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VOL. 129 | NO. 235 | Wednesday, December 3, 2014

Daily Digest

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Greater Imani Church Buys Broadmoor Property

Greater Imani Baptist Church has purchased property from Broadmoor Baptist Church for $1.6 million.

Greater Imani acquired the Broadmoor property at 3824 Austin Peay Highway, according to a Nov. 3 warranty deed. Greater Imani filed a $2 million loan with Citizens Savings Bank and Trust Co. in conjunction with the purchase, according to a deed of trust filed the same day. William A. Adkins Jr., board president for Greater Imani, signed the deed of trust.

The purchase includes two parcels, a 21-acre vacant lot and a four-acre lot that includes two buildings and a parking lot. The Shelby County Assessor of Property’s 2014 appraisal of the properties was a combined $276,000. The Assessor lists the address for the two properties as 0 Austin Peay.

Source: The Daily News Online & Chandler Reports
– Amos Maki

Wunderlich Investment Taps New Finance Chief

Wunderlich Securities Inc. has a new chief financial officer at its holding company, Wunderlich Investment Co.

The Memphis-based investment firm has tapped Stacy Hodges as its new CFO. She brings two decades of financial services experience to the role, mostly with Dallas-based Southwest Securities. She also has a background in public accounting.

Hodges joined Southwest Securities in 1994 as controller, following nine years in public accounting with KPMG LLP. In 2002, she became Southwest’s executive vice president and chief accounting officer, then was promoted eight years later to CFO.

Hodges left Southwest in 2013 for Nationstar Mortgage, where she was named executive vice president and chief accounting officer.

In a statement about the hire, Wunderlich CEO Gary Wunderlich said Hodges’ “experience leading the finance areas of larger, publicly traded financial services firms will be tremendously valuable to support our firm’s strategic growth objectives over the next few years.”

– Andy Meek

Brook Chase Apartments Will Receive Upgrades

The Brook Chase Apartments in Germantown are about to get a makeover.

Memphis-based Fogelman Properties and New York-based DRA Advisors LLC, which teamed up this year to acquire the property for $31.1 million, plan on making significant upgrades to the 280-unit apartment community at 7865 Grove Court West.

The 46-acre complex, situated along Germantown Parkway south of Wolf River Boulevard, will be renamed The Retreat at Germantown.

Fogelman, which will manage the property, said plans call for improved landscaping, a fitness center and upgrading countertops, appliances, flooring, lighting and plumbing fixtures in the apartments.

– Amos Maki

Pickard Exploring City Council Run

Architect and planner Charles “Chooch” Pickard is undertaking an exploratory campaign for Memphis City Council District 5.

Pickard holds his first event Thursday, Dec. 4, to gauge support.

But Pickard, who is also on the Memphis Area Transit Authority board, will also be watching the developing race for Memphis mayor on the 2015 ballot in making his decision on the council race.

The District 5 seat is currently held by Jim Strickland. If Strickland runs for re-election to the council in 2015, Pickard would not challenge him. He would consider making the council race if Strickland instead decides to challenge Memphis Mayor A C Wharton Jr.

Strickland has said recently he intends to run for another term on the council. Before that, however, he had expressed some interest in the mayoral race.

Candidates in the 2015 city elections can start picking up qualifying petitions in April for the Oct. 8 election.

– Bill Dries

Excel Center Awarded Walton Family Foundation Grant

The Excel Center, a new charter high school that will serve adults 18 and older, has been awarded a $250,000 Walton Family Foundation grant for school startup. The Excel Center will begin classes in fall 2015 at 1490 Norris Road, site of the former Norris Road Elementary.

The center, which is being started by Memphis Goodwill Inc., will provide Shelby County adults the chance to return to school to earn a high school diploma and pursue post-secondary education or training. It will feature a learning environment geared to adult learners, life coaches, a free on-site drop-in center for students’ children, and college and career counseling.

“We are thrilled to be a recipient of a Walton Family Foundation grant, and are very grateful for the confidence the Foundation has placed in this unique education model,” said Tony Martini, CEO of Memphis Goodwill, in a statement. “We are looking forward to getting The Excel Center ready for opening next fall, and welcoming our first group of 350 students.”

The Shelby County Board of Education approved Excel Center to locate in the former Norris Road Elementary at its Nov. 25 meeting. Excel Center will stay at the location until its permanent space in the Sears Crosstown building is ready for occupancy.

– Don Wade

Fox 13 Names New General Manager

WHBQ-TV Fox 13 has a new general manager and is looking for a news director.

Cox Media Group has tapped Paul Briggs, an 18-year veteran of the media company, to be the new vice president and general manager at Fox 13. He comes to the station from Charlotte, N.C., where he was the general sales manager at WSOC-TV.

He’s also worked as general sales manager at Charlotte’s WAXN-TV and as an account executive at WSOC-TV. Briggs replaces John Koski.

Meanwhile, Cox’s executive vice president of television, Jane Williams, told The Daily News the company also is looking for a news director to succeed Ken Jobe at the Memphis station.

In a statement about Briggs’ new role, Williams said: “We are thrilled that we can tap such phenomenal internal talent like Paul for this important leadership position at one of our newest TV brands.”

– Andy Meek

Joerger Honored as Conference Coach of the Month

After leading the Memphis Grizzlies to the best record in the NBA to start the season (15-2), including a perfect mark against Western Conference opponents (11-0), head coach Dave Joerger has been named the Western Conference Coach of the Month for October/November 2014.

This marks the third career Coach of the Month honor for Joerger since he began his NBA head coaching career with the Grizzlies at the start of the 2013-14 season. He previously was honored as the Western Conference Coach of the Month in January and April.

The Grizzlies are the first Western Conference team to start a season 15-2 since the 2010-11 San Antonio Spurs, and their 11 consecutive wins over Western Conference opponents is tied for the second-longest winning streak by a West team against conference foes to start a season in the last 20 seasons.

Memphis has held opponents to the lowest scoring average in the league (92.4 points) and ranks third in points in the paint (47.1) and fourth in steals (8.3).

– Don Wade

PROPERTY SALES 57 94 2,713
MORTGAGES 16 37 1,820
BUILDING PERMITS 303 621 6,322
BANKRUPTCIES 138 138 1,115