Loan to Blacktide Emory Road for $3 million tops week

Nick McBrideOn the Grow

It’s great to start the year on a positive note! The week of January 6-10, 2020, was busier than the same week in 2019 in both property transfers and mortgages/loans. This past week our office recorded 183 property transfers that totaled $49.23 million and 309 mortgages totaling $71.7 Million.

The largest property transfer of the week was between R&R Enterprises and VVI Project LLC. The units located in the Holston Building on Gay Street were sold for $2.4 Million.

Nick McBride

There were two notable loans this past week as well. Blacktide Emory Road LLC, which purchased the property of the PetSmart store at Emory Road at the end of December, funded $3 million of the purchase through a loan from Emerald Creek Capital 3 LLC. The other is a construction loan from Home Federal Bank to Knox TL Lot Acquisition LLC. Knox TL Lot Acquisition owns the property known as The Glen at West Valley subdivision, Phase 2. This subdivision is in West Knoxville near West Valley Middle School.  Knox TL Lot Acquisition obtained a loan in the amount of $2.93 million to begin this phase of the project.

Change can be hard, especially when things haven’t changed for a long time, so I’m happy to say that in the month since we began using the updated software the staff and the public users are giving it a thumbs-up! If you have any issues while trying to use the system, please don’t hesitate to give us a call.

Nick McBride is register of deeds for Knox County.


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