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VOL. 121 | NO. 78 | Tuesday, April 11, 2006

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8385 U.S. 64
Memphis, TN 38133
Sale Amount: $7.5 million

     Sale Date:      March 31, 2006

     Buyer:      Wolf Chase Partners LLC and Chrisafis Family LLC

     Seller:      Shoppes of Wolfchase LLC

     Details:      Shoppes of Wolfchase, a 34,600-square-foot neighborhood shopping center built in 2002. Tenants include Partyland, Buffalo Wild Wings and Cold Stone Creamery, among others. Shoppes of Wolfchase purchased the center in August 2003 for $6.3 million, financing it at that time for a little more than $5 million. Wolf Chase Partners has taken over payments on that mortgage.

Future phase 5 of
Village at Summer Meadows
Loan Amount: $4.5 million

     Loan Date:      March 17, 2006

     Maturity Date:      March 17, 2007

     Borrower:      Reeves Williams LLC

     Lender:      AmSouth Bank

     Details:      22 acres on the north side of Milton Wilson Road west of Airline Road in Arlington, to be known as phase 5 of The Village of Summer Meadows. Reeves Williams bought the property from Summer Meadows II LLC in June 2005 for $715,000.

5074 E. Shelby Drive
and 5094 Shelby Drive
Sale Amount: $2.8 million

     Sale Date:      March 28, 2006

     Buyer:     BNSF Railway Co.

     Seller:      William F. and Norma J. Pretsch

     Details:     Two parcels totaling 3.93 acres. The Pretsches bought the property in December 1990 from Capleville Baptist Church for $486,000. At that time, it contained a two-story stone church, two-story brick education building, metal gym and two frame houses. Mahaffey Tent and Awning Co. converted the buildings. The Shelby County Assessor in 2005 appraised the property at $649,500.

Properties on
Three Place and One Place
Loan Amount: $1.4 million

     Loan Date:      March 15, 2006

     Maturity Date:      April 5, 2013

     Borrower:      One Place Associates LLC

     Lender:      Summit Bank

     Details:      A 34,162-square-foot warehouse built in 1982 at 3378 One Place; a 18,671-square-foot warehouse built in 1980 at 3371 One Place; a 30,284-square-foot warehouse built in 1980 at 3365 One Place; and a 22,052-square-foot warehouse built in 1988 at 1525 Three Place. One Place Associates purchased the property in February 2005 from Memphis-One Place LLC for $1 million. All the buildings are in the 38116 ZIP code near Interstate 55 and East Brooks Road.

300-308 Poplar Ave.
Memphis, TN 38103
Loan Amount: $1.3 million

     Loan Date:     March 27, 2006

     Maturity Date:      April 10, 2012

     Borrower:     K and A Poplar Partnership

     Lender:      Regions Bank

     Details:      Construction mortgage for property near Poplar Avenue and Danny Thomas Boulevard. K and A bought the parcel in October 2004 from Poplar Tunes Property Inc. for $650,000. At the time of the sale, the property contained a 5,609-square-foot one-story metal building constructed in 1959 that appeared to be vacant.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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