First American, LandAmerica First American, LandAmerica join forces to eAppraiseIT Two titans of the title insurance industry have joined forces to create what they claim is the "nation's largest provider of real estate valuation services." The First American Corp. and LandAmerica Financial Group Inc. have entered into a joint venture, which will operate under the name eAppraiseIT, according to a recent announcement. The terms of the agreement call for LandAmerica to combine its OneStop appraisal production division with First American's eAppraiseIT division. First American will manage and hold a majority ownership in the new entity. LandAmerica will retain the OneStop name for its current portfolio of services and rely on eAppraiseIT to fulfill the appraisals. "This transaction will be immediately accretive to First American's earnings and will create economies of scale that will result in improved efficiency and profitability in our appraisal business," said Parker S. Kennedy, First American president. The two companies formed a similar venture in 2000 with the creation of Data Trace, a title technology company majority owned and managed by First American. First American said Data Trace has proven successful, outpacing its competitors with notable volume and margin increases in 2001. Data Trace holds the No. 1 position in the title plant automation market, the company said. University Apartment Associates LLC, a Tennessee limited liability company, financed $7 million through Mid-South Title Corp., on behalf of UBS Warburg Real Estate Investments Inc., a Delaware corporation, securing the loan with 26.2 acres containing the University Cabana Apartments at Vollintine Avenue and University Street, according to a trust deed filed May 31 in the Shelby County Register's Office. BHGG LLC, a Tennessee limited liability company, financed $3.7 million through BankTennessee, securing the loan with six acres at U.S. Highway 64 and Appling Road, according to a trust deed filed May 31 in the Shelby County Register's Office. HBG Real Estate LLC, a Tennessee limited liability company, financed $1.7 million through American Fidelity Assurance Co., securing the loan with the Allenburg Building at Gayoso Avenue and South Front Street, according to a trust deed filed June 3 in the Shelby County Register's Office.