REBusinessOnline

KeyBank Provides $44.8M Acquisition Loan for Overlook at Farragut Apartments in Knoxville

KNOXVILLE, TENN. — KeyBank Real Estate Capital has provided a $44.8 million loan for the acquisition of Overlook at Farragut, a 267-unit multifamily property in Knoxville. The borrower, Valor Residential, is acquiring the community for $61.7 million utilizing the three-year, senior bridge loan.Overlook at Farragut offers one-, two- and three-bedroom units with features including stainless steel appliances, granite countertops, walk-in closets, private patios and washer and dryer …

Fogelman Completes Redevelopment Project at 614-Unit Stewarts Ferry Apartments in Nashville

NASHVILLE, TENN. — Fogelman Properties has completed the redevelopment of Stewarts Ferry, a 614-unit multifamily community located at 8100 Stewarts Ferry Parkway in Nashville. The renovation project took 18 months, and the development cost was $1 million.Fogelman made interior and exterior upgrades, as well as made enhancements to the pool area including the addition of an outdoor kitchen, LED lighting and brick pool deck. The community also unveiled a new fitness center with equipment …

JLL Arranges $24.9M Sale of Aldi-Anchored Retail Center in Metro Nashville

BRENTWOOD, TENN. — JLL has arranged the $24.9 million sale of Mallory Corners, an Aldi-anchored, 70,000-square-foot shopping center in the Nashville suburb of Brentwood. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller, Longpoint Realty Partners, a Boston-based real estate private equity firm. Pine Tree, a Chicago-based retail specialized real estate company, represented the buyer, a state pension fund.Located on 6.5 acres at 1701 Mallory Lane, Mallory Corners …

Calidus Acquires 219,194 SF One Memphis Place Office Building in Downtown Memphis

MEMPHIS — Calidus has acquired One Memphis Place, a 219,194-square-foot office building located at 200 Jefferson Ave. in downtown Memphis. The seller, GPT Properties Trust, sold the property for an undisclosed amount.Built in 1984, One Memphis Place is a 15-story office building featuring attached garage parking, 24/7 security, onsite property management and its own green space across from the building. The property is located close to major thoroughfares such as Interstates 240, 40 and …

Capstone Arranges $39M Sale of Cedar Run Apartments in Memphis

MEMPHIS, TENN. — Capstone Apartment Partners has arranged the $39 million sale of Cedar Run Apartments, a 416-unit property in Memphis. The community sold for $93,750 per unit. Jonathan Hawks, Luke Searcy, Adam Klenk and Tyler Mayo of Capstone represented the seller, New York-based Emet Capital, in the transaction. Fortune Investment Group was the buyer.Built in 1975, Cedar Run includes one-, two- and three-bedroom apartment homes. Community amenities include a swimming pool, clubhouse, …

MVP3 Entertainment, ATWEC Break Ground on $50M Mixed-Use Entertainment Project in Memphis

MEMPHIS, TENN. — Marie Pizano of MVP3 Entertainment Group and Darnell Stitts of ATWEC Technologies have broken ground on MVP3 Studios, an over 40-acre mixed-use entertainment project located in Memphis. The project is expected to cost $50 million and is predicted to create 600 jobs, according to WREG Channel 3 News.The co-developers purchased the 80,000-square-foot Malco Majestic Cinema theater and the surrounding 18 acres to redevelop the property for MVP3 Studios. The site will …

Berkadia Arranges Sale, Financing of 1,002-Unit Waterview Apartment Complex in Memphis

MEMPHIS, TENN. — Berkadia has arranged the sale and financing of Waterview Apartment Homes, a 1,002-unit multifamily community in southeast Memphis. Patrick Jordan of Berkadia represented the seller, CapReit, in the transaction. Blue Magma Residential, a Tampa-based real estate firm, acquired the property for an undisclosed price.Charles Foschini and Christopher Apone of Berkadia arranged acquisition financing on behalf of Blue Magma. Arbor Realty Trust provided the $82 million bridge …

Natixis Provides $51.5M in Financing FedEx Logistics Headquarters in Downtown Memphis

MEMPHIS, TENN. — Natixis, a France-based financial services firm, has provided $51.5 million in floating-rate financing for FedEx Logistics headquarters in downtown Memphis. The financing was provided to the subsidiaries of SomeraRoad Inc. The financing will refinance the FedEx Logistics headquarters building, a 193,836-square-foot, Class A office building located at 145 Lt. George W Lee Ave. in downtown Memphis. SomeraRoad will also use the financing to fund the renovation of the parking lot …

Nicol Investment Sells Summit at Nashville West Apartment Community for $57M

NASHVILLE, TENN. — Nicol Investment Co. has sold the Summit at Nashville West, a 190-unit apartment community in west Nashville. New York-based Zurich Alternative Asset Management purchased the property for $57 million.Built in 2014, Summit at Nashville West offers one-, two- and three-bedroom units across three stories. Community amenities include a pool, fitness center, clubhouse, pet play area and a business center. The units feature in-unit washers and dryers, dishwashers, walk-in …

Cicada Capital, Eightfold Purchase Clark Tower Office Building, Restaurant Outparcel in East Memphis

MEMPHIS, TENN. — Cicada Capital Partners, in partnership with Eightfold Real Estate Capital LP, has purchased Clark Tower, a 34-story, 653,614-square-foot office tower located at 5100 Poplar Ave. in Memphis. The transaction included an adjacent 5,647-square-foot restaurant outparcel located at 5110 Poplar Ave. The sales price and seller were not disclosed.Built in 1973, Clark Tower is East Memphis’ tallest building, according to the Memphis Business Journal. Cicada Capital plans to make …

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