Best flip: $7.62 m to $10.5 m in one day

The end of the month is quickly approaching. The third week of July’s total of 1,404 recordings included 242 property transfers (Warranty Deeds) and 291 loans (Trust Deeds). 

The Trust Deeds equaled $124.05 million and included nine loans over a million dollars. The highest-value loan was backed by Truist Bank for $29.78 million. Mountain Commerce Bank loaned $8.9 million, and Mountain Valley Bank recorded a loan for $5.3 million. The others were under $2 million:

Last week’s most valuable transfer involved a purchase and sale within a day. TRP LLC sold the Tanglewood Apartments (which will now be called Rand on Tillery) on Tillery Road to 4501 Tillery LLC for $7.62 million. The following day, 4501 Tillery LLC sold the same property to Rand at Tillery LLC for $10.5 million. That’s a great return on investment!

Another sale was the AMC Theater in East Knoxville. It was sold by American Multi-Cinema Inc to EMK Investors for $3.4 million. It has been reported that the theater will be razed, and the property will be used for an apartment complex. 

And the third transfer that pertains to apartments was the purchase of the Kimberly Apartments on Belvedere Avenue in South Knoxville. 1009 Holdings 2022 LLC sold the two buildings to Nexus Partners LLC for $1.18 million.

In the Northshore Drive area, Brown Bear Properties sold the building leased by the Animal Welfare and Rehabilitation Center located at 6221 Kingston Pike to CapTN Knox LLC for $1.1 million. 

And in West Knoxville, The Auto Club Group sold the building located at 110 Capital Drive to Connell Properties for $2.9 million.

That sums up the week’s information. So far this month we have recorded 3,843 documents, and the three-year comparison chart has been updated:

Our new website features all things property related. Anyone interested will be able to find sales, prices, foreclosures, mortgage lending information and sales analysis that measure the strengths and weaknesses of the current market. You can also sign up for our property fraud alert program and our weekly real estate transfer report. The property fraud alert program will notify you if a document is recorded in your name, giving you the advantage of finding out immediately about any activity. Call the office if you have questions 865-215-2330. Since your largest investment is probably your home, please take this opportunity to protect it against fraudulent transactions.
You can visit our new website @ https://rod.knoxcounty.org/

Have a great weekend – Nick

Nick McBride is register of deeds for Knox County.