Wingate Inn Financed for $5.3 Million

Tirupati Inc. has filed a $5.3 million mortgage for Wingate Inn at 2270 N. Germantown Parkway through General Electric Capital Corp. The 101-room hotel is on 2.13 acres on the east side of Germantown Parkway south of Rockcreek Parkway.Tirupati purchased the then-vacant land in April 1997 for $779,456; the hotel was constructed in 1998.

Commercial Appeal Gets Slap on Wrist

The Newspaper Guild of Memphis celebrated a victory last week after a long-running labor dispute between its members, the Commercial Appeal and the paper's publishing company. J. Daniel Breen, a U.S. Magistrate Judge for the Western District of Tennessee, ruled that the paper must arbitrate employee grievances, some of which are related to work assignments and the suspension of an employee who's a union activist.

Breaking Up Is Hard to Do

Law firm Young & Perl PC, which has been Downtown for 30 years, is separating. Edward Young, as well as partners William Dougherty and William Levy, will join Baker, Donelson, Bearman, Caldwell & Berkowitz PC, with Young becoming a shareholder in that firm. Arnold Perl, with partners W. Stephen Gardner, Kathryn Pascover and Jeffrey Harrison, will become partners at Ford & Harrison LLP.

Home Sales Increase in Metro Memphis

Memphis-area home sales are up, according to statistics from the Memphis Area Association of Realtors' Multiple Listing Service. MLS listed 1,153 home sales in January 2006, compared to 937 homes sold at the same time last year. The average sales price of homes increased 14.3 percent from $150,400 in 2005 to $171,900 in 2006.