VOL. 118 | NO. 204 | Tuesday, November 9, 2004
3955 E
Local Firm to Manage Germantown Collection
7810-7850 Poplar Ave.
Germantown, TN 38138
Cost: $8.7 million
Borrower: CH Realty III/Germantown LLC
Lender: Principal Life Insurance Co.
Trustee: C. Thomas Cates
Property: Germantown Collection at 7810-7850 Poplar
Ave. in phase two of Farmington Shopping Center. The property was sold by its
previous owner to a Texas-based holding company, which then bid out management
and leasing of the center.
The contract was awarded to Lurie
& Associates, the management arm of Memphis-based Ford-Lurie
Commercial Realty Associates.
Oct. 12 was the date the closing took place and we took
over management, said Ann King, asset manager with Lurie
& Associates. Everything has been great so far.
The center adds to Ford-Luries
portfolio of properties, which also includes Laurelwood,
Laurelwood Collection, Parkway Place Shopping Center
and the Seven Oaks Building.
Among the tenants in Germantown Collection are Chilis,
Blockbuster Video and Village Toymaker.
When things like this come across the pipeline, it
definitely perks our ears and we take an interest in it, King said.
3955 E. Holmes
Memphis, TN 38118
Cost: $23 million
Borrower: DCT Memphis Trade Center III LP
Lender: Bank One NA
Trustee: Charles S. Sanger
Property: Memphis Trade Center III near Holmes and
Getwell roads.
Vacant land in
Winchester/Hacks Cross
Cost: $4.6 million
Borrower: Yorkshire Sports LLC
Lender: U.S. Bank NA
Trustee: T. Mark Lee
Property: Vacant land in phase 29 of the Winchester/Hacks
Cross Planned Development.
43 acres in
Herons Ridge
Cost: $3 million
Borrower: G3 Land Co. LLC
Lender: InSouth Bank
Trustee: John Dollar
Property: 43 acres of vacant land in Lakeland slated
to become section B of Herons Ridge Subdivision.
Vacant land in
Winchester/Hacks Cross
Cost: $2.1 million
Buyer: Yorkshire Sports LLC
Seller: Belz Investco GP, Belz/South Bluffs Inc., Belz/HC Partnership
and Michael Lightman
Property: Vacant land in phase 29 of the Winchester/Hacks
Cross Planned Development.
Two lots in
Forest Hill Estates
Cost: $1.7 million
Borrower: Tabor Building Corp.
Lender: InSouth Bank
Trustee: John M. Dollar
Property: Two lots in Forest Hill Estates
Subdivision.
142.59 acres near
Horn Lake Road
Cost: $1.5 million
Borrower: Legacy Land Development LLC
Lender: First Tennessee Bank NA
Trustee: Thomas F. Baker IV
and Robert D. Hyde
Property: 142.59 acres on three parcels near Horn
Lake and Windsor roads.
2660 Spottswood Ave.
Memphis, TN 38114
Cost: $1.4 million
Borrower: Greater Hope Baptist Church Inc.
Lender: Evangelical Christian Credit Union
Trustee: T. Mark Lee
Property: Property at 2660 Spottswood
Ave.
Parcels in
five subdivisions
Cost: $1.2 million
Borrower: Bowden Building Corp.
Lender: Financial Federal Savings Bank
Trustee: John W. Montesi Jr.
Property: Parcels in five subdivisions: Concord
Estates, Mid-Summer Commons, Sycamore View Road Planned Development, River
Grove Estates and Shelby Woodlands.