N.C. company buys bankrupt downtown hotel

Troubled Indigo sells for almost $12M

A Raleigh, N.C., company has paid nearly $12 million for the troubled downtown Hotel Indigo.

TN Nashville LLC, a subsidiary of Winston Hospitality, filed the $11.825 million property transaction Friday morning. Winston runs five other hotels in Carolina, Florida, Alabama and Oklahoma.

315 Union Holdings, the development partnership of Mark Lineberry and Keith Worsham, has been in bankruptcy since December and is the subject of numerous legal filings, related to an initial $18 million building loan from North Carolina's BB&T Bank.

The buildings housing the luxury hostelry have an interesting history: Their architectural weirdness was born of one of the city's oldest and most virulent business disputes.