Marina Cove Apartments Sold for $2M

MEMPHIS-The Marina Cove apartment complex has been purchased by Power Center Community Development Corp. for $1.6 million.

By GlobeSt News Portal | July 20, 2010 at 01:01 AM

MEMPHIS-The Marina Cove apartment complex has been purchased by Power Center Community Development Corp. for $1.6 million. Power Center is expected to demolish the complex for a redevelopment project on the 24.1-acre site. The apartment complex has 394 units and is located at 5505 Winchester.

The property was bought from Water Garden LLC. The buyer was represented by Universal Commercial Real Estate LLC, while the seller was represented by Marcus & Millichap Real Estate Investment Services. For the full story, go to Houston Business Journal.

NOT FOR REPRINT

1 Tariffs Trigger Sharpest Drop in CRE Confidence Since Pandemic

2 Offices are Landing in Special Servicing Despite Strong Occupancy and Rent

3 Banks, Auto Parts Stores Lead Retail Cap Rate Declines

4 Office Distress Finally Starts Knocking on Investors’ Doors

5 Southeast Apartment Market Faces Looming Slowdown as Permits Plunge

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

Maracay Continues Land Assemblage for 572-Home Community

By John Jordan | October 01, 2018

Maracay officials say the firm intends to close on the third and last land purchase of 80 acres and 240 homesites in Chandler in early 2019.

Maracay Continues Land Assemblage for 572-Home Community

Summit Hotel Properties Acquires Boston-Area Hotel, Sells FL Property

By John Jordan | October 01, 2018

The Austin, TX-based hotel REIT also reports that it has closed on the sale of the 148-room Hyatt Place Fort Myers/at the Forum in Fort Myers, FL for $16.5 million or approximately $111,000 per key.

Summit Hotel Properties Acquires Boston-Area Hotel, Sells FL Property

Historically Low Industrial Availability Amps Up Urgency

By Lisa Brown | October 01, 2018

The ProAmpac campus recently purchased by an EverWest partnership totals three buildings in the Kent Valley submarket, one of Washington's most in-demand warehouse and manufacturing locations.