• French Quarter Inn Redevelopment to Go Under Review

    In December 2013, NCE Realty and Capital Group L.L.C. acquired the long-vacant French Quarter Inn in Mid Town Memphis for $1.9 million. The development group initially planned to restore the hotel to its former glory; however, due to its decrepit state, finally decided against it.

    27 May 2015 20:57
  • Historic Chisca Hotel Nears Grand Opening as Apartments

    A little over two years ago, Main Street Apartment Partners L.L.C. and Carlisle Corp. announced that they will be repositioning the century-old Chisca Hotel in Memphis as a multifamily project.

    18 May 2015 16:12
  • CCRFC to Decide on Tennessee Brewery’s Future Tomorrow

    The 12th of May will be an important day for the developers behind the Tennessee Brewery—William Orgel, Jay Lindy and Adam Slovis. The Downtown Memphis Commission (DMC) will decide tomorrow on whether to grant the three developers a 20-year PILOT for the redevelopment of the historic brewery located at 495 Tennessee St. & 11 E. Butler Ave.

    11 May 2015 15:15
  • Pinnacle Financial Announces Acquisition of Memphis-Based Magna Bank

    Pinnacle Financial Partners, Inc. recently announced that it has entered a definitive agreement to acquire Memphis-based Magna Bank. The proposed merger, which has been approved by each company’s Board of Directors, is expected to close sometime in Q4 2015.

    04 May 2015 21:20
  • USAA Real Estate Announces 25-Asset Industrial Portfolio Recapitalization

    USAA Real Estate Co. announced recently the recapitalization of an industrial portfolio totaling more than 14 million square feet. The portfolio included 25 industrial assets scattered across 11 states as well as two excess land parcels.

    28 April 2015 20:49
  • American Realty Capital Closes on 3 Memphis-Area Hotels as Part of Largest Sale Ever by Non-Traded Reit

    In February 2015, American Realty Capital Hospitality Trust Inc. closed on the Equity Inns Lodging Portfolio in a $1.8 billion deal. The portfolio consisted of 116 hotels totaling 13,744 rooms across 31 states. The acquisition raised the company’s lodging portfolio to 122 hotels and propelled American Realty Capital as one of the leaders of the hospitality industry.

    23 April 2015 18:46
  • Architecture Firm Submits PILOT Request for Memphis’ Universal Life Building

    Contingent on the approval of a PILOT request, the historic Universal Life Building at 480 & 504 Dr. Martin Luther King Jr. Ave. could soon get its second wind. Juan Self and Jimmie Tucker of Self + Tucker Architects recently submitted a PILOT request that entails the renovation and repositioning of the renowned building for office use.

    14 April 2015 15:09
  • Up-and-coming Real Estate Firm Acquires Apartment Community in Memphis

    An affiliate belonging to Michigan-based ROCO Real Estate recently acquired The Woods at Ridgeway Apartment Homes for $18.5 million. The Woods at Ridgeway is a 260-unit apartment community located at 6277 Lake Arbor Drive in Memphis, TN.

    03 April 2015 22:12
  • Ashford Hospitality, HFF Offer Details of Marriott Financing

    By Liviu Oltean, Associate Editor   A month after Ashford Hospitality Trust Inc. closed on the $43.5 million purchase of the Marriott Memphis East Hotel, the REIT and its advisor, HFF, have revealed details of the acquisition financing. Dallas-based Ashford reported in late March that it had obtained a $33.3 million floating-rate mortgage pegged to [...]

    02 April 2015 17:18
  • Ashford Hospitality Trust Procures $33.3M Financing for Acquisition of Marriott Hotel

    After announcing that it entered a definitive purchase agreement to buy the 232-room Marriott Memphis East Hotel back in January, Ashford Hospitality Trust, Inc. wasted no time in procuring financing and closing on the hotel.

    31 March 2015 21:21
  • Tanger Outlets Memphis Mall Announces Partial Tenant Roster

    By Liviu Oltean, Associate Editor City and state officials along with Tanger Factory and Poag Shopping Centers representatives participated last week at the groundbreaking ceremony for the previously announced Tanger Outlets Memphis mall. During the ceremony, the first 10 tenants were announced: White House Black Market, Guess Factory Outlet, Ann Taylor, American Eagle, Chico’s, Under [...]

    23 March 2015 22:05
  • Apartment Community in Memphis Changes Hands for $51.3M

    By Liviu Oltean, Associate Editor The Preserve at Forest Creek Apartments, a 414-unit, Class A apartment community, recently changed hands for $51.3 million. According to a special warranty deed, two affiliates of Carter-Haston Real Estate Services Inc. sold the community in Germantown to BRE Piper MF Forest Creek TN LLC, an entity belonging to Chicago-based [...]

    18 March 2015 00:32
  • WPT Industrial REIT Enters Memphis’s Industrial Market with $86.25M Purchase

    Toronto-based WPT Industrial Real Estate Investment Trust just made a big splash in Memphis. The company recently acquired an industrial portfolio consisting of six distribution facilities for $86.25 million.

    02 March 2015 23:20
  • St. Jude Children’s Research Hospital Announces Opening of $198M Center

    Nonprofit medical corporation St. Jude Children’s Research Hospital recently announced the opening of the Kay Research and Care Center. The $198 million center will now house the Eric Trump Foundation Surgery and ICU Center; the Marlo Thomas Center for Global Education and Collaboration; and the St. Jude Red Frog Events Proton Therapy Center, which is slated for a fall opening.

    23 February 2015 17:40
  • Sealy & Co. Buys Desoto County Distribution Center

    Sealy & Company, a commercial real estate investment and operating company, just increased its regional footprint through the acquisition of the Hacks Cross Distribution Center located in Desoto County, MS. At the time of the acquisition, the 240,000-square-foot distribution center was fully leased by hardlines distributor Orgill Inc.

    16 February 2015 23:08