VOL. 119 | NO. 162 | Thursday, September 8, 2005
Alliance RT Finances Apartment Communities
Alliance RT LP has financed the Waterford Pointe apartments at 5045 Airways Blvd. and Carrington Manor apartments at 4805 Winchester Road through Wachovia Bank NA for $21.3 million. Alliance bought the properties from Mid-America Apartments LP in 2000 for $23.5 million. The financing was part of a cross-collateralization loan not to exceed $550 million.
State Expedites Services to Hurricane Evacuees
Tennessee Gov. Phil Bredesen has signed an executive order enabling the suspension of regular laws related to Department of Human Services Families First assistance so one-time payments can be made to Hurricane Katrina evacuee families with children. About 15,000 evacuees are believed to be staying in cities and towns across Tennessee. In addition, the Federal Emergency Management Agency has established a toll-free hotline at (800) 440-6728 to accept public contributions of goods and services to assist victims.
FedEx Launches Overnight Link Between India, China
FedEx Corp. subsidiary FedEx Express has announced the launch of a new flight offering the first overnight express link between India and China. The flight is part of a new eastbound around-the-world route connecting Europe, India, China and Japan with FedEx's U.S. hub in Memphis. The move will double the company's current capacity between Europe and Asia.
Graceland to Donate Proceeds to Relief Effort
CKX Inc., which owns controlling interest in Elvis Presley Enterprises, has announced that 100 percent of the net proceeds collected Saturday from Graceland will aid the victims of Hurricane Katrina. The company also will donate all net proceeds from a Sunday American Idols tour performance to the relief effort.