» Subscribe Today!
More of what you want to know.
The Daily News

Forgot your password?
TDN Services
Research millions of people and properties [+]
Monitor any person, property or company [+]

Skip Navigation LinksHome >
VOL. 121 | NO. 151 | Tuesday, August 1, 2006

Print | Front Page | Email this story | Comments ()

Five lots
in Enclave
Loan Amount: $15 million

     Loan Date:     July 18, 2006

     Maturity Date:     Aug. 31, 2007

     Borrower:     Duntreath Investments LLC

     Lender:     SunTrust Bank

     Details:     Five lots in phase one of Enclave Planned Development in Germantown. Duntreath Partners released claim in, or quitclaimed, the property to Duntreath Investments LLC July 18 for $478,000. North of Wolf River Boulevard and east of Forest Hill-Irene Road, Enclave phase one was approved in March for 62 lots on 22.67 acres. The loan is a revolving credit line, in which multiple loans can be made and paid back in varying amounts up to a certain limit.

Phase two
of Southwind Lakes
Loan Amount: $5.6 million

     Loan Date:     July 13, 2006

     Maturity Date:     July 13, 2013

     Borrower:     Pedcor Investments-2005-LXXIX LLC

     Lender:     Regions Bank

     Details:     Phase two of Southwind Lakes Apartments, also known as phase 30 of Buckingham Farms Planned Development, north of East Shelby Drive and east of Hacks Cross Road. Pedcor Investments-2005-LXXIX bought the 4.82-acre property July 12 from Pedcor Investments for $721,535. A second mortgage was filed through Pedcor Bancorp for $600,000. Southwind Lakes was approved for 276 apartment units; this portion of the property is slated for 76 units.

6015 Primacy Parkway
Memphis, TN 38119
Loan Amount: $2.3 million

     Loan Date:     July 7, 2006

     Maturity Date:     n/a

     Borrower:     Memphis Senior Living LLC

     Lender:     Column Financial Inc.

     Details:     Primacy Estates Assisted Living Community southeast of St. Francis Hospital and west of Ridgeway Road. Three-story, 37,000-square-foot building was built in 1997 and sits on 1.68 acres. Memphis Senior Living bought the property in April 2005 from Atria Primacy LLC for $1.9 million. Shelby County Assessor's 2006 appraisal was $3 million. Apartments are rented on a monthly basis, and rent includes on-site dining, according to Primacy Estates' Web site, www.primacyalf.com.

1761 E. Brooks Road
Memphis, TN 38116
Loan Amount: $1.3 million

     Loan Date:     July 18, 2006

     Maturity Date:     n/a

     Borrower:     DACO Corp.

     Lender:     First Capital Bank

     Details:     First mortgage for an industrial warehouse on 6.51 acres on the south side of East Brooks Road. One-story building is about 56,300 square feet, which includes warehouse, warehouse office and mezzanine space. The property is one of two Dwayne M. Gallaher conveyed interest in, or quitclaimed, to DACO in December 1986. Shelby County Assessor's 2006 appraisal was $1.6 million.

8225 Dexter Road
Cordova, TN 38018
Loan Amount: $1.2 million

     Loan Date:     July 13, 2006

     Maturity Date:     n/a

     Borrower:     Welch Investments LLC

     Lender:     Cadence Bank

     Details:     An open-end mortgage for Shops at Dexter Mills, a 14,400-square-foot, one-story strip shopping center on the south side of Dexter Road east of Germantown Parkway. An open-end mortgage is one in which the borrower can take out loans through the lender up to a certain amount. Welch Builders then quitclaimed the property to Welch Investments July 13. Shelby County Assessor's 2006 appraisal was $1.4 million.
The center was completed in December, and tenants began moving in during January, said Julia Thomas, bookkeeper for Welch Realty Co. Current tenants A Better Image Salon and Kitchen & Bath Solutions occupy a total 7,600 square feet. Four bays totaling 6,800 square feet are available.

Seven lots in
Sutton Place East
Loan Amount: $1.2 million

     Loan Date:     July 20, 2006

     Maturity Date:     n/a

     Borrower:     Neal Home Builders Inc.

     Lender:     First Tennessee Bank NA

     Details:     Seven lots in phase two of Sutton Place East Planned Development. The lots are among 14 Summit Homes LLC conveyed interest in, or quitclaimed, to Neal Home Builders Inc. July 20. South of Houston Levee Road between Macon and Pisgah roads, Sutton Place East phase two was approved in March 2005 for 82 lots on 19.67 acres.

PROPERTY SALES 61 61 6,453
MORTGAGES 46 46 4,081
BUILDING PERMITS 113 113 15,474
BANKRUPTCIES 19 19 3,289