Historic Knollwood sells for $2 million

Nick McBrideOn the Grow

Happy Thanksgiving week to you and yours. I know my staff is looking forward to this holiday of thankfulness. I am very thankful for my wonderful family, the citizens of Knox County and the great staff of the register’s office. I am very blessed.

Last week was a busy one in our office, recording 497 loans with a value of $161.47 million and 304 property transfers that carried a value of $114.4 million. This week five properties sold that were valued at over $1 million; three of those were commercial properties.

Nick McBride

One of the most prominent and recognizable properties changing hands has been watching over Knoxville since 1851. The stately, historic Knollwood Home, perched atop Bearden Hill, is included in the National Register of Historical Places. This property was sold by Schaad Commercial Investments LLC to Knollwood Historic Preservation LLC for $2 million. This means it will stand watch over Knoxville for a long time to come.

Another commercial property that was sold during the week was 101 GlenLeigh Court, which is in Farragut not far from Lovell Road. Currently a medical office, this property was owned by 100 Jimmy Love Lane LLC who sold it to FSC BCBS Knoxville TN LLC for $3.56 million

Everest Cross Creek LP sold the highest value property of the week, which they had owned since 2003. Yes, another apartment complex has changed hand s— this one with a price tag of $20.2 million. Cross Creek TN LP is the new owner of Cross Creek apartments, located on Western Avenue.

As I mentioned, the bankers and title companies were busy, closing 497 loans in the week. That doesn’t include all the documents that they draw up including quit claim deeds, loan modifications, loan releases and many others. In fact, last week we recorded a total of 1,932 documents of all types.

Thirteen loans over $1 million dollars were among the 497 recorded. The highest value loan was $11.6 million and was funded by Walker & Dunlop LLC. The others were:

I was looking over the total amount of money that has been loaned just this year, and I am still amazed. The value of the trust deeds we have recorded so far in 2021 is a billion and a half dollars more than we recorded at the same date last year! Warranty deed values are also up by a billion dollars from this same date last year, and the numbers are still climbing. Just look at these year-to-date comparisons:

I hope we will break these records again in 2022. That would be great for our county, so let’s keep our fingers crossed.

Earlier I mentioned the historic Knollwood Home. If you live in a historic home or are just interested in the history of your property or any local property, we have property information that goes back to before Tennessee was considered a state. You can find out who the previous owners were as well as the years they owned the home or property. We have computer stations open to the public for viewing this information, and our staff is happy to help you learn to use the system. You can also call our records department at 865-215-2330 if you can’t make it in, and they will be happy to give you the information you desire.

Our office will be closed Thursday and Friday this week in observance of the Thanksgiving holiday. We will be back at our desks, ready to serve you on Monday, Nov. 29, at 8 a.m. I hope you have a very nice holiday filled with good food, good company and good memory making. Happy Thanksgiving from our office!

Nick McBride is register of deeds for Knox County.

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