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Belmont Village Sells for $16.9 Million; Sullivan Branding Moves to the Toyota Center in Downtown

Belmont Village Sells for $16.9 Million; Sullivan Branding Moves to the Toyota Center in Downtown

By Amalia Otet, Associate Editor Belmont Village, a Class A senior living community, recently sold for $16.9 million to an affiliate of Ohio-based Health Care REIT Inc. 6605 Quail Hollow Road purchased the three-story senior living center from Texas-based Belmont Village Memphis LLC. The 120-unit complex sits on a 3.8…

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French Quarter Suites to be Rebranded as Comfort Suites; Plans Move Forward for New Biotech Building at STCC

French Quarter Suites to be Rebranded as Comfort Suites; Plans Move Forward for New Biotech Building at STCC

By Amalia Otet, Associate Editor The French Quarter Suites at Overton Square in midtown is under contract to be purchased by two local businessmen, Rishi Chopra and Jay Kumar, who plan to renovate the vacant facility and brand the new hotel as a Comfort Suites, a member of Choice Hotels.…

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Grubb & Ellis Acquire Nursing Homes for $30 million; Kimberly-Clark to Open Southaven Distribution Center

Grubb & Ellis Acquire Nursing Homes for $30 million; Kimberly-Clark to Open Southaven Distribution Center

By Amalia Otet, Associate Editor Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT II, Inc. has recently completed, through one of its affiliates, the acquisition of two nursing homes in the greater Memphis area for nearly $30 million. The company acquired the one-story Parkway Health & Rehab Center from Tennessee…

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Morgan Keegan Deal Expected to Close During First Quarter of 2012

Morgan Keegan Deal Expected to Close During First Quarter of 2012

By Amalia Otet, Associate Editor Regions Financial Corp. has entered into a stock purchase agreement to sell Morgan Keegan & Co. Inc., its Memphis-based investment unit, to Raymond James Financial Inc., for $930 million. The transaction is expected to close during the first quarter, subject to regulatory approvals and customary closing…

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Hertz Investment Group to Enter Memphis market; EdR Acquires St. Louis Property for $28.45M

Hertz Investment Group to Enter Memphis market; EdR Acquires St. Louis Property for $28.45M

By Amalia Otet, Associate Editor Santa Monica, Calif.-based Hertz Investment Group LLC, a fully integrated national real estate investment company specializing in the acquisition, marketing and management of  properties throughout the country, recently announced plans to enter the Memphis market by acquiring five office buildings totaling 672,247 square feet, as part…

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South Main building to be redeveloped into affordable community; Joint venture buys Cordova multifamily for $21.9 million

South Main building to be redeveloped into affordable community; Joint venture buys Cordova multifamily for $21.9 million

By Amalia Otet, Associate Editor Minneapolis-based Artspace, a national nonprofit group thatworks to create, foster and preserve affordable live/work space for artists and arts organizations in cities across the country, has chosen Memphis for its latest project. The organization plans to buy and redevelop an old South Main building owned by…

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LNR Property Buys Memphis Multifamily for $17.1M; IberiaBank Opens New HQ on Poplar Ave.

LNR Property Buys Memphis Multifamily for $17.1M; IberiaBank Opens New HQ on Poplar Ave.

By Amalia Otet, Associate Editor An entity affiliated with LNR Property LLC, a market leader in commercial property development headquartered in Miami Beach, Fla., recently acquired an Oakwood temporary housing apartment complex, a 252-unit community located at 7455 Wolf River Blvd. [...]…

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Mid-South Community College to Name $9M Renewable Energy Center after Congressman Marion Berry; Serenity Towers at Midtown Memphis to Get Makeover

Mid-South Community College to Name $9M Renewable Energy Center after Congressman Marion Berry; Serenity Towers at Midtown Memphis to Get Makeover

By Amalia Otet, Associate Editor Mid-South Community College recently announced it will name its newest facility in honor of retired Congressman Marion Berry, as an acknowledgment of his efforts to direct more than $55 million to Eastern Arkansas for educational and [...]…

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Downtown Historic Building Redeveloped into Mixed-Use Community

Downtown Historic Building Redeveloped into Mixed-Use Community

By Amalia Otet, Associate Editor Henry Turley Co. is preparing to deliver a new mixed-use complex, the latest addition to its 214-unit portfolio known as the Downtown Memphis Flats. Downtown Memphis Flats consists of five unique properties, all situated on or near [...]…

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Elvis Presley Boulevard Could Benefit From $50M Revitalization Project

Elvis Presley Boulevard Could Benefit From $50M Revitalization Project

By Amalia Otet, Associate Editor Southland Park Gaming & Racing in West Memphis, Ark. has announced it will kick off a $10 million renovation project in December, as part of a plan to expand its gaming and hospitality facilities. Southland Park Gaming [...]…

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Education Realty Trust to Break Ground on Student Housing Adjacent to CU-Boulder

Education Realty Trust to Break Ground on Student Housing Adjacent to CU-Boulder

By Amalia Otet, Associate Editor Education Realty Trust Inc., one of America’s largest owners, developers and managers of collegiate housing, announced the closing of three deals including two acquisitions and one collegiate housing development, according to the Memphis Business Journal. EDR [...]…

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National Cotton Council of America to be Redeveloped into Apartments

National Cotton Council of America to be Redeveloped into Apartments

By Amalia Otet, Associate Editor The National Cotton Council of America headquarters on North Parkway is one step closer to being redeveloped into a multi-housing community. Standard Builders Inc., a Memphis-based company dealing with commercial and industrial construction, has filed a [...]…

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