MEMPHIS—Once known as the Elvis Ranch after music legend ElvisPresley, the famed Circle G Ranch has a new owner. Direct privatelender Kennedy Funding Financial just closed a$2.3 million loan by HL3 Lender toHL3. The borrower is acquiring the historicproperty for $3.65 million.
Located in DeSoto County near Memphis, The Circle G Ranch wasnamed as a tribute to Elvis' mother, Gladys. Kennedy closed athree-year, interest-only loan secured by a first lien on the240-acre property in Horn Lake, MS.
Elvis originally purchased the ranch in 1967 for $300,000. Itserved as a frequent getaway spot for the pop star. It was also thescene of Presley's honeymoon with his bride, Priscilla. HisGraceland estate is only 10 miles away, drawing Elvis fans to theranch.
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