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VOL. 119 | NO. 127 | Tuesday, July 19, 2005

Boyle Finances Village Shops of Forest Hill

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The Village Shops
of Forest Hill
Cost: $17.8 million

     Borrower:      BIC-MTS Partners
     Lender:      New York Life Insurance Co.
     Trustee:      Ronald I. Feldman
     Property:      The Village Shops of Forest Hill, located on three lots in Germantown. The borrower, BIC-MTS Partners, is affiliated with Boyle Investment Co.
          According to Cary Whitehead III, senior vice president of Boyle and executive manager of BIC-MTS, the transaction marked a refinancing of the 12-year-old Germantown property.
          "It is a community shopping center anchored by Target, Schnucks, Marshalls, Malco and Old Navy, and the rest of them are general retail stores," Whitehead said. "(Boyle) built it. The Target store, the Schnucks and the Marshalls went through major renovations in 2004."
          Whitehead said Boyle is working on another retail project, Gallina Centro, which is currently under development near Poplar Avenue and Houston Levee Road. Current tenants include Kroger, Kohl's, Stein Mart and Pier 1 Imports.
          "(Gallina Centro) will be sort of the connection between Poplar and the new Carriage Crossing project, which is also on Houston Levee," Whitehead said.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 124 481 17,865
MORTGAGES 127 530 20,565
FORECLOSURE NOTICES 4 48 2,693
BUILDING PERMITS 195 891 36,836
BANKRUPTCIES 52 262 11,426
BUSINESS LICENSES 24 139 5,848
UTILITY CONNECTIONS 26 116 6,830
MARRIAGE LICENSES 26 133 4,049