$10M ACQUISITION LOAN SECURED FOR MEMPHIS FEDEX WAREHOUSE

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MEMPHIS, TENN. — Cronheim Mortgage has secured a $10 million acquisition loan for the purchase of a 487,670-square-foot FedEx Supply Chain Services warehouse in Memphis. The property, which was built in 1994, is located at the intersection of U.S. Highway 78 and Tuggle Road. The 5-year loan carries a 6.25 percent interest rate and a 20-year amortization schedule. Cronheim's Andrew Stewart, Dev Morris and Patrick Haggerty arranged the loan.

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