An entity called MRC Memphis LLC has paid $1.2 million for the Whitney Manor and Frayser Manor apartment complexes in Frayser, following a foreclosure of the properties.

2. Q3 Multifamily Occupancy, Absorption Rates Improve - Friday, October 9, 2009

The Memphis multifamily market fared well during the third quarter amid a difficult economy, as occupancy rates and absorption improved, according to the latest data from CB Richard Ellis Memphis.

3. ‘Hoops of Fire’ Squelch Commercial Real Estate Activity - Wednesday, September 23, 2009

The economy hasn’t extinguished commercial real estate deals, but it certainly has changed the way they get done.

Shane McElveen learned about the tedious process of property acquisition when he looked into buying the High Point Funeral Chapel at 3788 Summer Ave. in the Berclair area. McElveen, who had worked at the chapel as senior vice president, was trying to buy the business from owner G. David Keller.

4. Troubled Frayser Apartment Complexes Land New Owner - Tuesday, August 18, 2009

3081 St. Charles Drive
and 931 Frayser Blvd.
Memphis, TN 38127

Sale Amount: $2.2 Million
Sale Date: July 22, 2009
Buyer: Group 40 LLC
Seller: Whitney Frayser Manor Memphis LLC
Loan Amount: $1.5 million
Loan Date: July 21, 2009
Maturity Date: July 1, 2012
Lender: Madison Realty Capital LP

5. Foreclosed Apartments Find New Owner - Tuesday, August 11, 2009

The bank that bought the Whitney Manor and Frayser Manor apartment complexes in Frayser out of foreclosure has sold the properties to a Connecticut-based entity called Group 40 LLC. The $2.2 million sale closed in late July.

6. Multifamily Market Dominated By Foreclosure Sales - Thursday, May 14, 2009

Apartment complexes can be found throughout Memphis, but lately it seems the center of the multifamily world is on the courthouse steps Downtown.

Foreclosure sales have dominated the industry’s activity in Shelby County of late, with the most lucrative deals occurring as trustees’ deeds after the original owner defaults on a property or as bank sales after the lender reclaims and resells the property.

7. Neuvo Salon Files Permit For New East Memphis Location - Tuesday, May 12, 2009

5158 Wheelis Drive
Memphis, TN 38117
Permit Amount: $712,367

Project Cost: $712,367
Permit Date: Applied May 2009
Completion: March 2010
Owner: Neuvo Salon
Tenant: Neuvo Salon
Contractor: Construction Solutions LLC
Architect: Thoda and Associates PLLC

8. Frayser Apartments Sold Back to Bank - Thursday, May 7, 2009

The Whitney Manor and Frayser Manor apartment complexes in Frayser have been sold back to the bank that owned the note on them, Madison Realty Capital LP, for a combined $1.2 million following a foreclosure. Whitney Frayser Manor Memphis LLC, a local entity related to the lender, bought the properties April 6 from successor trustee Charles S. Sanger on the courthouse steps.

9. Frayser Apartments SoldTo Connecticut Investor - Tuesday, March 20, 2007
     Two Frayser apartment complexes have sold to a Connecticut investor for $2.6 million.
     Whitney Manor Apartments at 1520 Whitney Ave. and Frayser Manor Apartments at 931 Frayser Blvd. were