Cypress Realty Files $7 Million Construction Loan

VOL. 129 | NO. 128 | Wednesday, July 02, 2014

Cypress Realty Holdings Co. has filed a $7 million construction loan for a medical office building on Wolf River Boulevard in Germantown.

Operating as Cypress Realty Holdings Co. II 7600 WR LLC, the company filed the loan June 27 through Financial Federal Bank. Price D. Ford Sr. signed the trust deed as president of the borrower.

Cypress Realty Holdings Co., whose principals Joe Jarratt and Ford also operate Ford Jarratt Realty & Development Co., bought the land which included another parcel at the time that has already been developed in 2007 for $3.9 million.

The Memphis-based real estate firm filed a $4 million building permit last year for a two-story, 36,000-square-foot medical office facility on the nearly 3-acre lot along the north side of Wolf River Boulevard.

The Shelby County Assessor of Propertys 2013 appraisal of the land, which backs up to the Wolf River, was $1.4 million.

Source: The Daily News Online & Chandler Reports

Daily News staff

A Nashville-based law firm is moving into permanent space at the Renaissance Center office building.

Waller Lansden Dortch and Davis LLP, which opened a Memphis office in February, has leased 10,000 square feet in the East Memphis office building at 1715 Aaron Brenner Drive.

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Cypress Realty Files $7 Million Construction Loan