inc. has acquired two upscale apartment communities for $56 million. The acquisitions included Waterford Forest, a 384-unit community in Cary, N.C., and Boulder Ridge, a 478-unit community in the North Dallas/Fort Wo