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VOL. 117 | NO. 186 | Tuesday, October 14, 2003

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4880 Tuggle Road

Kohls Purchases Land in Collierville


9.7 acres in

Gallina Centro

Cost: $2.3 million

Buyer: Kohls Department Stores Inc., a Delaware corporation

Seller: Gallina Centro LLC

Property: 9.7 acres of unimproved property in the Gallina Centro Planned Development in Collierville.


4880 Tuggle Road

Memphis, TN 38118

Cost: $19.7 million

Borrower: Industrial Development Board of the City of Memphis and County of Shelby

Lender: Northwestern Mutual Life Insurance Co., a Wisconsin corporation

Trustee: Robert J. Pinstein of Shelby County

Property: Industrial Development Board was grantor through borrower U.S. Industrial REIT for property at 4880 Tuggle Road.


Two lots in

Super 8 Subdivision

Cost: $4.2 million

Borrower: Motels of America, a Delaware limited liability company

Lender: iSTAR Financial Inc., a Maryland corporation

Trustee: Brooks R. Smith of Davidson County

Property: Two lots in the Super 8 Subdivision near Macon Road and McRee Street.


5.4 acres in

Bartlett Logistics Center

Cost: $4.1 million

Borrower: 64 Investments Partnership

Lender: Life Investors Insurance Co. of America, an Iowa corporation

Trustee: William M. Billips

Property: One 5.4-acre lot in Bartlett Logistics Center, Phase 2, near Wolf Lake Drive.


12.8 acres near

Poplar and Byhalia

Cost: $2.9 million

Borrower: SM Properties Collierville LLC, a Missouri limited liability company and affiliate of the beneficiary, Desco Financial LLC

Lender: Commerce Bank N.A., as administrative agent and collateral agent for Commerce Bank N.A., Union Planters Bank N.A. and Wells Fargo Bank N.A.

Trustee: Mid-South Title Corp.

Property: 12.8 acres near Poplar Avenue and Byhalia Road.


22.1 acres on

Highway 51 South

Cost: $2.9 million

Buyer: Wal-Mart Real Estate Business Trust, a Delaware statutory trust

Seller: Fabas Partnership, successor by merger to FABAS LLC

Property: 22.1 acres located at 5235 Highway 51 S. near Holmes Road.


7629 Biloxi

Millington, TN 38053

Cost: $1.3 million

Buyer: New Hiwassee Park Apartments Associates

Seller: Smith Investments

Property: 4.9 acres located at 7629 Biloxi in Millington, part of the Hiwassee Park Subdivision.


11660 Monterey Road

Eads, TN 38028

Cost: $1.2 million

Buyer: Andrew Smith

Seller: Alan I. Mandell and Linda M. Mandell

Property: 70.1 acres and improved property located at 11660 Monterey Road in Eads.


2644 James Road and

2720 Range Line Road

Cost: $1.1 million

Borrower: Memwal G & I Inc.

Lender: National Bank of Egypt, New York Branch

Trustee: Joseph B. Pitt Jr. of Nashville

Property: Two lots in the Range Line Subdivision, located at 2644 James Road and 2720 Range Line Road.


Nine lots in

Afton Grove

Cost: $1.1 million

Borrower: Mark Matthews Development LLC

Lender: SouthTrust Bank

Trustee: Ronald L. Hansen of Shelby County

Property: Nine lots in the Afton Grove Planned Development, Phase 1B.


7629 Biloxi

Millington, TN 38053

Cost: $1 million

Borrower: Smith Investments

Lender: InSouth Bank

Trustee: William C. Cole of Millington

Property: 4.9 acres located at 7629 Biloxi in Millington, part of the Hiwassee Park Subdivision.


PROPERTY SALES 56 289 2,908
MORTGAGES 55 226 2,009
BUILDING PERMITS 108 1,002 6,703
BANKRUPTCIES 42 248 1,225