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VOL. 119 | NO. 61 | Tuesday, April 5, 2005

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76

Mixed-Use Development Planned for Arlington

76.93 acres near

Highway 385

Cost: $2.8 million

Borrower: Commercial Ventures Inc.

Lender: Paragon National Bank

Trustee: Andrew H. Taylor

Property: A 28.91-acre parcel and a 51.03-acre parcel near Summers Road and Highway 385 in Arlington.

Greg Salyers, director of the land department for National Commercial Ventures, said the parcels are being developed for different uses.

(The smaller parcel) is going to be a new subdivision its zoned for it and then the other is zoned Highway Commercial, and were going to plot the land and sell individual sites, bring utilities to the land, Salyers said, adding that both parcels have been rezoned in the last three weeks.

NCV recently created its land division, adding a residential component to the commercial development company. Salyers is in Memphis this week to meet with banks and local builders about possible partnerships.

Before the commercial parcel can be developed, an access road must be built from Old Airline Road, Salyers said.

Were trying to build the site plan and say this is exactly what were going to do with it, he said. Were actually thinking about making it into a hotel, but I dont know how solid that will be.

 

4280 Hacks Cross Road

Memphis, TN 38125

Cost: $21.5 million

Borrower: Empirian Waterford LLC and Flushing Waterford LLC

Lender: Merrill Lynch Mortgage Lending Inc.

Trustee: Joseph B. Pitt Jr.

Property: 27.9 acres at 4280 Hacks Cross Road in Buckingham Subdivision.

 

32.2 acres near

Germantown Parkway

Cost: $20.7 million

Borrower: Cordova Apartments LLC

Lender: Wachovia Bank NA

Trustee: Mid-South Title Corp.

Property: 32.2 acres near Germantown Parkway and Trinity Road.

 

8341 Macon Road

Cordova, TN 38018

Cost: $18.5 million

Borrower: Empirian Cordova LLC

Lender: Merrill Lynch Mortgage Lending Inc.

Trustee: Joseph B. Pitt Jr.

Property: 19.39 acres at 8341 Macon Road in Cordova Park.

 

4.21 acres near

Wolf River Boulevard

Cost: $8.3 million

Borrower: LMP Wolf River II LLC

Lender: Western-Southern Life Assurance Co.

Trustee: Martin Simmons

Property: 4.21 acres near Wolf River Boulevard and Kimbrough Road.

 

2940 Hickory Hill Road Ext.

Memphis, TN 38115

Cost: $6.7 million

Buyer: I.S. Hickory Meadows LLC

Seller: Grant Investment LLC

Property: Hickory Meadows Apartments on 13.99 acres at 2940 Hickory Hill Road Extended.

 

2940 Hickory Hill Road Ext.

Memphis, TN 38115

Cost: $4.7 million

Borrower: I.S. Hickory Meadows LLC

Lender: Comerica Bank

Trustee: Mark E. Morrison

Property: Hickory Meadows Apartments on 13.99 acres at 2940 Hickory Hill Road Extended.

 

12.81 acres in the

Airport Industrial Park

Cost: $4.7 million

Borrower: ABP TN (Memphis) LLC

Lender: Column Financial Inc.

Trustee: Jerome S. Grand

Property: 12.81 acres near Pilot Drive in the Airport Industrial Park.

 

9085 U.S. Highway 64

Arlington, TN 38002

Cost: $4.1 million

Buyer: Arlington Guy LLC

Seller: Kisber Enterprises LLC

Property: A Walgreens store at 9085 U.S. Highway 64.

 

7750 Wolf River Parkway

Germantown, TN 38139

Cost: $5.6 million

Buyer: Summit Hospitality II LLC

Seller: ER Germantown Hotel Investors LLC

Property: Property at 7750 Wolf River Parkway.

 

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 61 17,604
MORTGAGES 68 68 20,494
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 183 183 35,999
BANKRUPTCIES 38 38 11,720
BUSINESS LICENSES 28 28 5,588
UTILITY CONNECTIONS 92 92 12,126
MARRIAGE LICENSES 25 25 4,382

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