Student housing complex valued at $89.59M

During the last full week of April 2024, 1,235 documents were recorded in total. This included 294 Trust Deeds (loans) and 212 Warranty Deeds (property sales). The total value of the properties recorded on the Trust Deeds was $145.74 million with three loans over $1 million.

Home Federal Bank of Tennessee funded a loan for $1.65 million and Smartbank backed a loan for $5.04 million. The largest loan of the week was for a whopping $70 million funded by U.S. Bank National Association.

That $70 million loan went hand-in-hand with the highest-value property transfer of the week. Bayou Park TIC LLC and Dorel Laredo TIC LLC sold the Quarry Trail Apartments at 3999 Highland Crest Way in South Knoxville. Quarry Trail SPE LLC purchased the large student housing complex for $89.59 million.

The other large commercial property transfer was The American House Assisted Living in Halls at 7521 Andersonville Pike. Mainstay Healthcare National Pike LLC bought the property from Knox Realty Propco LLC for $2.6 million.

Six other properties changed owners at a ticket of $1 million or more, all being residential.

If you are in the market for a new home and are having a hard time finding one, don’t give up! Even with interest rates for a 30-year mortgage at 7+ percent, we are seeing many new homeowners in the area, and new neighborhood plans come across our desks weekly.

The comparison chart has been updated below and includes data through April 26, 2024.

Now is a good time to sign up for the FREE Property Fraud Alert program that is in place for all Knox County homeowners. Just go to this website, click Register Here and follow the prompts. It is easy, and it is free peace of mind for you. If anything is recorded in your name you will be alerted via email and can then act if necessary.

Have a great weekend!             
– Nick

Nick McBride is Knox County register of deeds