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Editorial Results (free)

1. Last Word: Sunflowers, Poplar-Ridgeway TIF and Meet The Developer of The Bucc -

You wait for it all year but it always comes as a surprise when you see them by the side of the road beckoning with their bright colors and their solid stance on the horizon as early voters head for Agricenter in search of a bit of scenery before making their choices. The sunflowers – What did you think I was talking about? -- began blooming on Walnut Grove Tuesday, the first of two phases from more than 78,000 sunflower seeds planted at Agricenter. They last a few weeks and with the staggered plantings, the new crop should be in its full glory about a month from now. Please don’t pick the sunflowers. Agricenter has designated parking areas after you enter on Timber Creek Drive. Just follow the signs.

2. Fogelman Properties Buys N.C. Apartment Community -

Memphis-based Fogelman Properties has acquired a 328-unit multifamily community in Raleigh, North Carolina, for $43.4 million.

Built in 1988, Lake Cameron Apartments was 95 percent occupied at the time of purchase and features one-, two-, and three-bedroom units ranging from $848 to $1,249 per month.

3. Fogelman Properties Acquires N.C. Apartment Community -

Memphis-based Fogelman Properties has acquired a 328-unit multifamily community in Raleigh, North Carolina, for $43.4 million.

Built in 1988, Lake Cameron Apartments was 95 percent occupied at the time of purchase and features one-, two-, and three-bedroom units ranging from $848 to $1,249 per month.

4. Shelby Farms Draws $142 Million, 71-Acre Development -

Elmington Capital Group has submitted plans for a 71-acre senior housing, apartment and single-family development next to Shelby Farms Park. Dwell at Shelby Farms is a new $142 million development to be located on the north side of Raleigh-LaGrange Road near the intersections of Trinity and Fischer Steel roads.

5. Atlanta Developer Files $200 Million Germantown Mixed-Use Plan -

Atlanta developers have filed an outline plan with Germantown leaders for a $200 million mixed-use town village development on the 32-acre “Arthur tract” west of the Saddle Creek South retail center.

6. State Of The Suburbs -

With its central location, unparalleled access to major roads, rails, runways and rivers and low cost-of-living, it’s no surprise that Memphis and the surrounding area is a popular destination for corporate headquarters, national retail brands and major industrial centers.

7. State Halts City Board From Issuing Bonds -

The city of Memphis entity that sold $12 million in municipal bonds on behalf of Global Ministries Foundation has been told it can no longer conduct such business.

The Tennessee Housing Development Agency has temporarily de-authorized the Health, Educational & Housing Facility Board of the city of Memphis to sell bonds. The decision is related to the withdrawal of federal subsidies going to Global Ministries Foundation’s portfolio and a subsequent downgrading of those bonds as well as leadership changes at the Health & Ed Board.

8. State Halts Memphis Health & Ed Board From Doing Business -

The city of Memphis entity that sold $12 million in municipal bonds on behalf of Global Ministries Foundation has been told it can no longer conduct such business.

The Tennessee Housing and Development Agency has temporarily de-authorized the Health, Educational and Housing Facility Board of the city of Memphis to sell bonds. The decision is related to the withdrawal of federal subsidies going to Global Ministries Foundation’s portfolio and a subsequent downgrading of those bonds as well as leadership changes at the Health & Ed Board.

9. City Council Votes On Graceland, Liberty Bowl -

The Memphis City Council approved the Graceland West planned development Tuesday, Dec. 15, the third phase of Graceland’s expansion to a 120-acre campus on both sides of Elvis Presley Boulevard.

10. City Council Votes On Graceland, Liberty Bowl -

The Memphis City Council approved the Graceland West planned development Tuesday, Dec. 15, the third phase of Graceland’s expansion to a 120-acre campus on both sides of Elvis Presley Boulevard.

11. City Council Ends Year With Busy Agenda -

The last Memphis City Council meeting of 2015 came with few speeches from departing council members and a crowded agenda as well as a few leftovers the new council will have to deal with. It was a mix of a new Beale Street lease, seat backs for some Liberty Bowl bleachers, parking meters and the next phase of Graceland's expansion.

12. Midtown Kroger Construction to Start -

With a few amendments by the Memphis-Shelby County Board of Adjustment Wednesday, Oct. 23, the new Midtown Kroger supermarket rolled out of the planning and zoning process and into preparation for demolition of the old Belvedere apartments building and construction of the new store.

13. $25M Retirement Center Slated for Bartlett -

A retirement community center will begin construction this summer in Bartlett, Resort Lifestyle Communities announced recently.

Robinwood Retirement Community – a $25 million, 141-apartment adult living community for people 55 and older – will offer a selection of studio, one-, two- and three-bedroom apartments and two-bedroom cottages, all of which include full kitchens, washer/dryer hookups, spacious living areas and ample storage.

14. Council to Hear Latest MCS Payment Pitch -

At the next-to-last meeting of the year, Memphis City Council members take up some complex financial and political matters.

For now they are discussing matters during committee sessions Tuesday that precede the main council session at 3:30 p.m. at City Hall, 125 N. Main St. An agenda is on page 10.

15. In-Rel Buys Former Comcast Building, Renames it “Quince Centre” -

6555 Quince Road
Memphis, TN 38119
Sale Amount: $5 million
Sale Date: Dec. 7, 2009

Buyer: 6555 Quince Building Owner LLC
Seller: BACM 2000-2 Quince Road LLC
Loan Amount: $3.1 million
Loan Date: Dec 7, 2009
Maturity Date: N/A
Lender: Insbank

16. Patton & Taylor Files Permits for 2 Projects -

Memphis-based general contractor Patton & Taylor Enterprises LLC has filed a pair of building permits – totaling close to $16 million – with the city-county Office of Construction Code Enforcement to begin construction on two projects in Westwood.

