Last week was a four-day week in the office, so our total weekly number is lower than the average. Still, in four days we recorded 1,404 total documents. Of those, 180 were property transfers, and 347 were new loans.
The 180 property sales totalled more than $67 million with only seven being properties with a value over $1 million. There were only two commercial properties among the seven, and both of those were small apartment complexes.
Nick McBride
We’ve seen a lot of owner changes in student housing over the past year, including last week’s transfer of the property located at 1213 Laurel Ave. Barn Facilitators LLC sold the building to CFTL LLC for $1.3 million. The other apartment complex sold is just off Old Clinton Pike in North Knoxville— Robison Properties LLC sold the Robins Nest apartment complex to Rand Powell LLC for $3.25 million.
We recorded 347 loan documents which came to a total of more than $132 million, with 11 of those over $1 million. The highest value loan was $26.57 million and was funded by Pinnacle Bank. The second highest was funded by Home Federal Bank in the amount of $10 million. Home Federal also funded the third highest loan for $4 million. All the other loans were under $4 million:
If you’ll notice in the three-year comparison, for the first three and half months of the year we’re already in the billions of dollars in sales and loans for the year and way ahead in both categories! 2022 will be a record year!
Have a great weekend!
Nick McBride is register of deeds for Knox County.