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VOL. 115 | NO. 184 | Tuesday, October 30, 2001

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Fogelman Management Group was awarded the management contract for Arbors River Oaks Apartments

Fogelman adds Arbors to portfolio

Fogelman Management Group was awarded the management contract for Arbors River Oaks Apartments.

Built in 1990, Arbor River Oaks is a 191-unit garden-style apartment community with an optimum location, company officials said.

With the Baptist East Medical Center located on one side and the prestigious River Oaks subdivision located on the other, the location of this beautiful property cant be beat, said FMG president Jeff Kelly.

We look forward to working with the owner toward marketing their corporate efforts in order to better present this community to the many prospective residents that work in the immediate area.

The addition of Arbor River Oaks caps a busy growth period for the Memphis-based management company. FMG was awarded management contracts on seven properties consisting of 2,902 units since the beginning of the year.

The new properties are in Atlanta and Memphis, as well as a portfolio of three A+ communities in Indianapolis and Fort Wayne, Indiana.

Founded in 1963, FMG is a privately held, full service property management organization, focused entirely on the operations of multifamily real estate investments held by individual and institutional investors.

The firm manages more than 12,000 apartment units in markets throughout the Southeast and Midwest.

  CNL Net Lease Funding 2001 LP, a Delaware limited partnership, purchased property at 6201 Poplar Ave. at Shady Grove Road, site of the Steak & Ale restaurant, from CNL APF Partners LP, a Delaware limited partnership, for $1.5 million, according to a special warranty deed filed in the Shelby County Register's Office Oct. 19.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 307 21,073
MORTGAGES 82 330 24,691
FORECLOSURE NOTICES 0 27 8,637
BUILDING PERMITS 0 837 43,174
BANKRUPTCIES 63 240 14,142
BUSINESS LICENSES 17 75 6,476
UTILITY CONNECTIONS 0 114 13,625
MARRIAGE LICENSES 10 77 5,146

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