17. Sale of Lamar Crossing Could Be Closer to Reality -

Lamar Crossing’s long and winding road might finally be coming to an end, parties close to the beleaguered property said last week. But some legal wranglings still need to be worked out before the unfinished multifamily complex sees its first resident.

18. Pedcor Files Construction Loan For Ashland Lakes Phase II -

Address: 7660 State Line Road

Memphis, TN 38125

Sale Amount: $1.3 Million

Sale Date: May 13, 2008

Buyer: Pedcor Investments-2007-CVIII LP

Seller: Pedcor Investments

19. $16M Bid Chosen for Two Apartment Complexes -

Two Memphis apartment properties originally developed with low-income renters in mind - and whose cash-strapped owners filed for bankruptcy protection last year - appear likely to be snapped up soon by a private equity fund for $16 million.

20. Apartment Owners May Avoid Court-Enforced Sale with Reorganization Plan -

A federal bankruptcy judge has brokered a compromise in a complicated dispute between two cash-strapped apartment properties and an out-of-state bank.

Part of the solution called for the nonprofit group that owns the two properties - Cornerstone-Cameron & Stonegate Inc. - to submit a business reorganization plan. Should the bankruptcy court approve that plan, the apartments' ownership will avoid a bank-proposed sale of the properties and gain a chance to turn their finances around.

21. Law of Nature -

Hammered by falling occupancy rates and meager rental revenue, two Memphis apartment properties found themselves falling hopelessly behind on their debt payments.

For the last two years, the pair of jointly owned properties - Stonegate Apartments and Cameron at Kirby Parkway (also referred to as Autumnwood Apartments) - did not make any monthly debt payments under the terms of their bond arrangement. Meanwhile, the apartments also were spending a growing chunk of money on maintenance and other improvement needs that mounted during that time.

22. Charges of Default -

Depending on what a federal bankruptcy judge decides, two Memphis apartment properties struggling to make debt payments while trying to overcome insufficient occupancy rates and rental revenue may be put up for sale.

23. University Towers ForeclosureEnds With Last-Minute Sale -      The owners of nearly all the units in University Towers Condominiums barely avoided their property's sale at foreclosure by striking an 11th hour deal for its purchase.
     Arlington, Va.-ba

24. South Main Area Sees Continued Growth -

These days, the eyes of Memphis shoppers, developers, tourists, condo hunters and the film industry are all looking south - as in the South Main Arts District, by most accounts one of the most aesthetically and culturally distinct destinations in Memphis.

25. Fogelman and PartnerAcquire Atlanta Apartments - A joint venture that includes Fogelman Venture Partners VII LLC and a New York-based investment adviser has acquired the Cameron Landing Apartments in suburban Atlanta for $25.3 million. Rick and Mark Fogelman of Memphis-based Fogelman Properties are

26. Archived Article: Lead - Turgeon interview

More Condos to Join Downtown Mix

South Front project adds 34 units in growing arts district

LANCE ALLAN

The Daily News

As Downtown housing growth continues at a strong clip, another project is gearing up to join the ...

27. Archived Article: Lead - By Amy Oliver

Uptown Replaces Blight With Beauty

Newest project in area renaissance nears completion

AMY OLIVER

The Daily News

Development in a once-blighted community in Downtown Memphis is transforming the neighborhoods there into s...

28. Archived Article: Real Recap - University Tower Condos Sold for $3

University Tower Condos Sell for $3.7 Million

1387 Central Ave.

Memphis, TN 38104

Cost: $3.7 million

Buyer: Cameron LC

Seller: Larry V. Durham and wife, Merrel H. Durham

Property: 149 units in...

29. Archived Article: Apartments (lead) - Apartment projects

Multifamily Projects Get Under Way

Affordable housing strong as overall market awaits pickup

LANCE ALLAN

The Daily News

Construction on two multifamily projects totaling just over $16 million is set to begin in comi...

30. Archived Article: Uptown (lead) - Uptown

Hurt Village Transformation Under Way

Construction begins on Uptown Village Apartments

LANCE ALLAN

The Daily News

Revitalization efforts in the Uptown community are pushing forward. Work began last week on Uptown Village Apartm...

31. Archived Article: Real Focus - Real Estate

Ambassador Renovation Blends Old With New

LANCE ALLAN

The Daily News

A $1.8 million project that will combine a historic Memphis landmark with new construction is set to bring several new residential units to Downtown after t...

32. Archived Article: Apt (lead) - Lead

Apartment Market Continues Slow Rise

Minimal construction aids absorption

LANCE ALLAN

The Daily News

The improvement might be slight, but the Memphis multifamily real estate market continued to turn around in the second quarter, ...

33. Archived Article: Cornerstone Chg - By CAMILLE H Dallas company buys apartment properties By CAMILLE H. GAMBLE The Daily News Cameron at Kirby, a 324-unit apartment complex at 3094 Autumnwood Ave. in Southeast Memphis, and Stonegate, a 208-unit apartment complex at 4500 Stonegate Driv...

34. Archived Article: Real Briefs - 12/26 Real briefs SPL Corp. has represented the buyers of several multi-family properties in Georgia and North Carolina. Ron E. Cameron represented the buyers of Biscayne Apartments, a 370-unit property in College Park, Ga.; The Park at Lakewood, a ...