February 22, 2024
Last month a total of 4,434 documents were recorded. Of those, 904 were loans (Trust Deeds) that had an aggregate value of $297.86 million. The largest loan of the month was valued at $28.67 million and was funded by JPMorgan Chase Bank.
We recorded 682 property transfers last month that totaled $280.27 million. The highest price tag on a piece of property to sell in January was $8 million. That purchase was by Keystone Hospitality LLC, the new owner of The Sonesta Simply Suites hotel on Parkside Drive.
Looking a little more closely at just the last week of January, 1,294 documents were recorded in total. For the financing side of real estate there were 302 loans totaling $102.66 million. The highest value loan of $10.51 million was backed by Colliers Mortgage LLC. Renasant Bank funded a loan for $3.83 million and Home Federal Bank of Tennessee backed one for $2.55 million. There were also several other loans over one million dollars:
Moving over to property transfers, we recorded 223 Warranty Deeds with a total value of $280.27 million. The highest value transfer of the week was the 58,000 square foot office building at 410 N Cedar Bluff Road. Kana Hotels Inc. purchased the property from Knoxville Building Owners for $7 million.
The second largest sale was five multi-family dwellings at 3100-3134 E Gov. John Sevier Hwy. GDP Properties LLC Series 706 purchased them for $2.1 million.
Residential neighborhood developer S&E Properties LLC purchased 12.72 acres on Fretz Road. This West Knox property located off N. Campbell Station Road sold for $1.2 million.
Off of East Emory Road in North Knox County, 68 acres on Dixon Springs Lane changed hands. A private party sold the land to White Properties III LLC for $1.65 million.
A 9.88-acre parcel of land on Bob Gray Road facing Pellissippi Pkwy sold this week as well. A. Horobet purchased the property for $1 million.
In East Knoxville, Dominus Investments LLC sold 21 rental homes. The homes sold to Pocahontas Properties LLC for $1.8 million.
Quality Bakery Products LLC sold two parcels to 2425 Burnside Street LLC for $1.3 million. One lot has an existing building and the other is a vacant lot currently used for truck storage.
The last transfer to report was the sale of the property next to the Goodwill & Dollar General store at 7659 Clinton Highway. Ben BZ Storage LLC collected $1.83 million from 7659 Clinton Hwy LLC on the deal.
The comparison chart is updated through last Friday.
Spring is coming! Along with it, neighborhoods and civic groups will ramp up meetings and gatherings. If you need to schedule a speaker, call the office and we can get it on the calendar. The number is 865-215-2330.
Check out our new website and while you’re there, take the opportunity to sign up for our FREE Property Fraud Alert program. It is available to all Knox County homeowners. Just go to: https://rod.knoxcounty.org/ where you can find the link to sign up for the program and see current stats.
Have a great weekend! – Nick
Nick McBride is register of deeds for Knox County