Crown Plaza Hotel tops loans at $26M, sold for $30M+

In the final week of July 2025, the office recorded 1,498 documents. Included in the total were 374 loans, or trust deeds, with a combined value of $132.99 million. The highest-value loan of the week was $25.52 million, funded by Citizens National Bank for the purchase of the Crown Plaza Hotel on Summit Hill Drive. That property was also the most expensive property transfer of the week which we will visit again in a minute. The next largest loan, valued at $6 million, was funded by Encore SFR Finance, LLC. Community Trust Bank backed the third largest loan for $3.5 million. The other loans over $1 million are as follows:

The 244 property sales (warranty deeds), which had a total value of $142.69 million, included 12 that exceeded $1 million. The most expensive was the Crown Plaza Hotel on Summit Hill Drive. Knoxville Hotel Associates, LLC, sold the hotel to Sachchidanand Hotel Summit LLC for $30.30 million. Over the years, the Crown Plaza Knoxville has won prestigious awards for its excellence in hospitality and its management team.

Another high-value sale was 909 Osprey Point Lane. Located near the intersection of Northshore Drive and Pellissippi Parkway, the 2-acre lot with a retail center was sold by a private party to VSC Investments, LLC for $5 million.

Café International, LLC sold nine properties in Northeast Knox County to The Preserves, LLC. Three are on Loves Creek Road, two in the Beverly Park area, two on Rifle Range Road, one on Ridgeview Road, and one on Shannon Lane. They sold for a cumulative $3.7 million.

Pinnacle Bank at S. Campbell Station Road and Brooklawn Street in Farragut changed hands. PNB TN Portfolio Owner, LLC sold to FLM & M, LLC for $2.2 million.

The final commercial transfer on the list is at the corner of S. Gallaher View Road and Westland Drive in West Knoxville. National Gas Distributors, Inc., sold the 4-acre property at 860 S. Gallaher View Road to Holston Gases, Inc. for $1.35 million.

The year-to-date comparison chart has been updated as of August 1, 2025:

Recapping July, a total of 6,346 documents were recorded. New loans accounted for 1,492 transactions valued at $482.4 million. The highest value loan of the month was $9 million, funded by Protective Life Insurance Company. Second on the list was $6.8 million provided by Encore SFR Finance, LLC, and the third was $5.08 million loaned by Mountain Commerce Bank.

Property sales made up 1,078 of July’s total documents. The total aggregate value was $481.88 million! The most expensive sale of the month was the Emory Station retail center on E. Emory Road, which sold for $7.3 million. The next high-value commercial property, 11470 Outlet Drive in West Knoxville, sold for $6.35 million. The third largest transfer was 909 Osprey Point Way at Pellissippi and Northshore, which sold for $5 million.

If you haven’t signed up for the free Property Fraud Alert program, now is a great time to do so. Enrolling is simple, just visit our website at https://alertme.knoxrod.org and follow the prompts. The program sends an email alert only if documents are recorded in your name, giving you the opportunity for quick action if necessary. Again, this is a FREE program that allows peace of mind about your property title.

Have a great weekend!

Nick