Chestnut Development Partners LP, Gail Schledwitz and other investors led by Terry Lynch acquired the Pinnacle Center at 7900 Airways Boulevard from BancorpSouth, Inc. (NYSE:BXS) for $6.3 million on January 4, 2013. Iberiabank was the lender on the purchase. CBRE Memphis managed and leased the property before the sale and will continue to do so with the new owners. Johnny Lamberson and Terry Radford of CB Richard Ellis Memphis acted as real estate broker to BancorpSouth.

Chestnut Development Partners LP, Gail Schledwitz and other investors led by Terry Lynch completed the acquisition of the Pinnacle Center at 7900 Airways Boulevard from BancorpSouth, Inc. (NYSE:BXS) on January 4, 2013.