10 S
Developer Refinances South Main Apartments
10 S. Main St.
Memphis, TN 38103
Cost: $7.9 million
Borrower: CTB LLC
Lender: Morgan Stanley Mortgage Capital Inc.
Trustee: Mid-South Title Corp.
Property: No. 10 Main Apartments on 0.26 acres at 10 S. Main St. near Madison Avenue.
Jay Hollingsworth, managing member of CTB, said the $7.9 million transaction is a refinance of the 112-unit, 16-story high rise.
Were just taking advantage of the low rates right now, Hollingsworth said.
He said the development was finished about three years ago, with construction costs totaling about $14 million.
Its the nicest thing in Memphis, rental-wise, he said, We only have one apartment available, which backs that up.
Hollingsworth has helped develop other Downtown properties, including the recently opened Ambassador Commons at 80 Vance Ave. Part of phase four of
Collierville Marketplace
Cost: $8 million
Buyer: Jason Crews Partnership
Seller: Hackmeyer-Loeb Joint Venture
Property: Part of Collierville Marketplace, phase four, near Market Boulevard and West Poplar Avenue. 10.57 acres near
Island Place East
Cost: $2.5 million
Borrower: Island Park LLC
Lender: First Tennessee Bank NA
Trustee: Thomas F. Baker IV
Property: 10.57 acres of vacant land near Island Place East, formerly known as Henning Street. 10.57 acres near
Island Place East
Cost: $1.3 million
Buyer: Island Park LLC
Seller: Wayne A. Christian
Property: 10.57 acres of vacant land near Island Place East, formerly known as Henning Street. 40 acres near Holmes
and Hacks Cross roads
Cost: $2.4 million
Borrower: Chapel Ridge Partners
Lender: Bank of Bartlett
Trustee: B.R. Hester
Property: 40 acres at Holmes Road near Hacks Cross Road, also known as Mid Summer Commons Planned Development South. 27.8 acres in
Rivercrest
Cost: $2.1 million
Borrower: Rivercrest LLC
Lender: BancorpSouth Bank
Trustee: Larry A. Butler
Property: 27.8 acres in section E of the Rivercrest Subdivision Planned Development. 75.3 acres
near Ellis Road
Cost: $2 million
Borrower: David Miller LLC
Seller: Hanover & Ratner
Property: 75.3 acres of vacant land near Ellis Road and the Rolling Woods Subdivision.
3667 Rhodes Ave. and 4183 Troost Road
Cost: $2 million
Borrower: Gateway Raleigh LLC
Lender: U.S. Bank NA
Trustee: Ann Peldo Cargile
Property: A tract of six lots, as well as 3667 Rhodes Ave. in the Rhodes Road Subdivision and the Raleigh Forest Apartments on 12.5 acres at 4183 Troost Road. 22.59 acres on
Houston Levee
Cost: $1.9 million
Borrower: Mark Matthews Development LLC
Lender: Trust One Bank
Trustee: George M. Klepper Jr.
Property: 22.59 acres on Houston Levee Road, to be developed into phase two of the Glen Lakes Planned Development. 1740 Cherokee Blvd.
Memphis, TN 38111
Cost: $1.5 million
Buyer: Cary Repka and Randy Repka
Seller: Moeby Realty Corp.
Property: Five lots and part of another lot at 1740 Cherokee Blvd. in section A of the Cherokee Commercial Center.