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Editorial Results (free)

1. Michigan Investor Pays $7.5 Million for Hickory Hill Apartments -

5995 Waterstone Oak Way
Memphis, TN
Sale Amount: $7.5 million

Sale Date: June 11, 2015
Buyer: RoCo-Lakes LLC
Seller: RRE Waterstone Holdings LLC
Loan Amount: $6.2 million
Loan Date: June 11, 2015
Maturity Date: June 11, 2017
Lender: Keybank NA
Details: RoCo-Lakes LLC, a Michigan limited liability company, purchased two parcels comprising The Lakes at Ridgeway Apartments on June 11.

2. The Lakes at Ridgeway Apartments Sell For $7.5M -

RoCo-Lakes LLC, a Michigan limited liability company, purchased two parcels comprising The Lakes at Ridgeway Apartments on June 11.

3. The Lakes at Ridgeway Apartments Sell for $7.5 Million -

RoCo-Lakes LLC, a Michigan limited liability company, purchased two parcels comprising The Lakes at Ridgeway Apartments on June 11.

4. Events -

The Memphis Lawyers’ Chapter and University of Memphis Law Student Chapter of the Federalist Society will present a lecture by Wall Street Journal columnist and author John Fund titled “A Visitor’s Guide to an Alien Planet: Washington, D.C.” Wednesday from 11:45 a.m. to 12:45 p.m. in Wade Auditorium at the law school, 1 N. Front St. The event is free and open to the public.

5. Events -

Talk Shoppe will present “Speed Networking: Book Yourself on the Supersonic Flight to Referrals!” Wednesday from 9 a.m. to 10 a.m. at the Better Business Bureau, 3693 Tyndale Drive. For more information, call 482-0354.

6. Arbors Of River Oaks Sells for $16.3 Million -

An out-of-town company has pulled the trigger on the largest multifamily deal of 2010 with the $16.3 million purchase of the Arbors of River Oaks.

Trade Street Capital LLC of Miami bought the 191-unit Class B complex at 6369 Humphreys Blvd. in River Oaks from The Shoptaw Group of Atlanta.

7. Despite Slight Uptick, March Numbers Show Struggling Market -

Shelby County’s commercial real estate market is doing what it can to hold steady amid a crumbled economy.

March saw 53 CRE sales, a 4 percent increase from 51 sales in March 2009 and 61 percent increase from 33 in February, according to the latest information from real estate information company Chandler Reports, www.chandlerreports.com.

8. Tricky Market -

Because loan defaults are a common occurrence in this difficult financial climate, last week’s news that the 306-unit Preserve at Southwind Apartments had been foreclosed could easily be chalked up to a case of “another one bites the dust.”

9. Philadelphia-Based Investor Buys Waterstone Landing Apartments -

The Memphis multifamily market remains attractive to Resource Real Estate Inc., which has bought its second apartment complex here.