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Tag Archives: Commercial Real Estate

Parkway on verge of huge growth spurt with Eola acquisition

JACKSON — Parkway Properties is about to nearly double in size and acquire a half-dozen new office buildings in Philadelphia and throughout the South, company executives said yesterday in announcing a definitive agreement to acquire privately owned Eola Capital, LLC. In the move, chairman Leland Speed will cede the executive chairmanship to James “Jim” Heistand, Eola’s current chairman. Speed, who ...

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SBA offering commercial mortgage refinancing assistance

ACROSS MISSISSIPPI — Small business owners with eligible commercial real estate mortgages maturing after Dec. 31, 2012, will be able to secure more stable, long-term financing through the U.S. Small Business Administration’s temporary 504 refinancing program as a result of a change that will be published in The Federal Register by April 6. In February, SBA implemented a temporary refinancing ...

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Evans Trial: Clear & convincing evidence of fraud?

By Amy McCullough MVT attorney Bill Brabec made an unspecified motion on which Judge Olack declined to render judgment until the end of the trial. Brabec said the Bank of Forest had failed to present clear and convincing evidence regarding the claims of fraud and negligent misrepresentation. Evidence shows that “the title companies, when they issued a commitment, did not ...

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Evans real estate fraud trial delayed till tomorrow

By Amy McCullough Oral arguments in the long-awaited civil trial of the Evans brothers commercial real estate fraud case have been put off until tomorrow morning (Tuesday, March 1), due to the fact that Mississippi Valley Title’s attorney, Bill Brabec, is sick. In January, the brothers pleaded guilty to criminal charges of conspiracy to commit money laundering and bank fraud ...

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SBA offering new program for commercial mortgages

WASHINGTON — Small businesses facing maturity of commercial mortgages or balloon payments before Dec. 31, 2012, may be able to refinance their mortgage debt with a 504 loan from the U.S. Small Business Administration under a new, temporary program. The new refinancing loan is structured like SBA’s traditional 504, with borrowers committing at least 10 percent equity and working with ...

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Parkway expects office vacancies to rise

JACKSON — Parkway Properties Inc. signed a total of 178,000 square feet of new leases, 594,000 square feet of renewal leases and 46,000 square feet of expansion leases during the fourth quarter of 2010. Key metrics associated with this activity will be disclosed in the Company’s fourth quarter 2010 earnings press release and supplemental package. Additionally, Parkway currently anticipates customers ...

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Criminal charges filed in Evans real estate fraud case

Charles H. Evans Jr. and his brother Chris Evans have each been charged with two felonies by the U.S. District Attorney. On Dec. 16 the U.S. Attorney for the Southern District of Mississippi charged each of the brothers with conspiracy to commit money laundering and bank fraud. The punishment for bank fraud is a fine of up to $1 million ...

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Evans Exam Re: Trust Account Delayed Until July

See prior post. JACKSON-Charles Evans Jr. was set to be questioned this week about his trust account, but a federal judge ruled Monday that the exam will be delayed until July in order to allow time for the examination of a significant amount of documents recently found in a storage facility. For months creditors have tried to determine whether Evans and ...

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Former Nick’s (restaurant) space leased

The ground floor at 1501 Lakeland Drive in Jackson, occupied for 25 years by Nick’s restaurant, has been leased to ophthalmologist Kirk R. Jeffreys III. Jeffrey’s practice and optical shop will occupy 4,500 square feet of the 7,500 square foot space. Nick’s moved to a nearby Old Canton Road location in December 2009. The 1501 Lakeland Drive building’s major tenants ...

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Confuse & Conquer

Evans brothers commercial real estate parceling dazed lenders Since two Jackson metro area brothers were sued by a Madison title insurance company for allegedly perpetrating commercial real estate and title insurance fraud, parties have worked to unravel the alleged scheme and speculated on the way the alleged fraud occurred. Mississippi Valley Title Insurance Company (MVT) filed its first lawsuit against ...

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