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Editorial Results (free)

1. Construction Loan Filed To Develop Lamar Crossing -

2881 Lamar Ave.
Memphis, TN 38114

Loan Amount: $5.4 million

Loan Date: March 1, 2012

2. Construction Loan Filed for Lamar Crossing Apts. -

A $5.4 million construction loan has been filed for Lamar Crossing Apartments at 2881 Lamar Ave., a complex that in recent years has been held by a number of owners and the subject of multiple development efforts.

3. Lamar Crossing Apts. Changes Owners Again -

2881 Lamar Ave.
Memphis, TN 38114
Loan Amount: $3.5 million

Loan Date: Oct. 7, 2011
Maturity Date: n/a
Borrower: Lamar Apartments LP
Lender: Nessko TN LLC

4. Investors Buy Stalled Lamar Crossing Apartments -

2881 Lamar Ave.
Memphis, TN 38114
Sale Amount: $1.5 Million

Sale Date: May 11, 2011

5. Lamar Crossing Apts.
Sell for $1.5 Million
-

After sitting empty nearly four years following a 2007 groundbreaking, the formerly foreclosed Lamar Crossing apartments at 2881 Lamar Ave. finally have a new owner.

6. Lamar Crossing Slated for Auction Block -

More than three years after developers broke ground on Lamar Crossing, the end is finally in sight for the beleaguered apartment complex.

Arvest Bank of Oklahoma, the bank that reclaimed the property when it ran into financial problems, has commissioned Marcus & Millichap Real Estate Investment Services to hold an online auction for the 120-unit property.

7. 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.

8. New York Investment Company Buys Shelby Grove Apartments -

6320 Gillespie Road
Memphis, TN 38134
Sale Amount: $4.7 Million

Sale Date: Nov. 11, 2009
Buyer: Flynn Realty & Development Shelby Grove LLC
Seller: MAC LP
Details: The 98-unit Shelby Grove Apartments at 6320 Gillespie Road near Bartlett has sold for $4.7 million to Flynn Realty & Development Shelby Grove LLC of Syosset, N.Y.

9. Arvest Bank Reclaims Lamar Crossing for $5.5M -

Arvest Bank of Oklahoma has reclaimed the unfinished Lamar Crossing Apartments for $5.5 million in a Nov. 13 substitute trustees’ sale. The bank formally bought the complex from Donald Bourland and Lancelot Minor of Bourland, Heflin, Alvarez, Minor & Matthews PLC, who were appointed substitute trustees June 16.