In what ranks among the most noteworthy real estate transactions in Nashville history, roughly 45 acres of East Bank property sitting near the Cumberland River have sold for $245 million.
According to a Davidson County Register of Deeds document, the new owner of the 12 parcels is TEB LLC, which is affiliated with local investors David Byerley and Sam Lingo (the latter is the former president of the Nashville Entrepreneur Center), among other investors.
The seller of the property, previously offered via auction, was Nashville Recycling LLC. That entity is affiliated with Icahn Enterprises LP, led by billionaire businessman and investor Carl Icahn.
Billionaire investor Carl Icahn reportedly has a purchaser for 45-acre site on Cumberland River
TEB LLCÂ has landed a loan for about $136.9 million from First American Title Insurance Company, according to a separate Davidson County document.
SA Recycling (formerly called PSC Metals), among other businesses, operates its metal scrapyard at the industrial site, some addresses for which include 710 S. First St. and 610 S. Second St. Nearby, work continues on the Titans' future NFL stadium.
The latest East Bank transaction is the equivalent of about $5.44 million per acre, with both the acreage and per-acre figures representing two of the more significant marks for urban Nashville property not located downtown. The buyers have not announced their intentions for the just-acquired property.Â
Byran Fort, Frank Thomasson and Ryan Coulter of the Nashville office of Dallas-based CBRE represented the seller.
The buyer did not use a broker, according to a source who asked to go unnamed.
This article was first published by our sister publication, the Nashville Post.
