Scripps/Discovery property changes hands

Nick McBrideOn the Grow

Loans and Warranty Deeds are just two of the types of documents we record every week. Last week’s 1,162 recordings included not only 265 loans and 211 Warranty deeds but also 284 release documents, 70 liens, 19 Durable Power of Attorney documents and many others.

Nick McBride

Those 211 property transfers had a combined value of $106.87 million and included 10 with price tags over $1 million; six were commercial properties.

In the largest transfer of the week, Apex Bank sold a parcel of the property purchased from Scripps Network in March 2023. AS Realty I LLC purchased the 10-acre parcel at 550 Frank Gardner Ln, which includes an office building and parking structure, for $27 million.

The Extended Stay America hotel on the corner of Winston Rd and Ray Mears Blvd was another high-value property on the list. ESH/TN Properties LLC sold the hotel to Rama Corbin LLC for $5.28 million.

In the same area of town, Captivis Inc. sold an office building off Gleason Drive. Captivis Inc. made the transfer of 450 Montbrook Ln. to De Maximis Inc. for $2 million.

The building at the corner of Clinch Ave and 16th Street was one of the commercial properties changing hands last week. Market Scott LLC sold the building to FSI Investments LLC for $1.95 million.

11.75 acres next to Morning Pointe of Hardin Valley Assisted Living on Reagan Rd was sold by Hardin Valley Development Partners LLC. Hardin Valley Alzheimer’s Investors LLC purchased the property for $1.75 million.

Undeveloped property at the corner of Strawberry Plains Pike and Pine Grove Road in East Knoxville, two parcels equaling 9.25 acres, were transferred last week as well. Bell, Riley, Sherrod Properties LLC sold the two parcels to Treetop Enterprises LLC for $1.3 million.

Included in the 265 loans recorded, with a total value of $110.5 million, were nine loans over $1 million. The largest loan was for $22.95 million and was funded by Tennessee State Bank. Cornerstone Commercial Mortgages LLC was second on the list with a loan for $11 million, and Crown Investors GP loaned $7 million. The others:

The three-year comparison of loans and property sales is updated as of 10/20/23. It seems like 2021 was the year to re-finance loans!

If your HOA would like a speaker for your next meeting, give my office a call, 865-215-2330. Visit our new website to learn more about the free Property Fraud Alert program, Real Estate Transfers, our new Fee Calculator, and a number of other useful resources:

Have a great weekend and GO VOLS!      – Nick

Nick McBride is register of deeds for Knox County.


Leave a Reply

Your email address will not be published. Required fields are marked *