{"id":1004052055,"date":"2012-06-08T07:38:43","date_gmt":"2012-06-08T15:38:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=51561"},"modified":"2025-02-25T23:40:58","modified_gmt":"2025-02-26T07:40:58","slug":"lincoln-at-wolfchase-sold-for-27-75m-ikes-for-9-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-at-wolfchase-sold-for-27-75m-ikes-for-9-5m\/","title":{"rendered":"Lincoln at Wolfchase Sold for $27.75M; Ike\u2019s for $9.5M"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/p>\n

The 408-unit Lincoln at Wolfchase Apartments \"\"<\/a>in Cordova has been recently purchased for $27.75 million, or $66,789 per unit, reports the Memphis Business Journal<\/em>. Irving, Texas-based investment management firm Archon Group LP, working under the name MLQ-ELD LLC, purchased the asset from Lincoln at Wolfchase Associates LLC.<\/p>\n

Located at 8230 Rockcreek Pkwy., the Lincoln at Wolfchase boasts 380,670 square feet of property that break down into 18 two- and three-story apartment buildings. Buildings are made up of one-, two- and three-bedroom units. Units range between 684 and 1,250 square feet, which rent from $685 to $1,250 per month. The apartment complex was built in 1998.<\/p>\n

Archon is an affiliate of The Goldman Sachs Group, Inc.<\/p>\n

In Memphis, Ike\u2019s drug store and three adjacent vacant parcels were purchased by a Florida-based entity working under the name WG Memphis LLC. It paid a total of $9.5 million to former owner, LAF Brothers Properties LLC of Little Rock, Ark., reports The Memphis Daily News.<\/em><\/p>\n

The properties are bounded by Union Avenue, South Cooper Street and Summit Street. The vacant lots total about 2.4 acres, while the former drugstore building has 27,800 square feet. It was built in 1950.<\/p>\n

LAF Brothers purchased the Ike\u2019s property in November 2011 for $500,000 and paid $3.7 million in 2010 for the vacant lots around it. The $9.5 million all four properties fetched seems to have turned a good profit, as the Shelby County Assessor of Property appraised the overall area for a combined value of $3.9 million.<\/p>\n

Photo credit:<\/em> Lincoln at Wolfchase Apartments\u2019 Facebook Page<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Eliza Theiss, Associate Editor The 408-unit Lincoln at Wolfchase Apartments in Cordova has been recently purchased for $27.75 million, or $66,789 per unit, reports the Memphis Business Journal. Irving, Texas-based investment management firm Archon Group LP, working under the name MLQ-ELD LLC, purchased the asset from Lincoln at Wolfchase Associates LLC. Located at 8230 […]<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[1815],"class_list":["post-1004052055","post","type-post","status-publish","format-standard","hentry","category-latest","tag-national"],"acf":[],"yoast_head":"\nLincoln at Wolfchase Sold for $27.75M; Ike\u2019s for $9.5M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-at-wolfchase-sold-for-27-75m-ikes-for-9-5m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lincoln at Wolfchase Sold for $27.75M; Ike\u2019s for $9.5M\" \/>\n<meta property=\"og:description\" content=\"By Eliza Theiss, Associate Editor The 408-unit Lincoln at Wolfchase Apartments in Cordova has been recently purchased for $27.75 million, or $66,789 per unit, reports the Memphis Business Journal. 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