South Parkway Property

Sells for $5.5 Million

Tennessee Property Associates LLC has purchased four lots at 200 South Parkway W. near Louisiana Street for $5.5 million, according to The Daily News Public Records Database, www.memphisdailynews.com.

U of M, First Tennessee

Form Recruiting Partnership

The First Tennessee Foundation and the University of Memphis are partnering to help the university recruit and retain faculty and to support economic and financial literacy programs. Launched with a gift of $100,000, the partnership is expected to provide $1 million over 10 years for a university professorships program and to bolster programming in the U of Ms Center for Economic Education.

Housing Affordability

Improves in Fourth Quarter

Housing affordability conditions improved by 2.9 percent in the fourth quarter from the same period in 2003, the National Association of Realtors reported. NAR's Housing Affordability Index was at 131.8, meaning the nation's typical household had 131.8 percent of the income needed to purchase a home at the fourth quarter median existing home price of $187,500.

Smith & Nephew Sees

Strong Orthopedics Growth

Smith & Nephews Memphis-based orthopedics division has announced that sales were up 17 percent for full-year 2004. Smith & Nephew chief executive Christopher O'Donnell said he expects the company's hip products to post strong growth in 2005 despite a general slowdown in U.S. demand.

Buckeye Technologies

Promotes Two Executives

Memphis-based Buckeye Technologies Inc. has announced the promotion of two officers. Jeffery T. Cook was named senior vice president, product and market development, and Douglas L. Dowdell was named senior vice president, nonwovens.