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VOL. 126 | NO. 130 | Wednesday, July 6, 2011

Daily Digest

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$7.8 Million Loan Filed For Ridge Lake Doctor’s Office

VRF Building Partners LLC has filed a $7.8 million loan through Trustmark National Bank for 825 Ridge Lake Blvd.

The property is a 42,668-square-foot, four-story doctor’s office building built in 1974. It sits on 1.8 acres on the west side of Ridge Lake Boulevard, directly across the street from Ridgeway Loop Road. The property backs up to Interstate 240.

VRF Building Partners LLC bought the site from RME Associates in April 2004 for $8.2 million. The Shelby County Assessor of Property’s 2011 appraisal is $4 million.

The property also secures previous loans dated between December 2007 and June 2011 taken out by VRF Eye Specialty Group PLC and VRF Building Partners LLC. Those loans mature at various times, with the latest being June 20, 2015.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Smith Named Pres, CEO of UT Medical Group

Dr. J. Lacey Smith has been named president and chief executive officer of UT Medical Group Inc. succeeding Steven H. Burkett.

Smith has been UT Medical Group’s chief medical officer and executive vice president since 2008. He is a long-time faculty member at the University of Tennessee Health Science Center, where he currently serves as professor of medicine and most recently was interim dean for the College of Medicine.

“I want to thank Steve for his 30 years of service to UTMG and welcome Lacey to this new role,” said Dr. David M. Stern, UT Medical Group chairman of the board, executive dean for the University of Tennessee College of Medicine campuses, and dean of the University of Tennessee Health Science Center College of Medicine, in a statement. “Dr. Smith has a strong record of leadership and commitment to quality medical care in the community, and I am confident that he will build on the strengths of UT Medical Group as we adapt to an ever-changing health care environment.”

Smith is board-certified by the American Board of Internal Medicine with subspecialty certification in gastroenterology. After completing his residency in internal medicine and fellowship in gastroenterology at Baylor College of Medicine in Houston, he joined the faculty there. He joined UT Health Science Center in 1989.

– Taylor Shoptaw

First EV Charging Station at The Peabody Hotel

The city’s first charging station for electric vehicles is at The Peabody hotel.

The “Blink” brand charging station is one of dozens to be available in Shelby County under a six-state project funded by the U.S. Department of Energy.

The goal is 14,000 charging stations.

Memphis Mayor A C Wharton Jr. will update the Memphis project Wednesday, July 6, at The Peabody at 1 p.m.

Memphis in February became the fourth major city to join the project.

The project manager for the project is ECOtality, a San Francisco-based company.

ECOtality CEO Jonathan Read called The Peabody location “ideal.”

“With each charging station installation, we move one step closer to establishing the rich public charging infrastructure that will drive EV adoption in Tennessee and across the United States,” Read said in a written statement.

–Bill Dries

Education Realty Trust Sells Morrow, Ga., Apartments

Education Realty Trust Inc. – a Memphis-based developer, owner and manager of collegiate housing – has completed the sale of a Morrow, Ga., apartment community for $20.5 million.

Clayton Place, an 854-bed apartment complex, serves Clayton College and State University. CSU Foundation Real Estate II LLC acquired the property from Education Realty under a lease-purchase agreement after leasing the property from EDR since Feb. 1.

In April, Education Realty sold another non-core property – the 336-bed Collegiate Village in Macon, Ga. – to Macon State College Foundation Real Estate LLC for $7.5 million.

The net cash proceeds of $27.8 million generated from the sale of the two properties will be used for working capital needs.

EDR is a self-administered and self-managed real estate investment trust that owns or manages 57 communities in 23 states with more than 33,500 beds within more than 10,500 units.

– Sarah Baker

Medical Group, SergeMD Launch Health Care Venture

The Medical Group PLLC is partnering with Memphis-based health care IT provider SergeMD to launch the NextGen ambulatory Electronic Health Record and Practice Management suite of solutions. SergeMD is a reseller of NextGen software that will handle the training, execution and ongoing support for The Medical Group.

The partnership with SergeMD is part of an ongoing commitment The Medical Group has to investing in the latest technology to enhance patient care and satisfaction.

The main purpose of utilizing the NextGen suite of solutions will enable The Medical Group to have information and records saved in a digital format ultimately eliminating the need for a clipboard. The NextGen suite can streamline clinical workflow, efficiently document patient encounters and will provide immediate and secure access to patient data.

SergeMD works with more than 400 physicians across the Southeast to help provide the best healthcare technology solutions. For more information, visit www.sergemd.com

NextGen Healthcare Information Systems, Inc., a wholly owned subsidiary of Quality Systems, Inc., is the leading provider of integrated clinical, financial and connectivity solutions for ambulatory, inpatient and dental provider organizations. For more information, please visit www.nextgen.com

– Houston Cofield

Leadership Memphis Announces Board Members

Leadership Memphis has announced new board members and officers for its new fiscal year.

The officers and executive committee include Eric Robertson, chair; Beverly Jordan, vice chair; Bryan Ford, treasurer; Veronica Coleman Davis, secretary; Chris McLean, immediate past chair; Jeff Gaudino, alumni chair; Christine Munson, development chair; Lemoyne Robinson, program chair; and Jeane Chapman, marketing chair.

The new board members include Cynthia Calhoun, Janice Crawford, Reggie Crenshaw, Douglas McGowen, Lori Patton, Jerry Redmond, Lirah Sabir, Patricia Smith, Stanley Sawyer, Brian Stephens, Mary Tate-Smith and Bobby White.

Returning board members are Dianne Berry, Denise Bollheimer, John Jackson, Chris Kelley, Hank Herrod, Steve Lykins, Richard Marsh, Mary McDaniel, Eileen McGinley, Paul Posey, Sharon Ryan, Joscelyn Shoptaw, Joyce Thomas and Regina Walker.

– Taylor Shoptaw

Summer Associates Chosen for Rainey Kizer

Rainey, Kizer, Reviere & Bell PLC has chosen four law students as 2011 summer associates.

This year’s group includes Samantha Bennett, William Christopher Frulla, Jordan Scott, and J. Austin Stokes. Bennett and Frulla will work as summer associates in the firm’s Memphis office, and Scott and Stokes will work in the firm’s Jackson, Tenn., office.

The summer associates work with the firm’s licensed attorneys by providing legal research and assisting in cases.

Bennett is a University of Memphis law student, where she ranks sixth in a class of 144. The Cordova resident previously earned bachelor’s and master’s degrees, both summa cum laude, at the University of Memphis.

Frulla also attends the University of Memphis Law School, where he ranks 15th in the class of 144. He has received a Dean’s Award for Excellence, has been selected for law review membership and was a moot court competition finalist as a freshman.

Scott attends the University of Alabama School of Law, where he is in the top 20 percent of his class and was recognized for Best Paper, Legal Research and Writing. He earned a bachelor’s degree, summa cum laude, from Union University.

Stokes is a student at the University of Mississippi School of Law where he ranks 19th in a class of 171. He is a member of the “Mississippi Law Journal” and received the Outstanding Student Award in Civil Procedure.

– Andy Meek

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
FORECLOSURE NOTICES 29 82 1,716
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700
BUSINESS LICENSES 28 151 3,584
UTILITY CONNECTIONS 33 172 4,155
MARRIAGE LICENSES 20 111 2,290

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