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VOL. 118 | NO. 129 | Tuesday, July 20, 2004

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8250 Poplar Ave

St. Georges School Makes Room for Growth

8250 Poplar Ave.

Germantown, TN 38138

Cost: $6.5 million

Borrower: St. Georges Independent School

Lender: St. Georges Episcopal Church, Germantown

Trustee: Scott K. Haight

Property: Property at 8250 Poplar Ave. near Dogwood Road and state Highway 57 in Germantown. The property currently is shared by St. Georges Episcopal Church and St. Georges Independent Schools.

According to Sarah Cowan, the schools director of public relations and publications, the school has purchased the property but will continue to cohabitate with the church for now.

The church has three years within which they have to relocate and build a new property, Cowan said. So whenever they relocate, the school will embark on a long-range plan of more than likely growing growing the school and doing some remodeling to accommodate the growth.

Cowan said no changes are planned until the church finds a property for relocation.

For all intents and purposes, for the next couple of years, the property will be used in the same manner by the church and by our school.


8250 Poplar Ave.

Germantown, TN 38138

Cost: $5.5 million

Buyer: St. Georges Independent School

Seller: St. Georges Episcopal Church, Germantown

Property: Property at 8250 Poplar Ave. near Dogwood Road and state Highway 57.


5015 Citation Drive

Memphis, TN 38118

Cost: $13.4 million

Buyer: Teachers Insurance and Annuity Association of America

Seller: Caleast Industrial Investors of Tennessee GP

Property: 36.9 acres at 5015 Citation Drive near Holmes and Malone roads.


2625 Mt. Moriah Road

and 4805 Summer Ave.

Cost: $8.4 million

Borrower: Storage Portfolio Bravo II LLC

Lender: The Prudential Insurance Co. of America

Trustee: Mark Lee

Property: 6.44 acres at 2625 Mt. Moriah Road and property at 4805 Summer Ave. near Avon Street.


600 Jefferson Ave.

Memphis, TN 38103

Cost: $4.2 million

Buyer: The Urban Child Institute

Seller: BlueCross BlueShield of Tennessee

Property: Property at 600 Jefferson Ave. near Neely Street.


1.59 acres in the

Villages of Bennington

Cost: $2 million

Borrower: Bennington Collection LLC

Lender: Community Bank, DeSoto County

Trustee: Douglas R. Beaty

Property: 1.59 acres of vacant land in the Villages of Bennington Planned Development.


Seven lots in

Hacks Crossing

Cost: $1.4 million

Borrower: Mark Matthews Development Co.

Lender: SouthTrust Bank

Trustee: Thomas R. Stephenson

Property: Seven lots in phase six of the Hacks Crossing Planned Development.


Several properties on

Winchester Road

Cost: $1.4 million

Borrower: Beruk Properties Inc.

Lender: Oakland Deposit Bank

Trustee: Crislip, Philip & Associates

Property: 4312, 4322 and 4330 Winchester Road and undeveloped land in the Winchester Arms Apartments Subdivision.


6477 Old Brownsville Road

Bartlett, TN 38134

Cost: $1.3 million

Borrower: Wellsgate LLC

Lender: BancorpSouth Bank

Trustee: Larry A. Butler

Property: 28.96 acres at 6477 Old Brownsville Road in Bartlett.


PROPERTY SALES 81 201 16,108
MORTGAGES 40 104 10,026
BUILDING PERMITS 130 336 38,272
BANKRUPTCIES 28 56 7,528