$52.25 million for apartment complexes

Nick McBrideOn the Grow

Welcome to March! During the last full week of February 2024, 1,358 documents were recorded. Trust deed recording numbers came in at 331; the total value was $140 million. Twelve loans topped the million-dollar mark with the highest being funded by CBRE Capital Markets Inc. for $36.68 million. The others were:

Some of those loans may have been obtained in association with the Warranty Deeds we recorded. Those had a total over $156.05 million with eight sales over a million dollars. Two of those were apartment complex property transfers.

The Greenbrier Ridge and Papermill Square Apartments were transferred from Olde Raillery LP and Dominion Papermill LLC, the respective owners, to Greenbrier Ridge Partners LLC. The purchaser paid a total of $52.25 million for the properties.

Turner Homes LLC was involved in three of the 8 property transfers on the million-dollar list. The highest value transaction was the purchase of 123.93 acres on Couch Mill Rd in the Hardin Valley community. SH Couch Mill LLC sold the property to Turner Homes for “The Haven at Hardin Valley” subdivision for $5.1 million.

In south, Knoxville Turner Homes purchased 45 units in the Chapman Trace Townhomes neighborhood from BGD Development LLC for $2.92 million.

The third Turner Homes transaction was the sale of 9 units in the Bent Branch Subdivision on E. Copeland Rd in north Knoxville. Turner Homes LLC sold the units to Bent Branch LLC for $2.43 million.

The owner of The Halls Cinema Lonestar development company sold two parcels of property at 3800 & 3802 Neal Drive to Gerber Real estate Inc for $1.95 million.

Further north at just across from Tell Mynatt Road off Maynardville Pike, a 60-acre property was sold to Heritage Land Development Partners LLC for $1.65 million.

Check out our four-year comparison chart. January and February are historically the slowest months of the year for property sales.

I’ve been asked to serve as a speaker for many clubs and association meetings and would be happy to do the same for yours. Just give me a call at the office at 865-215-2330 to schedule.

Have a great weekend! – Nick

Nick McBride is Knox County register of deeds


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