The beginning of last week concluded the month of April, so I’ll recap those numbers first. A total of 6,366 documents were recorded including 1,351 Trust Deeds and 1,065 Warranty Deeds. The loans issued in April had a total value of $584.05 million. The highest loan was funded by D4 Villas LLC for $71 million. US Bank NA backed the second-highest loan for $70 million and First-Citizens Bank and Trust funded the third-highest value loan for $34.5 million.
There were 1,065 property sales in April, amounting to $543.57 million. Of these sales, 35 properties were sold for one million dollars or more. The highest-priced property sale was the Quarry Trail Apartments, which sold for $89 million. The second most expensive property was the Westrock building on Parkside Drive which went for $27 million. The third highest value transfer was the Clinton Highway property of Reeder Chevrolet which sold for $15.2 million.
Switching to last week’s information, 1,532 documents were recorded during the week ending May 3, 2024. Trust deeds accounted for 376 of the total recordings and had a combined value of $107.92 million. The largest loan of the week was $3.65 million backed by CB&S Bank. The other five mortgages over one million dollars were:
Last week we recorded 321 Warranty Deeds (property sales) with a total value of $130.57 million. There were 9 properties with price tags over one million, but only three were commercial transactions. The most valuable property sold was Creekview Health and Rehab at 3300 N Broadway. Knoxville Propco LLC sold the property to 3300 North Broadway Street TN LLC for $5.66 million. Knoxville Propco LLC originally purchased the property in 2019.
D.R. Horton Inc. invested in two different neighborhoods last week. In the second-highest purchase of the week, the company added 55 lots to the Sonesta neighborhood in Farragut by purchasing the parcels from S&E Properties for $4.12 million. The third commercial transfer was between Alliance Development Partners GP and D. R. Horton Inc. The development group sold 21 lots in the River Pointe neighborhood in Mascot for $1 million.
The year-to-date comparison chart is updated through Friday, May 3.
Don’t forget Mother’s Day is this weekend! You can help give her peace of mind concerning her property with our Free Property Fraud Alert program. It only takes a few minutes to sign yourself and your mom up for the program available to all Knox County homeowners. Just visit https://alertme.knoxrod.org and follow the prompts to sign up. It’s FREE, you’ll be notified by email only if something is recorded in the names you have listed. This allows you to take action, if in fact it is a fraudulent filing, or even if it is a legitimate filing that needs your attention.
Happy Mother’s Day! – Nick
Nick McBride is register of deeds for Knox County