Prime West Knoxville Senior Living tops the market at $49.5 million

Nick McBrideOn the Grow

The Christmas holidays are behind us now and the new year is just days away. I hope you were able to share the holidays with the people you love. The office was closed on Friday, but even with a four-day week we still recorded 1,290 documents.

Nick McBride

Included in the total were 246 property transfers which had a combined total of $168.5 million. 11 of those sold for over $1 million.

Two South Knoxville properties were among the six commercial transfers recorded with high price tags. There is a new Fast Pace Health Urgent Care center at 4011 Chapman Hwy. JMB FP Investment Company LLC sold the property to R & R Properties of Tennessee LLC for $2.78 million.

Zips Car Wash

Further down Chapman Highway, the Zips Car Wash across from Lowe’s on Mountain Grove Drive was sold by Zips South Knoxville LLC to MDC Coast 26 LLC for $6.96 million.

The only North Knoxville property on the list was the property of the former YMCA at 7609 Maynardville Pike. YMCA of East Tennessee sold the YMCA buildings and property to 4M Baseball and Softball Training Center LLC for $1.7 million.

In West Knoxville, another apartment complex changed hands. The 96-unit Vue at Ridgeway Apartments off Lake Brook Blvd. was sold by West Vista Ridge LLC to BPI Ridge Way Partners LLC et al for $14.8 million.

Close to West Knoxville, I-40/75 Business Park LLC sold 24 acres of property just off Everett Road for $4.5 million to Ardmore Knoxville 2 LLC.

The highest-priced property to change hands last week is also in West Knoxville – Prime West Knoxville Senior Living has a new owner. Located at 1932 Falling Waters Rd. near Kroger on Northshore Drive, Passco West Knoxville DST purchased the property from CS Prime Senior Knoxville LLC for $49.5 million.

The title companies and banks were busy with pre-holiday closings, recording 316 loans totaling $206 million. There were 10 loans over $1 million with the highest loan funded by Truist Bank in the amount of $42.9 million. Trustmark National bank had the second-highest loan, $25.75, and Berkeley Point Capital LLC loaned the third highest of $20 million. Two others came in over 10 million dollars, FirstBank with an $18.57 million dollar loan, and Pinnacle Bank funding a loan of $11.53 million.

The other million-dollar loans were funded by:

The three-year comparison chart below highlights the differences in the past few years.

The Register of Deeds office will be closed on Monday, January 2, 2023, but will reopen on Tuesday, January 3, at 8 a.m. Good luck to the UT Vols who play in the Orange Bowl against Clemson on 12/30/22. Hope you have a very safe ending to 2022 and Happy New Year!    – Nick

Nick McBride is register of deeds for Knox County.


Leave a Reply

Your email address will not be published. Required fields are marked *