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Real Estate & Construction

COMMERCIAL FINANCE 701 — The new federal banking sheriffs

On May 24, 2018, 489 days after his inauguration, President Donald Trump finally succeeded in placing appointees at the helms of the four major federal banking regulators.  The prospective immediate and longer term changes to be brought about by these new federal banking sheriffs bode well for banks, commercial lenders, and developers. BACK DROP: Barack, Elizabeth & Donald During the ...

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Maddox joins Kerioth Corporation as director of facilities

Kerioth Corporation, Inc., a commercial real estate planning, building and development company is pleased to announce Keith Maddox has joined their team as Director of Facilities. He is responsible for overseeing Kerioth’s properties including The Township at Colony Park in Ridgeland, Meadowbrook Office Park in Jackson, Magnolia Marketplace in Flowood and many others. Maddox has 12 years of experience in ...

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Tommy Payne earns prestigious CCIM designation

Tommy Payne, Broker Associate with Payne Realty of Madison has been awarded the Certified Commercial Investment Member designation by CCIM Institute. The designation was awarded during a pinning ceremony on April 11 during CCIM Institute’s Midyear Governance Meetings at the Grand Hyatt in Tampa, Florida. The CCIM designation signifies expertise in the commercial real estate profession. Payne received his Bachelor ...

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Concord Capital announces purchase of 600 Concourse in Ridgeland

Concord Capital, LLC announced the purchase of the 600 Concourse Building in Ridgeland, establishing the company as the second largest office landlord along Highland Colony Parkway. Concord Capital is the acquisition and development company of industry veterans Ted Duckworth, Breck Hines and John Michael Holtmann. Concord and their affiliates also own 200 and 400 Concourse, and this acquisition brings their ...

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COMMERCIAL FINANCE 701 — A LIBOR Update: Here comes SOFR!

  Following the sounding of LIBOR’s death knell last summer, a flurry of governmental and industry activity culminated in the selection of SOFR as a replacement index rate for commercial loans.  Accordingly, a sequel of our August 2017 column “The Passing of LIBOR” is in order. London Interbank Offered Rate (LIBOR) Recall on July 27, 2017, the Brits prospectively announced ...

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Sigma Lambda Chi recognizes MCEF’s Barkett for exemplary leadership

Mike Barkett, president of the Mississippi Construction Education Foundation, is being honored for his outstanding contributions in construction education by Sigma Lambda Chi – the only internationally recognized honor society for the construction industry. A proponent of career and technical education, Barkett has influenced thousands of students seeking careers in Mississippi’s growing construction industry. Barkett, a Rankin County resident who ...

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Costco without gas pumps seen as a possibility

By JACK WEATHERLY A week after the Mississippi Supreme Court struck down rezoning that would have accommodated a Costco Wholesale store planned for Ridgeland the status of the project remains in the dark. Speculation is that the ruling simply would not allow the store on Highland Colony Parkway to have gasoline pumps, but that the 100,000-square-foot store could move forward. That interpretation is apparently based, at ...

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UPDATE: Court rules against Ridgeland’s Costco plan

By JACK WEATHERLY The Mississippi Supreme Court found on Thursday that the city of Ridgeland acted improperly in rezoning property for what would’ve allowed the construction a Costco Wholesale store on a 45-acre site on Highland Colony Parkway. The court reversed a ruling by Judge John Emfinger in Madison County Circuit Court. It ruled that the city of Ridgeland hadn’t proved ...

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Mississippi city offers up historic properties to developers

A Mississippi city is soliciting requests for proposals to develop three downtown properties it owns. The Sun Herald reports Biloxi Mayor Andrew “FoFo” Gilich wants to capitalize on the success of a lucrative deal to rent the city’s old library as a restaurant. The city will consider proposals for two 19th century properties: the Magnolia Hotel, which houses a Mardi Gras museum, ...

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Historic Mississippi building will likely be torn down

A historic Mississippi building has been deemed unrepairable and will likely be torn down. The Greenwood Commonwealth reported Tuesday that the Midway Hotel in downtown Greenwood will likely be demolished. Mayor Carolyn McAdams says a structural engineer reported that another historic structure has deteriorated but could be salvaged. The buildings fall under an ordinance requiring their owners to preserve them ...

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