VOL. 114 | NO. 247 | Tuesday, December 26, 2000
Three Memphis housing facilities for low-income elderly or incapacitated residents received a portion of $29
Three Memphis housing facilities for low-income elderly or incapacitated residents received a portion of $29.3 million in federal grants announced last week by the Department of Housing and Urban Development. Tennessee received $1.3 million in grants. New Wesley Highland Towers, 400 S. Highland St., will receive $142,558; the Diocese of Memphis Housing Corp., 108 N. Auburndale, will receive $91,108; and Wesley Madison Towers, 383 Madison Ave., will receive $296,810. The federal grants are designed to help more than 35,000 residents in federally supported housing receive health care, meals and other support services they need to remain living independently.
Co-owners and founders of Crye-Leike, Realtors, Harold Crye and Dick Leike, will address their 2,100 sales associates at the companys 24th annual kickoff meetings in January. The meetings in Memphis, Nashville and Chattanooga provide an opportunity to reflect on the companys sales performance and achievements, to kick off new programs and to present company awards of recognition. The annual meeting for the Memphis, Arkansas and Mississippi area begins at 8 a.m. Jan. 9 at the Marriott hotel, 2625 Thousand Oaks Blvd. Crye-Leike in Memphis has more than 1,100 associates in 17 branch offices in nine counties through the Mid-South region. The Nashville meeting is Jan. 16 and the Chattanooga meeting is Jan. 23.
Highwoods Properties Inc. has closed a new $300 million unsecured revolving credit facility with a group of 10 banks. The new facility matures in December 2003 and replaces the companys existing $450 million facility. The line carries an interest rate based on the companys senior unsecured credit rating, which is BBB/Baa2. Highwoods is a self-administered real estate investment trust that provides leasing, management, development, construction and other services for its properties and for third parties. Raleigh, N.C.-based Highwoods controls more than 1,800 acres of land in the Southeast and Midwest. In addition, Highwoods and Miller Global Properties have formed joint ventures valued at $412 million. One involves the contribution of 21 in-service office properties. Another is focused on developing four Highwoods properties. These ventures rank among the largest office property transactions in the nation this year.