A downtown-parking garage has changed hands twice this month.
Monroe Carell’s family bought the garage at 215 and 217 Third Avenue N. at the end of March and on Friday sold it to Mark Lineberry and company.
Lineberry’s entity paid $6.6 million for the garage the same price the Carell entity paid for it, according to property records. He said the garage is for the Indigo Hotel going into a renovated American Trust building at Third Avenue and Union Street.
Construction has stalled on the hotel to work with a new lender. Lineberry’s lender, Integrity Bancshares, got into trouble with bad residential loans and now he and his partners have a loan commitment through another bank.
Lineberry’s entity borrowed $4.7 million to buy the garage. The Bank of Nashville and Columbus Bank & Trust are involved in the deal.
NAI Nashville adds newbie
Drew McDaniel has joined the downtown real estate firm NAI Nashville. He’s a recent graduate of Louisiana State University.
With a real estate-focused finance degree in hand, McDaniel left his native Louisiana for Nashville believing Music City had opportunities. He’ll be working with broker Terry E. Smith on industrial, investment and land projects.
Colliers employees swing hammers
Last week, Colliers employees framed a house for Affordable Housing Resources, a Nashville-based nonprofit firm that focuses on helping people buy houses. The employees had donated $6,000 for the materials and volunteered to frame the house. It’s unclear though whether there were any cold “Silver Bullets” afterwards.
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