Loans up by $102 million over same period last year

Nick McBrideNortheast Knox, On the Grow, West Knox

The month of January went by in the blink of an eye! During the last week of the month, we recorded 176 property transfers that totaled $39.48 million and 318 mortgages which totaled $108.5 million.


Nick McBride

This week’s highest value property transfer was between J&D Family Properties II LLC and Select Commercial Properties LLC.  Select purchased the 5-acre Landmark Trucks property located at 4550 Rutledge Pike for $2.25 million. Select Commercial Properties borrowed $4.2 million from Firstbank for the purchase.

The second-highest recorded property transfer of the week was between Golf View Partnership and PMC Squared LLC. PMC purchased the property located on Valley View Drive, better known as the Golf View Apartments, for $1.44 million.

Of the 318 loans that were recorded, the highest value loan was a $35.5 million Multifamily Deed of Trust between Paradigm Knoxville Apartments LLC and Merchants Capital Corp. The collateral for this loan is the Wellsley Park at Deane Hill apartment complex.

Wellesley Park

We compared January 2019 and January 2020 with the following results:

January 2019

874 property transfers that equaled $219 million

1108 loans totaled $270.6 million

January 2020

863 property transfers equaled $236.2 million

1454 loans totaled $372.9 million

Knoxville real estate is still going strong!

Nick McBride is register of deeds for Knox County.

 

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