Wellsley Park at Deane Hill brings $97 million

Nick McBrideOn the Grow, West Knoxville

It was great having a day off to relax with family and friends – I hope you were able to do the same.

Recapping August 2022, we recorded 7,346 documents, including 1,330 property sales. Those Warranty deeds had a total value of $591 million. Loans made up 1,846 of the total number of documents with a total value of $714 million.

Details on the week that just ended include the recording of 1,718 documents. 386 of those were Trust Deeds (loans) that had a combined value of over $201 million. The largest loan for the week was $67.66 million and was funded by Sumitomo Mitsui Banking Corporation. Two loans came in around $11 million: Citizens Bank loaned $11.25 million and Builtwell Bank made a loan of $11 million. Citizens Bank had another on the list of million-dollar loans last week – funding a loan of $7 million. The other banks with loans over a million:

Property transfers kept us busy last week – 326 were recorded with a total value of over $239 million. We had 7 properties were valued over $1 million.

Topping the list was another apartment complex and this one for almost $100 million dollars! Paradigm Knoxville Apartments LLC et al, sold The Wellsley Park Apartment Homes in the Deane Hill area to SNOW PROPCO LLC for $97 million.

Three of the other property transfers kept the folks at Boghani Properties busy signing documents. Hill Avenue Properties sold the Cityscape Office Complex at 900 E Hill Ave to Boghani Properties LLC for $9.35 million. Hatcher Hill Properties sold the JC Penney Condominium Building which occupies 416 S Gay Street for $6.3 million and 9 Market Square LLC sold the Ziegler building at 9 Market Square (bottom floor occupied by Soccer Taco) to Boghani for $3.8 million.

On Cain Rd in West Knoxville, a 6-acre plot was purchased from a family partnership by I Farm LLC for $1.5 million. Also in West Knoxville, a 5.5-acre portion of the property owned by Pellissippi Dutchtown General Partnership, between Dutchtown Road and Sherrill Blvd, was sold to CP VI LLC for $1.2 million. And the last commercial property to change hands was between Knox County and Sutherland LLC, which purchased the Sutherland Mobile Home Park, located at 2711 Sutherland Ave, for $1.05 million.

Have a great week!

Nick McBride is Knox County register of deeds

 

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