A Cincinnati-based development company has paid $2 million for a Nashville International Airport-area property and is eyeing what will be its first local development.

Neyer Properties will undertake the project, a 150-unit apartment building, at 713 Ermac Drive. The company recently bought the 4.9-acre property, with the seller an LLC seemingly affiliated with Fargo, N.D.-based Theraldson Hospitality Management.