After analyzing more than a dozen offers to purchase its property in downtown Nashville, LifeWay Christian Resources has signed a letter of intent with an undisclosed firm that represents local and national developers.

The temporary legal arrangement allows LifeWay and its potential buyer to concentrate on its negotiations on terms for the 15-acre downtown facility. Last week, LifeWay says it eliminated several of the offers and focused on a handful of possible buyers.

“The talks are ongoing, so it would be premature for us to discuss any elements of the negotiations or the businesses and individuals involved,” said LifeWay spokesperson Marty King. “Several other potential buyers have been told their offers are on hold until current negotiations either move forward toward a contract or are dissolved.

“We anticipate a final decision in a few weeks, as we continue to seek the arrangement that provides the best stewardship of the resources with which LifeWay has been entrusted for more than 100 years.”

LifeWay’s nine-building campus includes its LifeWay Christian Store.

The Nashville, Tennessean reported that finalists for the property “are said to have included San Francisco-based national real estate investor Shorenstein Properties LLC, Houston-based real estate firm Hines Interests and Dallas-based development company Trammel Crow Co. The Tennessean speculated that the price could be consider between $90 million and $100 million, perhaps more.

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