MEMPHIS-The redevelopment team of the historic Chisca Hotel in Memphis has bought the building and an adjacent parking garage for $900,000. Main Street Apartment Partners LLC, led by Gary Prosterman, Gail Schledwitz and Terry Lynch, purchased the property with plans to spend $20 million to redevelop the building into apartments with commercial space on the ground floor.
The property was sold by the Church of God in Christ. Anthony Lopes of Sperry Van Ness Investec Realty Services LLC brokered the deal for the seller. For the full story, go to Memphis Business Journal .
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