White Lily Flats bought for $12.75 million

I hope you had a happy and blessed Easter and didn’t get fooled on April 1!

Nick McBride

In the 4-day work week ending March 28, 2024, a total of 1,548 documents were recorded. This included 238 Trust Deeds (loans) and 203 Warranty Deeds (property sales).

The trust deeds had a combined value of $145.71 million. At the top of that list was a huge loan in the amount of $51.33 million backed by CBRE Capital Markets Inc. There were five other mortgages valued at one million or more listed as follows:

The 203 property transfers recorded throughout the week had a combined value of $98.45 million. Eight of them were properties with price tags over $1 million and five of those were commercial properties.

Mesana Investments LLC made the list with another property sale to D.R. Horton, Inc. The new Fountain Pointe neighborhood, just off Fountain City Road in North Knoxville has 35 lots. The property was sold to DR Horton, Inc. for $2.28 million.

Jacksboro Pike apartments

Also in the north Knoxville area, the brick apartment buildings located at 5107, 5109 and 5021 Jacksboro Pike were among the high-value sales. A private party sold the complex to 5107 Jacksboro LLC for $3.18 million.

The White Lily Flats apartment building on N. Central in the Old City was the most expensive transfer of the week. White Lily Partners LLC sold the building to TW White Lily LLC for $12.75 million. The historic structure was built in 1885 and produced flour until 2008 when it was purchased, remodeled and turned into loft apartments.

West Town Crossing

The last two of the million-dollar sales are properties in the western part of the county. On Kingston Pike, across from West Town Mall, the West Towne Crossing retail center sold. This property which houses Firebirds Restaurant and 5th Nail Lounge sold for $8.27 million. One Falling Water LLC bought it from NLA Kingston LLC.

Finally, a 5.89-acre lot at 10308 Cogdill Road was sold by JDK Properties LLC to D&D Parent Inc. for $2.8 million.

To recap, March 2024 recorded 5,628 deeds. The 1,156 Trust Deeds (loans) had a combined total of $514.91 million. The highest value loan was funded by CBRE Capital Markets Inc. for $51.34 million. On the sales side of things, 904 Warranty Deeds were recorded at a total value of $418.46 million.

The most valuable property transfer in March was between Olde Raillery LP, Dominion Papermill LLC and Greenbrier Ridge Partners LLC. Greenbrier Ridge gave $52.25 million for the adjoining Papermill Square and Old Raillery apartment complexes.

Our year-to-date comparison chart has been updated through the end of March 2024:

If you haven’t already signed up for the FREE Property Fraud Alert program available to Knox County residents, now is a great time to do it. Just go to: alertme.knoxrod.org, then click on “Register Here” and follow the prompts. This program will send you an email alert if anything is recorded in the name(s) or the address you entered. You can also click on this link to take you directly to the website.

Have a great weekend!        – Nick

Nick McBride is register of deeds for Knox County.