Papermill Square and Standard Knitting property sell

Nick McBrideOn the Grow

Last week was a whirlwind in the register’s office! The week started off with the challenge of brand-new software, and I have to say that I am very proud of my staff’s ability to adapt to the changes with positive attitudes. They’ve done a great job and I stand by my previous statement that we have the best register’s office in Tennessee!

For the week ending Dec. 6, we recorded 263 property transfers for a total of $79.37 million and 452 loans that equaled $101.76 million. There were three notable property transfers this week, with the greatest dollar amount being the transfer of Papermill Square Apartments from CLEG-MAD LP to Dominion Papermill LLC for $10.8 million. Dominion Papermill LLC financed $8.73 million through Dougherty Mortgage LLC for the transfer.

Nick McBride

Another notable transfer was the old Standard Knitting Mill property on Washington Avenue. This property changed hands from SKM Holdings LLC to Knoxville Mill Investment LLC for $4.07 million. Knoxville Mill Investment LLC is indebted to SKM Holdings LLC in the amount of $2 million according to the deed of trust filed in our office.

For the week ending Dec. 13, there were 277 property transfers that totaled $81.53 million and 442 loans that equaled $103.3 million. The largest commercial transfer of the week was between Knoxville’s Community Development Corporation and Lincoln Memorial University. LMU purchased the property formerly known as the Magdalen Clarke Tower for $2 million. LMU will continue to offer its nursing program and will have other offices there as well.

Another large transfer was for the former Krystal property on Millertown Pike. Trinity SWB LLC sold the property to Freedom Holdings LLC for $1.67 million.

The highest loan of the week was the $2.76 million obtained by Little Savage Panda LLC from TNBank for construction on the property located at the corner of Kingston Pike and Campbell Station Road. I was out there yesterday, and it looks like construction has commenced!

Please note that due to the time-sensitive nature of our business, we will be open during the regular hours (8 a.m.-4:30 p.m.) except for the following days:

Tuesday, Dec. 24, 2019 – closed

Wednesday, Dec. 25, 2019 – closed

Wednesday, Jan. 1, 2020 – closed

Have a great week!

Nick McBride is the register of deeds for Knox County.

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