Bank recoups in SoBro foreclosure sale [1]
25-story plans came to naught
SoBro property once planned as the home of a 25-story condo tower sold at a foreclosure auction for a fraction of the purchase price.
Knoxville's Clayton Bank and Trust bought the tract at Third Avenue South and Peabody Street for $2.5 million Monday. The bank loaned SoBro Investments – a joint venture between Sonny Belew and Mark Lineberry – $4.2 million in the early summer of 2007 to buy the site [2], valued then at $3.5 million.
Plans had called for the SoBro to rise 25 stories and feature first-floor restaurant and retail space.
- Development [3]
- Davidson County, Tenn. [4]
- Nashville [5]
- SoBro [6]
- Clayton Bank and Trust [7]
- SoBro Land Investments LLC [8]
- D. Mark Lineberry [9]
- Sonny Belew [10]
- Foreclosures [11]
- Nashville condominiums [12]
- Nashville-area commercial real estate [13]
- Nashville-area residential real estate [14]