VOL. 133 | NO. 65 | Friday, March 30, 2018
Fogelman Properties Acquires N.C. Apartment Community
Memphis-based Fogelman Properties has acquired a 328-unit multifamily community in Raleigh, North Carolina, for $43.4 million.
Built in 1988, Lake Cameron Apartments was 95 percent occupied at the time of purchase and features one-, two-, and three-bedroom units ranging from $848 to $1,249 per month.
Fogelman acquired the property through a joint venture with New York-based DRA Advisors, which has resulted in the acquisition of 26 multifamily communities containing more than 8,800 with an aggregate value of more than $780 million since 2003.
“We are thrilled to further expand our longstanding partnership with DRA and add this high-quality asset to our local Raleigh portfolio,” Fogelman Properties CEO Rick Fogelman said. “As active investors and seasoned property managers with 30-plus years’ experience in the local market and more than 4,000 apartment homes in our DRA partnership, we look forward to continued growth across the Raleigh-Durham region and within our longstanding relationship with DRA Advisors.”
– Patrick Lantrip
Caissa Public Strategy Inks Deal in Clark Tower
Caissa Public Strategy has inked a new deal to occupy 5,086 square feet on the 17th floor of the Clark Tower in East Memphis.
“As our team continues to expand, we needed a space that could meet our growing needs,” said Brian Stephens, CEO of Caissa. “Clark Tower was the right choice for us because of the updated space and central location. We look forward to the continued growth of Caissa and our partnership with the Clark Tower team.”
The local marketing firm won’t be moving far, as it was previously located in the neighboring i-Bank Tower, which shares the same landlord, In-Rel Properties.
“When Caissa approached us with their vision for growth and expansion, we found a space that was a perfect fit at Clark Tower,” said Dale Bowden, senior property manager at In-Rel Properties. “Owning both towers gives existing and prospective tenants limitless options and flexibility.”
In addition to their Memphis headquarters, Caissa also operates an office in Washington, D.C.
In early 2017, Colliers International was awarded the leasing assignment for In-Rel’s 1.25 million-square-foot office portfolio, which includes Clark Tower, i-bank Tower, Lynnfield Office Park and 2400 Poplar Avenue.
Ron Riley, Colliers’ senior vice president of Office, and Laura Taylor, vice president of Office Leasing, serve as the portfolio’s primary leasing contacts.
– Patrick Lantrip
Bite Squad Expands Into Southaven
Restaurant delivery service Bite Squad has expanded into Southaven with the acquisition of local restaurant delivery service City-Spree.
Southaven marks the first city in Mississippi that Bite Squad will service, and it will offer delivery from nearly 100 local restaurants at its launch, including local favorites such as Maria’s Cantina, Kublai Khan, Akita Sushi & Hibachi Steakhouse, Lost Pizza Co., Mister P’s Buffalo Wings and Old Style Bar-B-Q.
Delivery is available within a 7-mile radius of participating restaurant partners.
Bite Squad has been working with the City-Spree team to transition their existing local operations to the Bite Squad platform.
Enhancements to the new service include a consumer app with live order tracking to keep customers updated on where their food is and when it will arrive; a live chat support team for real-time help; and fully uniformed, trained employee drivers.
The Southaven service will launch on Monday, April 2. Customers in the area can order Bite Squad seven days a week, between the hours of 10:30 a.m. and 10 p.m.
Orders can be placed on the Bite Squad app or website, bitesquad.com, and delivery fees will start at $2.99 in the Southaven area.
To celebrate the launch, Bite Squad is offering new customers in Southaven free delivery to try out the service. Residents can enter the code GREETINGSMS at checkout to get the discount.
– Andy Meek
Farm-to-Table Dinner April 17 To Benefit Farmers Market
Oxford Community Market, a nonprofit weekly farmers market in Oxford, Mississippi, will host a community fundraiser after it kicks off its 2018 season Tuesday, April 17, from 3 p.m. to 6:30 p.m. at the Old Armory Pavilion, 1801 University Ave.
Following the first market, six chefs from some of Oxford’s best restaurants are teaming up to host First Market Feast, a farm-to-table fundraiser dinner to benefit the market.
The mission of the 501(c)(3) organization is to improve access to fresh, healthy local food for shoppers with limited incomes.
The team of chefs behind First Market Feast includes Vishwesh Bhatt of Snackbar, Corbin Evans of Oxford Canteen, Joel Miller of Ravine, Nick Reppond and Heath Johnson of GRIT, and John Stokes of Tarasque Cucina.
“Ever since I was a little boy, farmers markets have played a huge role in discovering more about food and community,” Evans said. “My cooking style has always relied on the bounty of harvests at these markets and the camaraderie of shoppers, chefs and vendors has continued to inspire me to cook locally, seasonally and with pride for what our community produces.”
The event will feature local early spring produce, eggs, honey, meats and baked goods from Oxford Community Market vendors and will be served family-style at the market site.
Wine pairing for the dinner is provided by event sponsor Kiamie’s Wine and Liquor.
A pre-dinner reception starting at 6:30 p.m. will feature Cathead Vodka seasonal cocktails and appetizers. Tate Moore and Dave Woolworth of Kudzu Kings will provide music.
Dinner tickets are $75 per person, including wine. The meal begins at 7 p.m.
VIP tickets are $100 per person and include one dinner ticket, access to the VIP bar and live music pre-dinner, which begins at 6:30 p.m.
For tickets to the dinner or more information about the market and its programs, visit oxfordcommunitymarket.com or contact Betsy Chapman at 662-816-7413.
– Daily News staff
In-State Immigrant Tuition Bill Halted in Tennessee in House
A bill to offer in-state tuition for Tennessee public college students whose parents brought or kept them in the country illegally has stalled because House leadership won’t let it go forward, the sponsor said Wednesday.
Republican Sen. Todd Gardenhire said the bill has become a “political hot potato,” pointing out that the four major GOP gubernatorial candidates have said they oppose it, including House Speaker Beth Harwell.
Gardenhire took offense when U.S. Rep. Diane Black, another Republican candidate for governor, blasted the bill. She said, “Too many times, so-called conservatives get elected promising to fight against liberal policies, only to embrace them once in office.”
“I’m not only offended, but I’m very upset about that,” said Gardenhire, a Chattanooga lawmaker. “So, her day of reckoning will come when she comes to Hamilton County.”
The tuition bill only applies to students who spent at least three years in Tennessee high schools or home schooling before graduating or finishing GED testing.
A similar measure in 2015 passed the Senate, but died by a single vote on the House floor. The legislation died by one vote in a House committee last year. Voters have favored the change widely in polls.
In a contentious election year, the bill’s fate was further complicated by federal inaction to extend a President Barack Obama-era program offering a reprieve from deportation to thousands of young immigrants who were brought into the country illegally as children.
President Donald Trump has proposed a pathway to citizenship for 1.8 million young immigrants who currently could qualify for deportation protection, but in exchange he wants new legal immigration restrictions and $25 billion for border security. The plan has divided Congress.
The defeat of the Tennessee bill dealt a blow to the affected students who have frequented the Capitol complex, lobbying lawmakers and snapping photos with Republican Gov. Bill Haslam, who has said he supports the proposal because the state needs a trained workforce.
They lined up outside legislative committee rooms Wednesday, holding signs that read, “Give us a chance, give us a vote. #LetUsLearn.”
– The Associated Press