October already? Another month has flown by in this crazy year, 2020! September did end up lower in both lending and property transfers than August, but still I’d say that $375.3 million in sales is great. We also saw $609.55 million in new loans.
There’s been a lot of real estate activity during this first fiscal quarter (July thru September). 7,541 loans totaling $1.9 billion were recorded in our office along with 4,129 property transfers which came in at a total of $1.25 billion.
Last week, which included the first two days of October, 661 loans were recorded totaling $162.7 million and 377 property transfers with a value of $115.5 million.
The highest value property transfer that was recorded last week was the sale of the Premier Papermill Surgical Suites located at 6408 Papermill Drive. Fortress Corporation purchased the property from Strategic Integration Partners LLC for $10.27 million.
Fortress Corporation also purchased another property last week, the undeveloped lot next to the Weigel’s convenience store on Hardin Valley Road. Fortress purchased the property from LKM Properties LP for $2 million. Look for development soon!
Another undeveloped parcel was sold last week as well. The 8.42-acre Spring Farm Development property, with the address 1301 East Weisgarber, is located directly across the street from the Weisgarber Post Office. Spring Farm LLC sold the property to Choo Properties LLC for 1.62 million.
A recap of the lenders with loans valued over $1 million last week:
- Home Federal Bank of Tennessee – $9.28 million
- Knoxville TVA Employee Credit Union – $3.6 million
- Capstar Bank – $3.5 million
- First Century Bank – $1.4 million
- TNBank – $1.36 million
- Renasant Bank – $1.2 million
- FirstBank – $1.06 million
- First Horizon Bank – 1.04 million
- ORNL Federal Credit Union – $1.02 million
The full list of top lenders can be viewed on our website: https://knoxcounty.org/apps/top_lender/
As always, we will be open and available to record and report all real estate activity to our Knox County citizens. Enjoy this week of wonderful fall temperatures!
Nick McBride is register of deeds for Knox County.