An out-of-town development company has paid about $7.12 million for an East Nashville property on which it plans to undertake its second residential project in the city, according to a Davidson County Register of Deeds document.

Isle of Palm, South Carolina-based Woodfield Development is eyeing a five-story building with 240 units for 2600 Dickerson Pike. The multi-parcel site of about 5.1 acres offers no building.

Woodfield art