It’s always nice to have a Monday off, but I believe the four-day workweek that follows is equally pleasant. During the last week of August 2024, 1,419 deeds were recorded. These included 295 Trust Deeds (loans) and 238 Warranty Deeds (property sales). The loans had a combined value of $158.65 million. The highest-value loan of the week was $26.09 million funded by Walker and Dunlop LLC. The second largest loan was backed by CBRE Multifamily Capital LLC for $12.2 million. There were 10 other loans valued over $1 million with the lenders listed below:
Last week’s property transfers had a cumulative value of $109.21 million. There were 14 sales with prices exceeding $1 million, including five commercial properties. The most expensive sale was 324 N. Peters Road in west Knoxville, which houses Cararabba’s Italian Grill and Outback Steakhouse. FCPT Holdings LLC purchased the property from LCN BLM Las Vegas (Multi) LLC for a sum of $6.67 million.
Property of Farragut Animal Clinic
The second most valuable transfer totaled $3.52 million. On that exchange Bethel 22 Properties LLC and Hadu and Family LLC purchased 22 rental properties from AYR Properties SEP LLC.
Next, Eagle Bend Development sold 21 lots to D.R. Horton Inc. for $1.43 million. So, I would expect the Isabel Estates neighborhood in the Gibbs Community will soon have more homes.
The owners of the former Farragut Animal Clinic at 10226 Kingston Pike sold that property to United Rentals (North America) Inc. for $1.4 million.
Unused lots are getting harder and harder to find because developers are snatching them up as quickly as possible. The vacant land at 5706 Clinton Highway is another example of this where the 2.3-acre lot near Merchant Drive was just sold. Setaliaveer LLC transferred the property to Clinton Self Storage LLC for $1 million.
In conclusion for August, 6,210 documents were added to the public records. There were 1,034 property transfers durin the month totaling $424.83 million. The highest valued property was the sale of the Carraba’s/ Outback properties last week. As for loans, 1,368 new trust deeds were recorded on the month with a cumulative value of $543.28 million. The largest loan recorded in August was $46 million funded by Northwestern Mutual Life Insurance Company.
Our year-to-date comparison chart has been updated as of Friday, August 30, 2024.
Since it’s a new month, why not take this opportunity to protect your greatest investment, your property? Our Fraud Alert program will alert you via email when something is recorded in the names you have registered. That is the only time you would hear from us. Signing up is easy. Go here and follow the prompts for FREE peace of mind.
Have a great weekend! Nick
Nick McBride is register of deeds for Knox County, Tennessee.