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VOL. 118 | NO. 204 | Tuesday, November 9, 2004

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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.

 

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 331 19,904
MORTGAGES 80 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 35 231 13,335
BUSINESS LICENSES 28 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 21 94 4,936

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