Homeowner Looks to Slash Costs As Teardown Costs Double

Columnist Nancy Keates planned to replace her aging cottage with a custom-built home for about $800,000, but now faces a $1.6 million bill. She examines her expenditures with the hopes of cutting the price.

Borrowers Find Help Only After Falling Behind on Mortgages

Consumers seeking financial relief are receiving assistance only after missing loan payments. But defaulting brings all kinds of headaches.

Winter-Heating Crisis Looms in the Northeast

As oil prices surge to new records House and Senate lawmakers are trying to raise states' emergency fuel funds to $431 million.

Banks Fear Democrat Bids To Aid Mortgage Borrowers

Some lenders are concerned an effort in Washington to help homeowners avoid foreclosure could lead lawmakers to scale back bankruptcy overhauls adopted two years ago.

Sketch Pad: Growing Up, Not Out, in Brooklyn

A Brooklyn mansion held less appeal for an architect planning a makeover than the carriage house out back.

Streetscapes | Lenox Hill: A Hospital?s Journey

The original plan for Lenox Hill called for a series of medical pavilions.

Living In | Broad Channel, Queens: Close to Nature, and the Airport

One skinny mile long, Broad Channel offers beaches, bay views and a wildlife refuge, with just a hint of a downtown.

Habitats | Syosset, N.Y.: Lifting a High Ranch to New Heights

A relatively small project turns into a major renovation.

The Hunt: Ready for City Life

After he took a job in New York, John Berglund and his family were determined to live in the center of the city.

National Perspectives: A Small-Town Feel in an Urban Locale

Young and old alike are finding affordable real estate in Portland, Ore.


More news sites here:

Apartment complex acquired for $1.7M

01.03.2007
Capital Growth Corp. of Utah has purchased the 118-unit Royal Knight Apartments in the East Winchester area for $1.7 million. Blake Pera and Tommy Bronson III of CB Richard Ellis Memphis Multifamily represented Capmark Finance Inc., the seller of the property.

Capital Growth Corp. of Utah has purchased the 118-unit Royal Knight Apartments in the East Winchester area for $1.7 million.

Blake Pera and Tommy Bronson III of CB Richard Ellis Memphis Multifamily represented Capmark Finance Inc., the seller of the property.

Royal Knight Apartments, located on Knight Arnold Road, is east of Memphis International Airport.

"The buyer has some great ideas for the property and will add immediate value to the asset," said Bronson, vice president at CB Richard Ellis, in a statement. "Royal Knight already enjoys great curb appeal, so it will be great to see someone revitalize the entire community."

Royal Knight's 118 units have nine floorplans averaging 841 square feet with an average rent of $503 per unit.

The Royal Knight acquisition adds to Capital Growth Corp.'s other Memphis multifamily holdings, which include Shadowbrook Townhomes, Hickory Forest Apartments and Hickory Hills Apartments.

jscruggs@bizjournals.com | 259-1727



  Add comment

Name: 
E-Mail: 
Comment: 
Enter code: 


Copyright © The Estate News | |