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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 85 317 11,842
MORTGAGES 99 353 13,780
FORECLOSURE NOTICES 41 60 1,918
BUILDING PERMITS 304 784 24,948
BANKRUPTCIES 54 233 7,706
BUSINESS LICENSES 64 161 4,060
UTILITY CONNECTIONS 26 144 4,825
MARRIAGE LICENSES 17 65 2,609

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