Elmington Capital Group completed buying L&C Garage for about $7 million, adding a second downtown area parking facility to its portfolio.

The Nashville-based real estate firm bought the six-story garage at 144 Fifth Ave. N. from Armand Lasky, minority owner of Nashville’s first skyscraper, L&C Tower.

The garage with 305 parking spaces is in the same block as that building, which is undergoing a $4.5 million renovation and just added tenants such as Warby Parker.

Elmington said it hired Nashville-based Premier Parking to manage the L&C Garage.

“We are excited about such a well-located acquisition in the heart of Nashville,” Ryan Seibels, a senior vice president at Elmington, said, adding that the firm has seen an increase in demand for downtown parking since it also bought the six-story, 100,000-square-foot office tower atop the Renaissance Nashville Hotel last year. “We are confident the location will continue to be in high demand for years to come.”

Elmington also owns a pair of surface lots in Midtown, which the firm inherited through buying the retail strip on Demonbreun Street where tenants include Tin Roof and Off Broadway Shoes. A 200-car parking garage is part of plans to redevelop the property.

Douglass Johnson and Steve Preston of CBRE brokered the sale of L&G Garage to Elmington. Farm Bureau Life Insurance Co. of Des Moines, Iowa, provided debt financing. The debt was sourced through Stephen Brink at First Southern Mortgage.

“We’re excited to be investing significant capital to further enhance the marketability and functionality of the property,” Seibels said about the L&C Garage.

Elmington owns at least $300 million worth of office, apartment and retail buildings.