Short week produced over $100 million in transfers

Nick McBrideOn the Grow

I hope everyone had a chance to celebrate the Easter holiday with loved ones this year — so many have had their vaccinations that we can now be around family. It feels so refreshing to be able to hug, hang out with and dine with those we love.

Because last week was the end of the month and a shortened week, title companies were busy, and so were we. In those four days, 652 loan documents and 308 property sales documents were recorded. The total value of the property transfers was a whopping $100.71 million. That’s $25 million more than the previous week! We had a total of nine transfers with a value over $1 million and four of those were commercial properties.

Nick McBride

Petsmart at Emory Road in North Knox County was the highest value at $4.57 million. Blacktide Emory Rd LLC, who purchased it in January 2020, sold this approximately 3-acre property to UAG Property Sub 1 LLC. The others over a million included the Knoxville Livestock Center in Mascot. This 69-acre property used for livestock auctions was sold by Knoxville Livestock Auction Center Inc. to B.A.R. Investments LLC for $1.77 million.

Undeveloped property next to the Karns Branch Library has also had an ownership change. The new owner, S & Y Prime Net Property LLC, spent $1.57 million on the 1-acre lot on the corner of Oak Ridge Highway and Beaver Ridge Road which they purchased from JMB Investment Co LLC.

The last of the commercial transfers was the Evergreen Apartment Complex located on College Park Lane at Fountain Road in North Knoxville. Be Good Developments LLC sold the apartments to WSLG LLC for $1.65 million.

The total of 652 loan documents with a value of $175.44 million included 11 loans over a million dollars. This number is higher than the previous week by $35 million dollars.

The banks funding these loans were:

  • JPMorgan Chase Bank N.A. – $68 million
  • Smartbank – $20 million
  • Pinnacle Bank – $2.96 million
  • First Horizon Bank – $2.33 million
  • Chevron Federal Credit Union – $1.4 million
  • Mountain Commerce Bank – $1.34 million
  • Home Federal Bank – $1.25 million.

Our totals for March ended up with $808.79 million dollars in loans and $480.34 million dollars in property transfers! Overall, we recorded a total of 10,700 documents — 3,166 were loan documents and 1,417 were property transfers! What a great month!

Look for us on Facebook: I hope everyone has a great week!

Nick McBride is register of deeds for Knox County.


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