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VOL. 110 | NO. 50 | Tuesday, March 12, 1996

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03-12 Real briefs RFS Hotel Investors Inc. recently announced that it has concluded the sale of its Ramada Inn in Lexington, Ky., to Bedlex Investment Partners Level I L.P. in Dallas. The sale price for the 178-room hotel was $4.15 million. The property was one of the original seven hotels owned by RFSI at the time of its initial public offering in August 1993. Mike Pascal, RFSIs chief financial officer, said the company believed the resources generated from the sale might be more strategically deployed elsewhere. RFSI is a Memphis-based real estate investment trust which owns 48 hotels consisting of about 6,600 rooms in 22 states. The Memphis Area Association of Realtors and the Kroger Co. will present the 14th annual Youth Villages 5K on April 13 at Ridgeway Center. More than 5,000 are expected to attend this year. The event also includes a one-mile Fun Run, a post-race party and childrens races and activities. Pre-registration entry fees are $12 for adults, $11 for members of Memphis Runners Track Club, $10 for students and $8 for children under 5. All entry fees are $15 on the day of the event. Last years run helped fund a major renovation that increased the residential programs capacity by 80 percent. Registration forms are available at MAAR headquarters at 6393 Poplar Ave. and the Youth Villages development office at 6471 Stage Road. For more information, call 386-6130. The Society of Industrial and Office Realtors and Appraisal Institute will meet Thursday from 11:45 a.m. to 1 p.m. at the Chickasaw Country Club. The speakers will be William A. Dunavant Jr. and James Heidel, who will address a proposed joint venture industrial park. The cost is $15. For reservations, call Kathy Taylor at 766-4244 or Margaret Burrows at 685-2100. AIA Memphis will meet at the Woodruff Fontaine Carriage House on Thursday beginning at 6:30 p.m. The meeting will include a panel discussion on historic preservation and future development. For reservations, call 525-3818.
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 280 1,209
MORTGAGES 55 244 916
FORECLOSURE NOTICES 8 52 151
BUILDING PERMITS 158 699 2,751
BANKRUPTCIES 37 157 618
BUSINESS LICENSES 12 77 276
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0