Wednesday, October 20, 2010

Belle Meade Town Center sold

An entity of Goldman Sachs Group paid $15.26 million for the Belle Meade Town Center on Tuesday in a foreclosure sale on the steps of the Davidson County courthouse. A subsidiary of Goldman Sachs had previously purchased the rights to the loan.
MLQ-Bell, LLC was the only bidder for the property, said attorney Brendi Kaplan, who handled the sale. The foreclosure process was started after Wells Fargo accused borrower BMT Associates of defaulting on a $23.6 million loan toward the development, which rehabbed the historic Belle Meade Theatre off Harding Road into a Harris Teeter grocery store, bank branch and luxury apartments.


Psychiatric Solutions' net income rises

Behavioral hospital operator Psychiatric Solutions Inc. said Tuesday that its third-quarter net income rose 88 percent on a boost in admissions. The Franklin-based company runs hospitals in 32 states, Puerto Rico and the U.S. Virgin Islands.

It said total admissions rose 10.7 percent during the quarter. At hospitals owned or operated for at least a year, admissions rose 8.2 percent, and revenue increased 10.4 percent. Shares of Psychiatric Solutions fell a penny to $33.61 in the regular session, and gained 3 cents to $33.64 after hours when the earnings report was released.


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