Highland Row Developer Applies for $6.7 Million Permit

VOL. 129 | NO. 220 | Tuesday, November 11, 2014

Memphis Real Estate Recap

387 S. Highland St. Memphis, TN 38111 Permit Amount: $6.7 million

Project Cost: $61 million Application Date: November 2014 Engineer: Jordan & Skala Engineers Details: Indianapolis-based developer Milhaus Ventures has applied for another building permit for the long-awaited Highland Row project near the University of Memphis.

387 S. Highland St. Memphis, TN 38111

The company has applied for a $6.7 million building permit through the city-county Office of Construction Code Enforcement for construction of a four-story apartment building at 387 S. Highland St., the first piece in the $61 million Highland Row project. In October, Milhaus applied for a $20 million permit for the project.

The mixed-use Highland Row development will include 354 apartments, 35 townhomes, a parking garage and 26,000 square feet of retail space. Memphis-based Poag Shopping Centers originally planned to develop Highland Row, but those plans were shelved following the recession.

2625 Thousand Oaks Blvd. Memphis, TN 38118 Sale Amount: $5 million

Sale Date: Oct. 29, 2014 Buyer: Jubilee Hotels Group LLCSeller: JPMCC 2007 CIBC19 Lodging 2625 LLC Loan Amount: $7.5 million Loan Date: Oct. 29, 2014 Lender: Texas Capital Bank N.A Details: An East Memphis hotel has sold for $5 million.

JPMCC 2007 CIBC19 Lodging 2625 LLC sold The Hotel Memphis at 2625 Thousand Oaks Blvd., near Perkins Road and Interstate 240, to Jubilee Hotels Group LLC, according to an Oct. 29 warranty deed.

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Highland Row Developer Applies for $6.7 Million Permit