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VOL. 118 | NO. 179 | Tuesday, October 5, 2004

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Recap has nine entries so far because I dont have a feature interview yet

FaxonGillis Prepares to Start Downtown Condos

2.58 acres near

Carolina Avenue

Cost: $8 million

Borrower: FaxonGillis Inc.

Lender: National Bank of Commerce

Trustee: Southland Associates Inc.

Property: 2.58 acres near Carolina Avenue and Kentucky Street.

According to Jerry Gillis, co-owner of FaxonGillis, construction should begin on the Carolina Lofts property by late October. Residences in the 72-unit multifamily residential development should be finished by July 2005.

Units in the development will range in price from $100,000 to $200,000, Gillis said.

He added that the development team is still working out the details of the project. However, the units will be similar in style to two existing residential developments already completed by FaxonGillis in the Downtown area, the Potters Lofts and Central Station Lofts properties. Units in the development will include a flex space feature.

The project, located near Carolina Avenue on Litty Court, will include both condominiums and townhouse units, Gillis said.

 

Five addresses on

Corporate Avenue

Cost: $5.3 million

Borrower: CRT-SFV LLC

Lender: GMAC Commercial Mortgage Corp.

Trustee: Mid-South Title Corp.

Property: Property at 1531, 1533, 1535, 1541 and 1543 Corporate Ave. near Interstate 240 and Millbranch Road.

 

21.23 acres near

Holmes and Malone

Cost: $5.1 million

Borrower: TruckPro Inc.

Lender: Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc.

Trustee: Jerome S. Grand

Property: 21.23 acres near Holmes and Malone roads.

 

42.6 acres near

Guffin Road

Cost: $3.2 million

Borrower: Chamberlain & McCreery Inc.

Lender: BancorpSouth Bank

Trustee: Larry A. Butler

Property: 42.6 acres near Guffin Road in Bartlett.

 

11.47 acres near

Winchester Road

Cost: $1.8 million

Buyer: Latting Road Partners LLC

Seller: Claude Caldwell Living Trust

Property: 11.47 acres near Winchester Road and Green Forest Cove in Germantown.

 

9368 Winchester Road

Germantown, TN 38138

Cost: $1.8 million

Buyer: Latting Road Partners LLC

Seller: Milton T. Schaeffer, individually and as trustee

Property: Property at 9368 Winchester Road near Green Forest Cove in Germantown.

 

Property near Winchester

and Old Getwell roads

Cost: $1.8 million

Borrower: Getwell Gardens GP

Lender: National Bank of Commerce

Trustee: Southland Associates Inc.

Property: Property near Winchester and Old Getwell roads.

 

Property near Macon

and Houston Levee roads

Cost: $1.7 million

Borrower: Tan-Rain Forest Plaza LLC

Lender: Community Bank DeSoto County

Trustee: David J. Johnson

Property: Property near Macon and Houston Levee roads.

 

Property near

Hacks Cross Road

Cost: $1.3 million

Borrower: Steele-Guiltner Inc.

Lender: Fidelity National Bank

Trustee: Robert Walker

Property: Property near Hacks Cross and Lowrance roads.

 

98.81 acres near

Collierville-Arlington

Cost: $1.2 million

Buyer: Mark Matthews Development LLC

Seller: David Miller LLC

Property: Three lots in the Rolling Hills Farm Subdivision, plus a 98.81-acre parcel near Collierville-Arlington Road.

 

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 73 155 19,728
MORTGAGES 95 170 23,084
FORECLOSURE NOTICES 4 11 8,315
BUILDING PERMITS 200 338 40,366
BANKRUPTCIES 50 122 13,226
BUSINESS LICENSES 14 23 6,160
UTILITY CONNECTIONS 0 52 13,048
MARRIAGE LICENSES 28 58 4,900

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