Multi-family housing properties still hot

Ho, Ho … How can it be the middle of December already? Quite a few people are moving into new homes for the holidays as evidenced by the 209 property transfers that were recorded last week. These sales included seven over $1 million and had a total value of $86.8 million.

Nick McBride

Two multi-family housing units were among the highest-priced commercial properties sold. The Reserve at Third Creek was sold by BPI Keystone Partners LLC. LNC Reserve LLC purchased the property for $4.92 million. The other was Liberty Manor Apartments at 1800 Liberty Street. That piece of real estate sold for $3.69 million. LNC Liberty View LLC purchased the property from LV Knoxville Partners LLC.

Two properties owned by Grassy Creek LLC were also on the list of high value transfers. The first consisted of three lots in the Grassy Creek Center on Oak Ridge Hwy/Schaad Rd. They sold to Strange Enterprises, LLC for $1.94 million. This property is home to Creekside Knox, an outdoor dining and event venue. The second property is a cleared 1.44-acre lot just across Schaad Rd. A local real estate investor purchased the land from Grassy Creek LLC for $1.7 million.

The Liberty Manor apartment complex at 1800 Liberty Street was bought for $3.69 million

Another west Knoxville property on the list is visible from I-40, at 8320 E Walker Springs Ln. The Mortgage Investors Group building was sold by MIG Building Partners to O & M Holdings, for $5.8 million.

Lenders recorded 234 loans with a total value of $78.9 million. Three of the largest loans were backed by Pinnacle Bank. However, the largest was funded by Walker & Dunlop, LLC at $12.34 million. The others are as follows:

We continue to track the transfer and mortgage data over the last three years; the chart has been updated as of December 8.

While you’re shopping for everyone else this year, consider giving yourself the FREE gift of property protection. Our Property Fraud Alert program, free to all homeowners in Knox County, is easy to sign up for. No spam of any sort is generated, and you’d only hear from us if your name was part of a recorded transaction in our office. Just visit our recently upgraded website: https://rod.knoxcounty.org/ where you can sign up for the Property Fraud Alert program, check out sales numbers, and even meet the staff.

Have a great weekend! – Nick

Nick McBride is register of deeds for Knox County.