Lenders busy in January

Nick McBrideOn the Grow

Another apartment complex sale sits at the top of the list of highest value property transfers of the week.

ECG Country Oaks LLC sold the Elevation Knoxville apartment complex on Papermill Drive to Country Oaks Partners LLC for $36.75 million. This sale was funded by CBRE Multifamily Capital Inc.

Nick McBride

We recorded only one other commercial property transfer over $1 million — the Countryside Center shopping center located on Middlebrook Pike, anchored by Domino’s Pizza and Subway. Camana Properties LLC sold the center to MBP Countryside LLC for $3.15 million. This transfer was funded by SimplyBank.

Overall, the office recorded 222 property transfers that had a total value of $97.36 million. The total number of sales is down a bit from the previous week, but the total value came in above last week’s numbers by $36 million — certainly not bad for a holiday week!

The lenders have been busy all month; last week we added another 547 loans. These had a total value of $132.9 million, with the largest amount being loaned by CBRE Multifamily Capital Inc. which brought their total for the week to $42.8 million.

Countryside Center

The other banks that made individual loans over $1 million were:

  • Capstar Bank – $4.35 million
  • SimplyBank – $2.38 million
  • First National Bank of Oneida – $1.74 million
  • PennyMac Loan Services LLC – $1.47 million
  • First Horizon – $1.40 million
  • Mountain Commerce Bank – $1.30 million
  • The Northern Trust Co. – $1.26 million

Have a great week! And don’t forget to look for us on Facebook here.

Nick McBride is register of deeds for Knox County.


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