Last week was hot, so hot. I think most of us are looking forward to the change of seasons and cooler weather. The heat didn’t stop people from buying houses – we recorded $85.26 million in property transfers and $101.54 million in mortgage loans.
Of the 235 property transfers and 370 loans, one transfer accounted for both the highest property transfer and largest loan last week. The transfer of The Landings Apartments between The Knoxville Landings II LLC and HRA The Landings LLC was the largest of the week at $33.85 million. HRA The Landings LLC also obtained the highest loan, $22.1 million dollars from CBRE Multifamily Capital Inc. These apartments are located along the north bank of the Tennessee River across the street from the old Hyatt Regency.
The second highest commercial loan was obtained from Smartbank by KRUPA Associates. KRUPA Associates, which owns the Comfort Suites on the corner of Campbell Station Road and Snyder Road, borrowed $4.15 million with the property as collateral.
There should be some work starting soon on the commercial property at the corner of Schaad Road and Oak Ridge Highway. The owners of the property, Grassy Creek LLC, signed a deed of trust with Smartbank for $3.5 million.
So that you know: prior to 1999, each recorded document was copied and assigned a book and page number. It is an ongoing process to scan these documents into the current system so they are accessible without pulling out the heavy books. Since 1999, each document is scanned into the database and assigned an instrument number. The old documents are still referenced by using the book and page number.
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Have a great week!
Nick McBride is the Knox County register of deeds.