South Knox apartments grow in value

Nick McBrideOn the Grow

During the first week of June 2024, 1,446 documents were recorded in the Register’s office. Trust Deeds accounted for 337 and had a total value of $200.9 million. Twelve loans came in with amounts over $1 million. The two largest loans were funded by Walker & Dunlop LLC; the largest was valued at $60.24 million, and the other at $15.13 million. Bellwether Enterprise Mortgage Investments LLC loaned $19.8 million. The others are as follows:

Property sales totaled 271 recordings on the week, including 18 over $1 million. The total value of all Warranty Deeds was $133.92 million. Apartment complexes can be profitable investments, as illustrated in the only commercial property to sell for more than $1 million last week. In 2021, Adelade SPE LLC purchased the Adelade Apartments, which has buildings at 2701 and 2710 Sevier Avenue in South Knoxville. They purchased the properties for $12.4 million in 2021 and last week the apartments were sold to Adelade Free LLC for $17.1 million.

The comparison chart has been updated as of Friday, June 7.

Since you’re reading this, why not take a moment to sign up for the FREE Property Fraud Alert program that is in place for your peace of mind? It is easy to sign up. If any documents are recorded in your name, you will be alerted via email so that you can act IF necessary. Just type into your search bar and follow the prompts to sign up. No spam is generated; you’ll only get notifications if something is recorded.

Please note that the office will be closed on Wednesday, June 19, in observance of Emancipation Day. We will reopen at 8 a.m. on Thursday, June 20.

Have a great weekend! – Nick

Nick McBride is register of deeds for Knox County.


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