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VOL. 118 | NO. 171 | Tuesday, September 21, 2004

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Crompton Corp

Crompton Corp. Refinances Memphis Plant

Eight parcels near

Warford and Pope streets

Cost: $6.2 million

Borrower: Crompton Corp.

Lender: Deutsche Bank AG New York Branch

Trustee: Mark Lee

Property: Eight parcels near Warford and Pope streets. Crompton Corp.s Memphis plant is located at 1231 Pope St.

According to Debra Durbin, Crompton corporate spokeswoman, the transaction represents one property pledged in a refinancing package.

The Memphis plant is part of a loan agreement as collateral, Durbin said. For large chemical companies who take out secured loans, its not that uncommon to pledge property or real estate as collateral.

In 2003, the company added a glycerine-filling station to its Memphis plant, which makes chemicals used to produce personal care and plastic products.

Durbin said Crompton is undergoing a reorganization to increase efficiency. The company has announced a number of management changes in the past few months. However, she said the refinancing is not directly tied to the reorganization.

Its part of the overall strategy to focus on our core businesses and have more financial flexibility to make changes in businesses so that we can improve our performance, she said.

 

6060 Primacy Parkway

Memphis, TN 38119

Cost: $11.9 million

Buyer: Ridge Lake Properties LLC

Seller: ASP Lakecrest LLC

Property: Property at 6060 Primacy Parkway near Park Place Mall.

 

6060 Primacy Parkway

Memphis, TN 38119

Cost: $10.8 million

Borrower: Ridge Lake Properties LLC

Lender: HRPT Properties Trust

Trustee: Lawyers Title Insurance Corp.

Property: Property at 6060 Primacy Parkway near Park Place Mall.

 

96.88 acres

in Lakeland

Cost: $4.7 million

Borrower: Cool Springs Inc.

Lender: Bank of America NA

Trustee: Joseph B. Pitt Jr.

Property: 96.88 acres on Seed Tick Road in Lakeland.

 

6015 Primacy Parkway

Memphis, TN 38119

Cost: $3.3 million

Borrower: Atria Primacy LLC

Lender: General Electric Capital Corp.

Trustee: Michael N. St. Charles

Property: 1.68 acres and an easement at 6015 Primacy Parkway.

 

Seven office buildings

on Poplar View Road

Cost: $2.3 million

Buyer: Pro Memphis LLC

Seller: Peggy Lois Beale Evans and Berry V. Evans Jr.

Property: Seven office buildings at 336, 1125, 311, 319, 1196 and 328 Poplar View Road in Collierville.

 

Seven office buildings

on Poplar View Road

Cost: $1.9 million

Borrower: Pro Memphis LLC

Lender: The Peoples Bank & Trust Co.

Trustee: W.P. Mitchell

Property: Seven office buildings at 336, 1125, 311, 319, 1196 and 328 Poplar View Road in Collierville.

 

505 N. Germantown Parkway

Cordova, TN 38018

Cost: $2.2 million

Borrower: Duck Shack Real Estate Partners

Lender: Bank One NA

Trustee: Anthony Saunders

Property: Property at 505 N. Germantown Parkway in the Germantown Crossing Subdivision.

 

Land in Arlington

near Airline Road

Cost: $1.6 million

Borrower: Learning Tree Real Estate LLC

Lender: Metropolitan National Bank

Trustee: Stewart Title of West TN Inc.

Property: Property at the corner of Airline Road and Otto Lane in Arlingtons B-H Commercial Subdivision.

 

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 280 1,209
MORTGAGES 55 244 916
FORECLOSURE NOTICES 8 52 151
BUILDING PERMITS 158 699 2,751
BANKRUPTCIES 37 157 618
BUSINESS LICENSES 12 77 276
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0