Loans valuing $230M during short week

During this Memorial Day week, we give thanks and count our blessings, remembering those who paid the ultimate sacrifice for this country and our freedoms. We are forever indebted. They are never forgotten.

The week of May 16-23, 2025, concluded with 1,532 documents added to the county property records. Of those, 344 were trust deeds (loans) with a combined value of $230.49 million. There were 11 loans funded for over $1 million, with the largest at $7.04 million, financed by First Community Bank of East Tennessee. A private party funded the second highest for $6.5 million. The third largest came in at $5.38 million and was backed by Old National Bank. The other loans for $1 million or more are outlined below:

Property transfers recorded on warranty deeds accounted for 241 of the total recordings. The transfers represented a cumulative value of $114.88 million. Fourteen came in with prices over $1 million and six of those were commercial properties. The largest property and one of the most expensive is in East Knoxville on Asheville Highway. A private party sold 129 acres surrounding the Riverview Crossing retail center for $6.5 million. 6125 Riverview LLC is the new owner of that property. I believe there are plans to build a sports complex on the site.

Nick McBride

Also coming in with a price of $6.5 million is a hotel at the corner of Merchant Drive and Central Avenue Pike. Shree Gansesh Hospitality sold the new Spark by Hilton hotel to OM Knoxville Central LLC.

The price of the third most expensive property might surprise you – the parking lot at 400 State Street went for $4 million. The lot, which sits between Marble Alley Lofts and the State Street parking garage, transferred from Marble Alley Development LLC to Vintage CAL Owner LLC for $4 million.

In Farragut, the Home Trust Bank building at 11916 Kingston Pike changed hands. Home Trust sold the property to Apex Bank for $2.33 million. The last of the high-value commercial property transfers was a small condo development behind the Siegel Select Hotel on Middlebrook Pike. MDT Construction LLC sold the buildings on Logan Avenue to LM Bell Properties LLC for $1.49 million.

Our year-to-date comparison chart has been updated:

If you have concerns about your property deeds, signing up for our FREE Property Fraud Alert program is one way to stay informed about any changes. After enrolling, any documents recorded in the names you have registered will generate an email notification, allowing you to act quickly if fraud is involved. To enroll, go to: https://alertme.knoxrod.org. Tell your friends and family about this free service!

Have a great weekend!       – Nick

Nick McBride is register of deeds for Knox County.