VOL. 119 | NO. 26 | Tuesday, February 8, 2005
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Kirby Gate Property Financed for $4.1 Million
2715-2725 Kirby Road
Memphis, TN 38119
Cost: $4.1 million
Borrower: 2715 Kirby Parkway LLC
Lender: UBS Real Estate Investments Inc.
Trustee: Security Title Co.
Inc.
Property: 2715 and 2725 Kirby Road near Kirby Gate
Cove. The property includes two single-story office buildings situated on 3.78
acres and is part of the Kirby Gate Business Center. The transaction marked a
refinancing of the property.
Capital Realty Services LLC took over leasing and management
of the buildings in June, according to Coleman OKeeffe, the companys president
and principal owner.
What weve done is weve built out new spaces as leases
have come, OKeeffe said. And its nice for a lot of tenants because it gives
them outside signage and sign exposure, visibility to Kirby, front-door parking
and easy access to Poplar Avenue and the (state Highway) 385 corridor.
Tenants include the Girl Scout Council of the Mid-South, The
Green Clinic, East Memphis Therapy and Volt Services Group.
OKeeffe said Capital Realty Services which is entering
its fifth year handles leasing and management of about 2.5 million square
feet of office space in Memphis, including properties in Lakecrest
Office Park and the Airport Business Park.
6.58 acres near
Bromley Lane
Cost: $4.4 million
Borrower: MAC LP
Lender: UBS Real Estate Investments Inc.
Trustee: Joseph B. Pitt Jr.
Property: 6.58 acres near Bromley Lane and Gillespie
Road.
6161 Shelby Oaks Drive
Memphis, TN 38134
Cost: $2 million
Borrower: 6161 Shelby Oaks LLC
Lender: Belz-Wilson Properties
Trustee: W. Joseph Aldridge
Property: 7.52 acres at 6161 Shelby Oaks Drive near
Interstate 40.
6161 Shelby Oaks Drive
Memphis, TN 38134
Cost: $1.9 million
Buyer: 6161 Shelby Oaks LLC
Seller: Belz-Wilson
Properties
Property: 7.52 acres at 6161 Shelby Oaks Drive near
Interstate 40.
Properties on Poplar Avenue
and Waldran
Boulevard
Cost: $1.9 million
Borrower: Serenity Recovery Centers Inc.
Lender: First Tennessee Bank NA
Trustee: Thomas F. Baker IV
Property: Property at 1080-1094 Poplar Ave. and
217-233 N. Waldran Blvd.
41.98 acres near
Reed Hooker Road
Cost: $1.5 million
Borrower: Wynestone
Partners
Lender: Renasant Bank
Trustee: Michael J. McCarver
Property: 41.98 acres near Reed Hooker Road and Glen Birnham Road.
27 lots in
Arlington Crossing
Cost: $1.2 million
Buyer: Creekside Homes LLC
Seller: Goodwin Henry
Properties LLC
Property: 27 lots in phase one, section B of
Arlington Crossing Subdivision.
15.05 acres near
Shelby Drive
Cost: $1.2 million
Borrower: Concord LLC
Lender: First Tennessee Bank NA
Trustee: Thomas F. Baker IV
Property: 15.05 acres near Shelby and Gertrude
drives.
34.27 acres in
Wilderwood Estates
Cost: $1 million
Borrower: David Miller LLC
Lender: Community Bank, DeSoto County
Trustee: Douglas R. Beaty
Property: 34.27 acres in Wilderwood
Estates Subdivision in Cordova.