May 2023: Biggest sale 303 Flats for $56.8 million

Nick McBrideOn the Grow

Time seems to be flying by as we enter another new month. Summing up the information from May 2023: 6,056 documents were recorded in the month, including 1,357 Trust Deeds (loans) and 1,115 Warranty Deeds (property sales).

Nick McBride

The loans had a combined value of $715.14 million. The largest of those, $80.6 million, was funded by Synovus Bank.

Property sales for the month had a combined value of $535.13 million with the largest property transfer of the month being the 303 Flats on Blount Ave & Chapman Highway, which sold for $56.8 million.

Holiday weeks are often slower than others but during the 4-day Memorial Day week we kept busy recording 1,233 deeds. 318 were loans with a combined total of $131.73 million. Ten loans had values over one million dollars, with the highest of the week being $14.35 million. First-Citizens Bank & Trust funded that loan. The second-highest loan came from Community Trust Bank in the amount of $6.23 million. The others:

We recorded 284 property transfers last week which had a combined value of $128.69 million. There were only 2 commercial transactions topping a million dollars. The most expensive was the Extended Stay America on Parkside Drive. ESH/TN Properties LLC sold the hotel to Grand Hospitality LLC for $8.43 million.

1128 Weisgarber

The second largest sale was the medical office building at 1128 Weisgarber Rd. The new owner, Weisgarber Road Neuro ASC Properties LLC, purchased the property from University Health System Inc. for $3.66 million.

The current update of the four-year comparison shows the number of sales.

If you have any upcoming neighborhood homeowners’ meetings or civic club meetings and you need a speaker, I have dates available throughout the summer. Just give me a call at the office to plan a date. Also, now is a good time for you to sign up for the FREE Property Fraud Alert program. This is in place for your protection and it takes only minutes to sign up online. The program will alert you via email if any documents are recorded with your name on them so that you will have immediate knowledge and can address it if necessary. Just follow this link by clicking on it or visit this website and follow the prompts to sign up.

Have a great weekend!        – Nick

Nick McBride is register of deeds for Knox County.


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