I hope you all had a nice weekend. I know the staff of the Register’s office enjoyed the break after their busy week; we recorded a total of 2,004 documents!
These included 308 warranty deeds that had a combined value of $121.72 million. Of those sales, 16 were for properties valued at $1 million or more, and of those, 11 were commercial properties. And, once again, apartment complex sales are the highest value purchases of the week. The Knoxwood Hills Apartments on Wimpole Avenue in East Knoxville were sold by Knoxwood Holdings LLC to 2627 Wimpole Ave. LLC for $11 million.
Nick McBride
The second highest value property transfer between CICA LLC and Market Morningside LLC included four apartment buildings/complexes. Three of these are on Magnolia Avenue, including the Graham Apartments, and both buildings are referred to as the Magnolia Apartments. This $6.2 million dollar property transfer also included the Morningside Hills Apartments on Dandridge Ave.
Core Knoxville Lake LLC purchased two properties last week. The first, 1912 Cumberland, was sold by J & N Holdings LLC, who purchased the properties in August 2021. The second purchase was 817 19th Street. Sold by the Latimers, Core Knoxville Lake LLC paid $1.25 million for this building.
Coincidentally, the Taco Bell on Cumberland Ave, located right next to the property purchased by Core Knoxville Lake LLC, was another high value property to change hands. RTR Partners sold the property that they purchased in 2012, to Cadet 10 LLC for $2.8 million dollars. It looks like RTR Partners LLC may be getting out of the Taco Bell business, as they also sold the location on Merchant Road (corner of Davida) to Border Bell on Merchants LLC for $2.8 million.
Other million dollar plus property purchases last week included: HV West LLC selling four more houses in the Windermere Trails subdivision in the Hardin Valley area to TN Hardin Valley LLC for $1.62 million. And Tommy’s Knoxville sold a piece of property on Outlet Drive to Store Master Funding XVIII LLC for $1 million.
Bentley Marlow refinanced his 19 properties in the Mechanicsville area with Lendingone LLC for $3 million.
The lenders and title companies sent in 507 trust deeds for recording. These 507 deeds carried a total of $163.64 million dollars with 13 of those being for funds over $1 million. Berkadia Commercial Mortgage funded the largest loan of the week at $11 million, and Horizon Bank SSB funded the second highest loan in the amount of $9.285 million. Lakeside Bank sent in the third largest loan at $7.35 million. The others were:
Our year-to-date numbers are like last week’s totals in that we recorded fewer documents, but the dollar amounts are much higher compared to the prior years:
If you need a speaker at your next meeting, please give me a call at my office, 865-215-2330. I’d love to meet you and your groups to present the most up-to-date information about the real estate in your area and in Knoxville in general. I’m also on Facebook so look me up here, then please like and share the page. Have a great week!!!
Nick McBride is register of deeds for Knox County.