$128.5 million loaned in four-day week

During the four-day week of January 21-24, 2025, 1,117 new documents were recorded. These included 219 trust deeds (loans) worth a combined value of $128.5 million with 10 loans over one million dollars. The two largest loans of the week were backed by Celtic Bank Corporation with one coming in at $16.8 million and the next at $4.89 million. Three Roots Capital was third on the list with a loan of $4.5 million.  The other high-value loans are as follows:

On the sales side of real estate, 157 property transfers (warranty deeds) were submitted, totaling $91.27 million. Out of these, 11 properties sold for more than $1 million. Four of those were commercial properties.

The most valuable transfer of the week was a health and rehabilitation facility located on Lyons View Pike. Westmoreland Real Estate Investors LLC, which owned the facility since 2017, sold to Smoky Mountain Realty LLC for $28 million.  It is now Lyonsview Health and Rehab.

D.R. Horton Inc., which is one of the largest home builders in America, made another big purchase last week. The company purchased 28 lots in the Belhaven Subdivision off E. Emory from Mesana Investments for $1.82 million.

The River and Rail Theater Company made a large purchase last week, buying two adjoining properties on E. Magnolia and Fifth Avenue. The Courtland Group LLC sold the two parcels at 2651 E. Magnolia and 2610 E. Fifth Avenue, which will likely be the new home of the theater, for $1.65 million.

The apartment house at 1804 White Avenue joined the list of five other properties in the Cumberland Avenue area purchased by Core Knoxville 18th LLC. Each of the properties is in the block with the now-closed Copper Cellar restaurant. MED LLC sold the building located behind the restaurant to Core Knoxville 18th LLC for $1 million.

The year-to-date comparison chart has been updated through Jan 24, 2025:

If you haven’t signed up for the Property Fraud Alert Program, now is a great time to take a few minutes and enroll in the FREE program. Enroll by visiting: here. Follow the prompts to enroll for FREE peace of mind about your property’s ownership. If documents are recorded in your name, you will receive an email alert to which you can respond if necessary.

Have a great weekend!       – Nick

Nick McBride is register of deeds for Knox County