Hyde Capital Buys Two Apartment Complexes
Affiliates of New York-based Hyde Capital LLC have paid a combined $17.3 million for the Briar Club Apartments at 6339 Village Grove Drive in East Memphis and the Cinnamon Trails apartment complex at 6497 Knight Arnold Road in Hickory Hill.
An entity called Briar Club LLC paid $8.7 million for the 272-unit Briar Club Apartments in a March 7 special warranty deed from Briar Apartments LLC.
And an entity called Cinnamon Trails LLC paid $8.6 million for the 208-unit Cinnamon Trails apartment complex in a March 7 special warranty deed from Cinnamon Apartments LLC.
Built in 1985, the Class C, 210,336-square-foot Briar Club Apartments sits on 12 acres on the south side of Village Grove Drive east of Ridgeway Road. An alternate address is 6355 Briar Patch Lane. The Shelby County Assessor of Property’s 2013 appraisal was $6.5 million.
And built in 1989, the Class C, 180,648-square-foot Cinnamon Trails sits on 11 acres on the south side of Knight Arnold Road between Ridgeway Road and Kirby Parkway. The assessor’s 2013 appraisal was close to $6 million.
In conjunction with the purchases, Briar Club LLC filed a $7.7 million multifamily deed of trust and Cinnamon Trails LLC filed a $7.2 million multifamily deed of trust, both through Arbor Commercial Funding LLC.
Hyde Capital’s Tom Intrator signed both deeds as managing member of the respective borrowing entities. His company last year bought the 324-unit Autumnwood Apartments at the southwest corner of Kirby Parkway and Mount Moriah Road Extended for $13.5 million.
Source: The Daily News Online & Chandler Reports
– Daily News staff
Volunteer Mid-South Seeks Award Nominations
Volunteer Mid-South is seeking nominations through March 20 for its 38th Annual Spirit of Giving Awards. The organization will honor the area’s top volunteers at a recognition luncheon Thursday, April 10, at 11:30 a.m. in the ballroom of the Holiday Inn University of Memphis, 3700 Central Ave.
Categories for Spirit of Giving Awards include adult, large group, small group, senior citizen, board member, outstanding volunteer program and youth. Details and instructions for submitting nominations are available at volunteermidsouth.org.
First-place winners, except the youth winner, will receive $500 for the nonprofit agency served. The first-place youth winner will receive $250 for his or her education and $250 for the agency served.
– Don Wade
Norfleet Forum to Focus on Brain Development
A one-day forum titled “Early Brain Development and Function: Impact on Social and Health Outcomes” will be held March 20 from 7:15 a.m. to 3:45 p.m. at the FedEx Institute of Technology on the University of Memphis campus.
The event is part of the 2014 Norfleet Forum for the Advancement of Health, presented by the Urban Child Institute, the University of Tennessee Health Science Center Department of Preventive Medicine, the UTHSC Neuroscience Institute and the Community Foundation of Greater Memphis. The forum is open to the public, health care workers and researchers for a $25 registration fee.
In conjunction, a free Brain Awareness Night event will be held March 20 from 5 p.m. to 8 p.m. at the Urban Child Institute, 600 Jefferson Ave. The community discussion is designed to promote knowledge about brain development and its central role in child health and well-being.
Visit urbanchildinstitute.org/brain-awareness-2014 for more information on both events.
– Don Wade
Brooks Chalk Art Festival Thursday
A dip in temperatures and high wind Wednesday prompted the Memphis Brooks Museum of Art to postpone its Spring Break Chalk Art Festival to Thursday, March 13, starting at 10 a.m.
The free event is open to children and others who bring their own chalk to create works of art in the museum’s plaza.
Local artists will also be part of the festival, creating chalk works that honor artist Salvador Dali. The Brooks is featuring an exhibit on Dali through May 11.
The event will also feature live music and food, and shuttle bus service will from the Overton Square parking garage to the Brooks Museum.
– Bill Dries
Church Health Center Symposium Set for April
The 2014 Westberg Symposium, “Stronger Together: Partnerships in Health Ministry,” will be held April 24-27 at Whispering Woods Hotel and Conference Center in Olive Branch.
Faith community nurses, coordinators, clergy, chaplains, health ministers, health promoters and educators, and others involved in health ministry are encouraged to attend.
Rev. Shane Stanford, senior minister of Christ United Methodist Church in Memphis, will deliver the keynote address April 25 at 6:30 p.m.
For more information and registration costs, visit churchhealthcenter.org/westburg2014 or contact Leslie Harrison at 701-2258 or firstname.lastname@example.org.
– Don Wade
Medtronic Global Heroes Team Seeking Runners
The 2014 Medtronic Global Heroes team is now accepting applications from runners worldwide that have benefited from medical technology.
Up to 25 runners will be selected to represent their countries and receive a paid entry and travel package for themselves and a guest to the Medtronic Twin Cities Marathon or the Medtronic TC 10 Mile, to be held Oct. 3-5.
Since 2006, 184 runners representing 27 different countries have run the course.
Application information can be found at medtronic.com/globalheroes. The deadline is April 25.
– Don Wade
Farmers Market Taps Gorham as Coordinator
The Memphis Farmers Market has hired longtime board member Terre Gorham as market coordinator.
Gorham, who will continue working as editor of the Memphis Downtowner Magazine in addition to her part-time role with the farmers market, will work in tandem with Memphis Farmers Market director Allison Cook to direct, recruit, train, maintain and sustain the volunteer workforce needed to operate the Saturday markets and related activities and fundraisers.
Gorham will manage the 150 volunteers it takes to run a season-long Saturday market, overseeing approximately 300 volunteers over the course of the year. Gorham also will stand in as interim market director on an as-needed basis.
– Andy Meek
Tennessee Anti-Meth Bill Advancing in Senate
Tennessee Gov. Bill Haslam's anti-meth proposal is advancing in the Senate, but it's unclear whether his administration will be able to muster the votes to have it clear a House subcommittee.
The Senate Judiciary Committee on Tuesday evening voted 7-1 in favor of the measure to place greater restrictions on how many cold and allergy medicines containing meth precursors can be purchased without a prescription.
That vote came after the panel killed the companion to a rival measure with lesser restrictions on a 5-3 vote. That measure was the companion to the one advancing in the House, while the governor's bill has languished in the Civil Justice Subcommittee.
Haslam's measure would cap the annual amount of products containing pseudoephedrine that can be purchased at a 2 1/2 month supply, while the House bill would set that limit at an eight-month supply.
– The Associated Press
Senators Consider Supporting AG Election
Senate Minority Leader Jim Kyle says he may swing his support behind a proposed constitutional amendment calling for the popular election of the state's attorney general.
Republican Sen. Mark Green of Clarksville is also considering swinging his vote in favor of the resolution sponsored by Republican Sen. Mae Beavers of Mt. Juliet, which fell two votes short of a majority last month.
Beavers is seeking a re-vote on Thursday.
Under the state's constitution, the attorney general is appointed to an eight-year term by the state Supreme Court.
Kyle said the popular election of the attorney general could present the best opportunity for a Democrat to run a competitive statewide race. The only current positions elected by the entire state are the governor and the Tennessee's two U.S. senators.
– The Associated Press