Happy bankers loan over $178 million in short week

Last week started with the final day of June and ended with Independence Day on Friday, July 4. These factors combined to make a very busy week for our office and the real estate community. We recorded 1,411 deeds in total, 16 more than the week prior, in just a four-day work week. This included 334 loans, or trust deeds, and 281 property sales recorded on warranty deeds.

There are many happy bankers this week as the 334 loans had a combined value of $178.65 million. That is over $50 million more in value captured in only 16 additional deeds. Topped by a $41 million loan from Delaware Life Insurance Company, there were 20 loans over $1 million! Protective Life Insurance Company loaned $9 million, 1st Source Bank $8.13 million, and one private mortgage was recorded at $4.1 million.

On the sales side of real estate, last week’s 281 warranty deeds had a combined value of $129.75 million. Nineteen were priced at over $1 million. However, only three of those were commercial transactions.

Proffitt Properties recorded the most expensive deal of the week in the Karns community. The 6-acre parcel and building at 6975 Karns Crossing Lane were sold to GLES Partners for $4.1 million.

Next on the list, a private party sold 13 rental houses to PC Investment Properties LLC for $2.25 million. The third commercial property is located just off Lovell Road and is currently occupied by the non-profit organization Helping Mamas Knoxville. Knox C-Store Pro LLC sold the building to Sims Property Group for $1.33 million.

The year-to-date comparison chart has been updated as of July 4, 2025:

To recap June 2025, we recorded a total of 6,104 documents. There were 1,409 trust deeds valued at $610.67 million. Delaware Life Insurance Company led all lending with a $41 million loan from last week, followed by a $30.48 million loan from Colliers Mortgage LLC. Four others exceeded $10 million: Midcap Financial Trust with $23.98 million, JP Morgan Chase with $17.2 million, CBRE Multi-family Capital with $14.5 million, and Commercial Bank with $11.74 million. Additionally, there were 71 other loans over $1 million.

Over 1,000 properties changed hands in June – 1,093 to be exact. Coming in as the most expensive transaction was MM Mockingbird Meadows LLC. They purchased lots and common areas in Mockingbird Meadows, a neighborhood of rental homes on East Emory Road, for a cumulative $22.7 million.

St. John’s Cathedral made the second largest purchase – the parking lot on the corner of Walnut Street and Clinch Avenue, for which they paid $10.6 million. The third most expensive property was Cedar Ridge Holdings LLC’s purchase of the Cedar Ridge office building on Cedar Bluff Road for $10.5 million.

If you haven’t already signed up for the FREE Property Fraud Alert program offered to all Knox County property owners, now is a great time to do so. Visit https://alertme.knoxrod.org and follow the prompts to enroll. If documents are recorded in the names you register, you will receive an email notification, allowing immediate action if necessary.

Have a great weekend!        –  Nick

Nick McBride is register of deeds for Knox County.