According to news from Boyle Investment Company week before last, some investors are prepared to capitalize on the current state of the real estate market. Midsouth Capital Fund I LLC has been formed to focus capital assets onto markets primarily in Memphis and Nashville. The initial $30 million of a projected $80 million dollar fund has already been committed. Whether this is good news for Realtors and banks in Tennessee remains to be seen, but Memphis' trolley may have come in finally.
While Midsouth will focus on the two big Tennessee cities with the most opportunity, other properties in the Mid-South will be examined as well. Tennessee, Kentucky, Alabama, Mississippi, and Arkansas have some of the best property opportunities price wise in the country. Fund managers have already purchased office space in Nashville to spearhead the fund's activities in the region.
Over the next several months the Midsouth intends to solicit additional investors from within the Memphis and the rest of Tennessee. Henry Morgan, President of Boyle Investment Co. has this to say about the move:
“The newly formed Midsouth Capital Fund I takes advantage of the unique real estate investment climate in which capital is scarce and liquidity needs in the marketplace are providing attractive acquisition opportunities. Investors can take advantage of the potential greater returns offered by high-quality real estate in what may be a coming inflationary environment. The fund enables investors to maintain a more diverse deployment of their capital and to react quickly to these real estate investment opportunities.”
On the positive side of this news, Boyle Investments, founded in 1933 by Bayard Boyle Sr., has been involved in every major expansion or property boom in Memphis history in one way or another. The old saying goes something like; "nothing is certain but death and taxes," well - there are other near certainties. One such liklihood for Memphis and all of Tennessee Real Estate folks is, "where Bayard Boyle puts his money, other investors will follow." There is, after all, no substitute for success where investment dollars are concerned. It appears the market has achieved sufficiently high levels of opportunity for the big players to wade in.
Boyle Investments has always been based on solid planning, which indicates a bit more opportunity amiss for the keen observer. This write has always put a premium on transparency and the accessibility of leaders, and the reader might find it interesting that Bayard Boyle posts his phone and email address. Old school he may be, but the Boyle website (image above of refined search), and all the indicators show a company that knows its way around. Mid-America Construction Company to Boyle's Insurance interest, when you look for trends to follow - what you see in Boyle is a great deal of money.
The video below reveals Boyle's committment to top drawer construction and development. Taking all this into consideration, and weighing a bit of research, it appears as if Bayard Boyle got tired of watching Memphis and Nashville go down. Of course there are hundreds of millions, if not billions to be made on the upswing too. Both sentiments lead to bigger news than most outlets suggested perhaps - and that's why we are here.
Some images courtesy the Boyle Investment website.