November 30, 2023
Last week we recorded 1,403 documents. Property sales totaled 264 of the transactions on land that had a cumulative value of $170.22 million. Out of these, 17 transactions were priced over a million dollars: 13 private transfers and 4 commercial properties.
If you want to make a quick $21 million, just buy an apartment complex for $35.75 million, hold it for two years and put it up for sale. That is exactly what 303 Flats LLC did last week. They bought the 303 Flats apartment complex located at the corner of W. Blount Avenue and Chapman Highway in August 2021. Last week it sold to HRA 303 Flats LLC for $56.86 million!
In West Knoxville’s Amherst area, a new neighborhood has been transferred to D.R. Horton, Inc. The 40-lot Cain Vista subdivision on Cain Road was sold by Elite Construction LLC to D.R. Horton Inc. for $2.7 million.
Further west, a 14-acre lot sold on the corner of Sherrill Road and Christian Academy Drive. TOC Properties bought the property from Parker Properties Inc for $5.76 million.
On the lending side of things, 318 Trust Deeds were recorded with a total value of $157.69 million. The largest loan, which was $40.5 million, was funded by Northwestern Mutual Life Insurance Company. Protective Life Insurance Company loaned $13 million and Greystone Servicing Company LLC funded a loan for $7.2 million.
There were three high-value loans from First-Citizens Bank and Trust Company, with amounts of $5.74 million, $1.3 million and $1.25 million. The others:
The three-year comparison chart has been updated:
You may be hearing about property fraud on different media outlets and wonder what can be done to prevent it. The Knox County Register’s office has a Property Fraud Alert Program in place to offer peace of mind about the security of your property. This is an email alert program that will send an email any time a document is recorded in your name. If it were an unexpected transaction, calling to find out what was recorded would be your first step. It is easy to sign up, follow this link or go to: https://alertme.knoxrod.org, then click on “Register Here” and follow the prompts. We are happy to answer any questions you may have and if you have trouble signing up via the website, feel free to call us at 865-215-2330.
Please note that our office will be closed Monday, May 29, in observance of Memorial Day. Enjoy your weekend! – Nick
Nick McBride is register of deeds for Knox County.