VOL. 127 | NO. 25 | Tuesday, February 07, 2012
Belmont Village Sells for $16.9 Million
Belmont Village-Memphis, a senior living community at 6605 Quail Hollow Road, has sold for $16.9 million to an Ohio-based real estate investment trust.
6605 Quail Hollow Road LLC, an affiliate of Health Care REIT, bought the 120-unit center from its Texas-based ownership group, Belmont Village Memphis LLC. In conjunction with the purchase, a $36.5 million loan was filed, listing Belmont Village Landlord LLC as the borrower, 6605 Quail Hollow Road LLC as the mortgagor and Health Care REIT Inc. as the lender.
Belmont Village-Memphis is a three-story, Class A senior living center built in 1999 on 3.8 acres at the southwest corner of Kirby Parkway and Quail Hollow Road. The Shelby County Assessor of Property’s 2011 appraisal was $8.5 million.
A lease was signed in conjunction with the purchase in which Belmont Village Tenant LLC will lease the property through January 2027 from five entities, including 6605 Quail Hollow Road LLC.
Publicly traded Health Care REIT Inc. invests in senior housing and health care real estate. As of Sept. 30, the last date for which HCR has released information, the REIT owned 898 properties in 45 states.
Source: The Daily News Online & Chandler Reports
– Daily News staff
County Forensic Ctr. Almost Finished
Shelby County’s new forensic center is on track to be completed towards the end of March.
The new center was designed by the firm brg3s, and Inman-EMJ Construction is serving as the general contractor. It was funded and built by the state of Tennessee, and it will be occupied and run by the county.
The center will replace the county’s current outdated facility. The expanded floor plan increases the size of examining rooms and separates services into specific components to increase efficiency and usability for the medical examiners, forensic pathologists, toxicologists and other forensic scientists.
– Andy Meek
Land Use Board Considers More Racquet Club Space
The Memphis-Shelby County Land Use Control Board will meet Thursday, Feb. 9, to review an application to add space at the 11.94-acre The Racquet Club of Memphis at Sanderlin and White Station roads.
Applicant Tennis Club of Memphis is requesting to add a tennis court, outdoor restrooms and concessions; to redesign a pool area; and to reduce the number of required parking spaces.
Also on the LUCB agenda is an application from Boyle Investment Co. for a two-year time extension to complete the 42.55-acre Avilla subdivision containing 15 lots for single-family dwellings at Reid-Hooker and Glen Birnham roads.
In addition, LUCB will respond to a request from Memphis Housing Authority/City of Memphis Park Services for revisions to a 26-acre, 10-lot Cleaborn Hope IV subdivision for townhouses and multiple-family dwellings.
Meanwhile, CAAP Inc. is asking for a special use permit to allow 50 multifamily homes for the elderly at the east side of North Seventh Street south of Wells Street.
Other agenda items include Memphis-Shelby Drive LLC asking LUCB for two contingencies relating to building a Fred’s Dollar Store in Hacks Crossing planned development; Memphis and Shelby County Office of Planning and Development requesting to adopt an amendment to the city-country Unified Development Code; Johnson Development Associates Inc. asking for a 113.5-acre aerotropolis planned development at Cherry Road and American Way Boulevard for warehouse and distribution use; and MTL Environmental LLC requesting a 54-acre wood chipping and processing operation at Knight and Getwell roads.
An ordinance to extend the boundaries of the city limits is on the agenda, assigning an annexation of Grays Creek area of Cordova to a council district.
The meeting starts at 10 a.m. Thursday at City Hall, 125 N. Main St.
– Sarah Baker
Latest Legislation Fizzles for Supermarket Wine Sales
The latest effort to allow wine to be sold in Tennessee supermarkets has failed for lack of a sponsor in the state Senate.
The Knoxville News Sentinel reports that Republican Rep. Jon Lundberg of Bristol had expected a better fate for his bill because it would require voters to approve supermarket wine sales in their city or county.
In Lundberg’s words: “Who could be against letting people vote?”
But David McMahan, a lobbyist for the Tennessee Wine and Spirits Retailers Association, argued that local referendums would allow big-box retailers like Wal-Mart and Costco to spend large amounts of money to spread what he called “misinformation.”
Lundberg said that while his latest effort has failed, there are still similar measures left over from last session that could be resurrected.
– The Associated Press
Urban Child Institute Event to Focus on Trauma Impact
The Urban Child Institute will host a luncheon featuring noted author Robin Karr-Morse Feb. 16 at noon at the University of Memphis’ University Center.
TUCI is a Memphis-based nonprofit consisting of a coalition of community researchers, strategists and practitioners dedicated to the wellbeing of young children in Memphis and Shelby County.
Karr-Morse’s visit will coincide with the release of her book “Scared Sick,” which focuses on the impact trauma and fear have on lifelong health. She’s the author of “Ghosts from the Nursery: Tracing the Roots of Violence,” which focuses on the potential for violence in children who have traumatic early childhood experiences.
Seating is limited and reservations are required.
– Aisling Maki
Rhodes to Host Lectures by Productivity Coach
Rhodes College will host a series of lectures Thursday, Feb. 9, through Saturday, Feb. 11, presented by Jason and Jodi Womack of The Womack Co.
Jason Womack will present “Ayn Rand and ‘Atlas Shrugged’ in the Business World” Thursday at 3:30 p.m. in Buckman Hall, room 309, on campus. Afterward, at 5:30 p.m., he will speak about his new book, “Your Best Just Got Better,” in the Blount Auditorium of Buckman Hall.
Jodi Womack will present a Women’s Business Social Thursday at 7:30 p.m. in Crain Reception Hall of the Bryan Campus Life Center on campus. The event will bring local women together for discussions focused on solutions, results and connecting.
Jodi Womack will present the lecture “How I Pulled off TEDxOjaiWomen” Friday, Feb. 10, at 9 a.m. in Buckman Hall, room 212. The lecture will discuss how to plan large events.
The two also will be on hand for book signings and discussions at locations around the city, including Thursday from 7 a.m. to 8 a.m. at Brother Juniper’s, 3519 Walker Ave.; Friday from 7 a.m. to 8 a.m. at Café Eclectic, 603 N. McLean Blvd.; Friday from 10:30 a.m. to noon at the Rhodes Bookstore; and Saturday from 10 a.m. to noon at the Starbucks at the corner of Poplar Avenue and Prescott Street.
– Taylor Shoptaw
Women in the Arts Focus of Aug. Events
A group in Memphis has announced a three-day event designed to give more exposure to women in the arts.
Women’s Theatre Festival of Memphis has scheduled more than 20 performances, workshops and readings Aug. 2-4 at venues in Midtown’s theater district. The group is accepting submissions from the 100 theatrical and dance companies in the greater Memphis area. Festival officials said they already have received inquiries from as far away as the United Kingdom.
The performances will be written or directed by women and be about women.
Details are at www.womenstheatrefestivalofmemphis.org.
– The Associated Press
Report: Large Donations to Charities on the Rise
Money donated by the nation’s most charitable people is starting to catch up with pre-recession giving. The Chronicle of Philanthropy reports Monday in its annual report of the nation’s most generous people that the top 50 donors made pledges in 2011 to give a total of $10.4 billion.
The donors gave a total of $3.3 billion in 2010, the smallest total since The Chronicle began tracking the biggest donors in 2000. A decade ago, the top 50 givers gave $12.5 billion.
– The Associated Press