Linfield Capital has paid a collective $6.35 million for two downtown properties — including that of the long-standing The Rymer Gallery — located near the west entrance of The Arcade, which the New York-based real estate company also owns.
The purchases come as Linfield Capital and some local investors (including Rob Lowe, who serves as managing director for the local office of commercial real estate company Stream), via Newco ARC LLC, recently paid $6.8 million for the downtown building home to the Tennessee Bar Association.
The just-purchased buildings offer address of 244 and 233 Rep. John Lewis Way, with the former home to Santorini Greek Restaurant and the latter accommodating, as noted, the art gallery co-owned by Jeff Rymer and Herb Williams.
The sellers of 244 Lewis Way were Lindsay Tahiry and Marc Tahiry, who paid $325,000 for the three-story building in 2013, according to Metro records. Newco ARC LLC acquired the property for $4.6 million. It is unclear what, if any, uses floors two and three offer.
The seller of 233 Lewis Way (the building in which the space is located is pictured and offers residential space also) was Jeff Rymer, who paid $628,000 for his property in 2008 and opened the street-level gallery within it shortly thereafter. Newco ARC LLC acquired the property for $1.75 million. According to sources, Rymer will soon cease gallery operations at the space, but he could not be reached for comment regarding a possible relocation.
Linfield Capital could not be reached for comment regarding its plans for the spaces.
Vickie Saito, senior vice president with Colliers International Nashville, represented Rymer, according to the sources. The Tahirys family had no broker.
The purchases come as Linfield Capital and Lowe recently landed Metro Development and Housing Agency approval to update the two entrances to The Arcade.
