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$157M Roxul Facility to Be Built; 2M Sq. Ft. of Industrial Property Sold

$157M Roxul Facility to Be Built; 2M Sq. Ft. of Industrial Property Sold

By Eliza Theiss, Associate Editor Rockwool International has officially announced it will be expanding its North American operations and building its first Roxul Inc. manufacturing facility in the U.S. near Memphis. The location for the approximately $157 million plant has been identified as Marshall County, Miss.—31 miles from the city.…

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Lincoln at Wolfchase Sold for $27.75M; Ike’s for $9.5M

Lincoln at Wolfchase Sold for $27.75M; Ike’s for $9.5M

By Eliza Theiss, Associate Editor The 408-unit Lincoln at Wolfchase Apartments in Cordova has been recently purchased for $27.75 million, or $66,789 per unit, reports the Memphis Business Journal. Irving, Texas-based investment management firm Archon Group LP, working under the name MLQ-ELD LLC, purchased the asset from Lincoln at Wolfchase…

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Fieldstone Apartments Prepares for Phase Three; International Paper Sells Three Mills

Fieldstone Apartments Prepares for Phase Three; International Paper Sells Three Mills

By Eliza Theiss, Associate Editor Developers are preparing to break ground on Fieldstone Apartments’ third phase, reports The Memphis Daily News.  Working under the name Fieldstone Apartments III Co., developers filed a $7.5 million building permit application with the city/county Office of Construction Code Enforcement. Fieldstone’s third phase will consist…

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Appling Lakes at Cordova Club Sold for $26.4 Million

Appling Lakes at Cordova Club Sold for $26.4 Million

By Eliza Theiss, Associate Editor Appling Lakes LLC of Salt Lake City has purchased the 312-unit Appling Lakes at Cordova Club apartment community from 27 tenant-in-common investors for $26.7 million. The sellers bought the property in 2005 for $26.9 million. The purchase was financed with a $19.9 million loan filed…

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$19.8M Redevelopment Planned for Chisca Hotel

$19.8M Redevelopment Planned for Chisca Hotel

By Eliza Theiss, Associate Editor Developers working under the name Main Street Apartments would like to turn the blighted historical landmark formerly known as the Chisca Hotel into a $19.8 million mixed-use development featuring ground floor commercial space. The upper floors would be turned into 149 apartments with an average…

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$200M Mixed-Use Retirement Development Planned for Munford

$200M Mixed-Use Retirement Development Planned for Munford

By Eliza Theiss, Associate Editor A mile out from Munford in Tipton County, there are 370 acres of farmland poised to be developed into The Village at Green Meadows, a master-planned community. Green Meadows Development Corp. is planning a $200 million mixed-use development consisting of a 55-and-over retirement community and…

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Office Buildings Go for $22.3M; Foreclosed Apartment Complexes Sold

Office Buildings Go for $22.3M; Foreclosed Apartment Complexes Sold

By Eliza Theiss, Associate Editor Four buildings in the Lenox Office Park have been bought by an affiliate of HighBrook Investment Management, with the deal closing on April 27. The New York based entity, working under the name Lenox Park C-F Owner LLC, paid $22.3 million for buildings C, D,…

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Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M

Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M

By Eliza Theiss, Associate Editor Waterford Place has been purchased for $21.475 million, or $67,093 per unit, by Winthrop Realty Trust via WRT-Waterford Place LLC, an entity affiliated with the Boston-based investment trust. Waterford Place, a 320-unit, Class A apartment complex, is situated on 27.9 acres at 8037 Waterford Circle…

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Villas at Cordova Fetches $19.3 Million

Villas at Cordova Fetches $19.3 Million

By Eliza Theiss, Associate Editor Villas at Cordova, an apartment home community in Cordova, Tenn., has been purchased by Los Angeles-based QVT Mount Auburn Capital LP for $19.3 million. Working under the name Memphis Villas LLC, the entity bought the property from GECMC 2006-C1 Prestine Loop LLC, an affiliate of…

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The Colonnade at Germantown Purchased for $23.1M; Cleaborn Point Breaks Ground

The Colonnade at Germantown Purchased for $23.1M; Cleaborn Point Breaks Ground

By Eliza Theiss, Associate Editor New York-based Sentinel Real Estate Corp. has purchased The Colonnade at Germantown for $23.1 million, or $91,666 per unit, in an online auction. Operating under the name VA Germantown LLC, Sentinel secured the 252-unit property at 7491 Wyndhurst Place far above the starting bid of…

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Ramada Inn Gets Makeover, Becomes Cedar Hotel

Ramada Inn Gets Makeover, Becomes Cedar Hotel

By Eliza Theiss, Associate Editor The former Ramada Inn at 1471 Brooks Road is getting a multimillion dollar facelift from a group of Chicago investors. According to The Memphis Daily News, Cedar Street Hospitality purchased the 245-key hotel in a 2010 auction for $1.55 million. Re-branded as the Cedar Hotel…

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Monmouth Acquires $16.2M Industrial Facility; Mall of Memphis Site Goes Industrial

Monmouth Acquires $16.2M Industrial Facility; Mall of Memphis Site Goes Industrial

By Eliza Theiss, Associate Editor Freehold, N.J.-based Monmouth Real Estate Investment Corp. has purchased a 234,660-square-foot industrial facility in Olive Branch’s Metro Industrial Park for $16.2 million, reports the Memphis Business Journal. The Class A, built-to-suit facility located at 8644 Polk Lane is near another building owned by Monmouth that…

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