“I was originally attracted to Memphis for multifamily opportunities, but upon experiencing and studying the market, I found great opportunity in a variety of Downtown real estate,” he said.
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The Royal Furniture building on South Main Street near Gayoso Avenue has been sold for $3.5 million to make way for what will eventually become a mixed-use building.
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New York-based developer Tom Intrator has been considering redevelopment projects in Downtown Memphis for years, but he hasn't been confident in the timing.
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The Greens at Irene sale is the largest multifamily transaction in Shelby County over the past year. Collierville’s 324-unit Madison at Schilling Farms community changed hands for $34.3 million in June.
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