Local investors have completed the purchase of the 47-acre riverfront scrapyard site in Nashville, Tennessee. The property has been used primarily for metal recycling since the early 1960s. SA Recycling has managed the site since its acquisition of PSC Metals in 2021. The purchasing entity is TEB LLC, which was organized by ARRT Global’s SRE Fund I, LLC (Fund). The Fund is comprised largely of investors from Nashville and the state of Tennessee.
ARRT Global, the Fund’s sponsor, is led by David Byerley. Byerley, Chairman and CEO of ARRT Global, has spearheaded some of the largest real estate deals in Nashville’s history, including Nashville Yards. He is joined by Sam Lingo, Managing Partner at ARRT Global and former President and Chief Operating Officer at Nashville Entrepreneur Center. Byerley and Lingo have significant experience and a track record of success launching and leading complex projects that make a lasting impact on the city.
Byerley stated, “Deals of this size are never a solitary achievement or one person with an idea, but rather about a group of committed individuals working together towards a common goal, and over the last four years we have assembled the very best to complete this acquisition. This purchase represents more than 50 local investors banding together on a mission to do something special for our Nashville community.”
Lingo added, “With the land now acquired, our work will be steadfast and meticulous to deliver a generational vision for all stakeholders. We look forward to sharing more with Nashville as we work with our partners to establish a vibrant district on the East Bank that we all can be proud of.”
The property has been pinpointed by many as Nashville’s key redevelopment site for decades and a critical component of the East Bank’s revitalization. The investment team coalesced around a vision that would put Nashville and its families at the center of the long-anticipated reimagining of this prominent riverfront property
“There needs to be a vibrant and attractive downtown neighborhood where families have a sense of belonging and build strong, lasting memories together,” said Byerley. “It should be planned with the riverfront as the front door to diverse living opportunities and blend unique urban amenities, activated with entertainment and retail that pair with the vision Metro has for the East Bank.”
Byerley also credited a team of experts and partners that include Hall Strategies, Jigsaw, BHA Strategies, Ragan Smith, Burns & McDonnell, Gensler, SouthRock Development, Terracon, Meridian Law, Elliott Davis, K&L Gates, Martin & Zerfoss, and Harpeth Capital as well as Rosemary Calcese of Calcese & Associates, Brooks Smith of Bradley, and Larry Papel of Nelson Mullins.
Byerley closed with saying, “Mr. Icahn and his team worked with us brilliantly to get this over the finish line, and I am personally grateful.”
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