Falling interest rates will keep register’s office busy

Nick McBrideOn the Grow

It was a big week for two companies last week – the acquisition of the shopping center adjacent to Walmart on Clinton Highway was a great sale and a great purchase for the companies involved.  DFG-Knoxville LLC sold this center to Northwest Crossing LLC for $12.25 million. Northwest Crossing also had the largest loan of the week for this purchase, borrowing $9.8 million from Knoxville TVA Employees Credit Union.

Nick McBride

The total for the 227 property transfers this week was $69.48 million.

With the lower interest rates that are in place right now, I know that more and more loans will be recorded in the next few weeks. Last week we recorded 412 loans totaling $99.2 million. The next highest loan after the Northwest Crossing transaction was a $2 million refinance by Knox Trailers Inc. and R&S Properties Partnership for two properties located at 2600 and 2607 Middlebrook Pike. This was financed through Regions Bank.

We have had many questions concerning the operation of our office. I fully understand the responsibilities that this office carries concerning the economy and am dedicated to keeping it in operation while ensuring the safety of the staff.

Nick McBride is register of deeds for Knox County.

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