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McNeill Commercial Starts Preparations for $150M M-U Development in Germantown; Independence Realty Trust Acquires Cordova’s Property

McNeill Commercial Starts Preparations for $150M M-U Development in Germantown; Independence Realty Trust Acquires Cordova’s Property

By Liviu Oltean, Associate Editor McNeill Commercial Real Estate recently acquired 19 acres of land in Germantown for the development of a $150 million mixed-use complex. The project, carrying the name Thornwood, will be located at the northeast corner of Neshoba Road and South Germantown Road, according to the Memphis…

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Oberdier Ressmeyer Entity Buys Cancer Center for Nearly $6M; Henry Turley Expands Apartments with $8.1M Investment

Oberdier Ressmeyer Entity Buys Cancer Center for Nearly $6M; Henry Turley Expands Apartments with $8.1M Investment

Memphis West Clinic LLC, an entity belonging to law firm Oberdier Ressmeyer LLP, recently purchased The West Clinic cancer center at 1580 Union Ave. and two vacant parcels for approximately $6 million. As reported by the Memphis Daily News, the seller was TN MS Owner DST, which had acquired the…

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South Main Artspace Lofts’ Repositioning Plan Moves Forward

South Main Artspace Lofts’ Repositioning Plan Moves Forward

Artspace, a longtime advocate for artist’s space needs turned developer, recently announced that it is ready to move forward with the long-awaited repositioning of the 87,625-square-foot brick South Main Artspace Lofts building at 138 S. Paul Avenue.…

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Dan Walker Proceeds with Plans in 7.6-Acre Business Park in Memphis; Tennessee Plans $70M Veterans’ Nursing Home for Shelby County

Dan Walker Proceeds with Plans in 7.6-Acre Business Park in Memphis; Tennessee Plans $70M Veterans’ Nursing Home for Shelby County

Memphis-based Dan Walker Associates Inc. is moving ahead with plans for the development of a new large office building park, according to the Memphis Business Journal.…

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Clinton National Airport’s Concourse Prepares for $20.6M Renovation

Clinton National Airport’s Concourse Prepares for $20.6M Renovation

In 2007, the Little Rock Municipal Airport Commission authorized a study to determine the feasibility of constructing a new terminal that would cater to projected passenger demands and regulatory requirements. The study showed that instead of building a new terminal, the demands could be better met through an extensive renovation…

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Cushman & Wakefield Arranges Bridge Loan for 1M SF Distribution Facility; New Student Housing Development Rising Next to University of Memphis

Cushman & Wakefield Arranges Bridge Loan for 1M SF Distribution Facility; New Student Housing Development Rising Next to University of Memphis

Cushman & Wakefield announced that its Equity, Debt & Structured Finance Group has recently arranged a $25.1 million bridge loan on behalf of PDC Memphis Oaks 3 Holdings, LLC, an entity managed by Panattoni Development Company. The loan will refinance the existing loan on Memphis Oaks 3, a 1,025,000-square-foot, Class…

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Hotel Equities Celebrates Reopening of 96-Room Courtyard by Marriott Memphis East

Hotel Equities Celebrates Reopening of 96-Room Courtyard by Marriott Memphis East

In recent news, Hotel Equities (HE) held a ribbon cutting ceremony to celebrate the reopening of the Courtyard by Marriott Memphis East, a recently renovated 96-room hotel. Owned by Batra Hospitality Group Inc., the asset was purchased for roughly $4.2 million in June, 2013. In December of the same…

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Apartment Complex Breaks Ground Next to University of Memphis; Germantown Welcomes New $4.1M Medical Office Building

Apartment Complex Breaks Ground Next to University of Memphis; Germantown Welcomes New $4.1M Medical Office Building

California-based Rael Development Corp. recently began the construction of an $8 million apartment complex near the University of Memphis. The company hired Montgomery Martin Contractors LLC to build the four-story complex, and has recently requested a $200,000 building permit for the laying of the foundation of the property.…

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Carroll Organization Purchases Memphis’ Largest Multifamily Community for $46.5 Million

Carroll Organization Purchases Memphis’ Largest Multifamily Community for $46.5 Million

Atlanta-based Carroll Organization has increased its Southeastern footprint with the acquisition of an off-market, multifamily portfolio composed of Colonial Village at Inverness in Birmingham, Al; Greenbrook in Memphis, TN; and Colonial Village at Charleston Place in Charlotte, NC. The three assets, totaling at approximately 1,800 apartment units, will be rebranded…

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Lone Star Funds Acquires Office Building for $53/SF; University of Memphis Launches $40M Campaign for New Music Center

Lone Star Funds Acquires Office Building for $53/SF; University of Memphis Launches $40M Campaign for New Music Center

Lone Star Funds, LP, a Dallas-based private equity firm, recently purchased the four-story Lakecrest III office building for $6.9 million, according to the Memphis Business Journal. Acquired from Management & Research LLC, the office building spans across 130,593 square feet, from which, 48,000 square feet aren’t leased.…

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Ole Miss Develops $69M Basketball Arena, U of Memphis Builds $62M Student Rec Center

Ole Miss Develops $69M Basketball Arena, U of Memphis Builds $62M Student Rec Center

Privately owned construction company BL Harbert International has announced receiving a $68.9 million contract to build the University of Mississippi Arena, the new home of the Ole Miss Basketball Teams.…

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Oakhaven Apartments Sold for $2.5M; Owner Files $22M Loan on Collierville Community

Oakhaven Apartments Sold for $2.5M; Owner Files $22M Loan on Collierville Community

Somerset Park Apartment Homes, a 496-unit apartment community in Oakhaven has been recently sold for $2.5 million…

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