West Knox apartments sell for $87 million

Nick McBrideOn the Grow

Hope you all had a nice holiday weekend!

Last week concluded with a total of 1,780 documents recorded: 417 of those were trust deeds that had a value over $177 million. Of those, 19 fell into $1 million or more category, with the highest value being $15.06 million funded by Walker and Dunlop LLC. The second highest was funded by Citizens Bank for $8.07 million. The other 17 loans over a million dollars were funded by:

Last week, due to another apartment complex sale, the value of the trust deeds recorded was less than the value of the warranty deeds recorded. There were 297 property transfers recorded with a value over $214 million, with 19 of those being transferred for $1 million or more. Of the seven commercial property transfers over $1 million, the most valuable property sold last week was The Village at Westland Cove Apartments. Changing hands in 2020 for $47 million, this is a fine example of the way property values have skyrocketed as it has now been sold by H3 Westland Cove LLC to CS1031 Village at Westland Cove Apartments DST for $87 million!

Nick McBride

The second most valuable property to change hands, the Hamilton Inn, is an extended stay hotel at 612 Clyde Street (Clyde Street connects with Middlebrook Pike and Ailor Ave). LLBJ-Knoxville Property Owner LLC has sold the hotel to Clyde Street Knoxville Holdings LLC for $5.99 million.

Eddie D & C Investments LLC sold two parcels of land in South Knoxville for $2.8 million; 3205 Biker’s Path Way and 4107 Mountain Trek Way. These properties that are either under construction or have newly completed homes were purchased by SoKno Townhomes LLC.

In the city’s downtown area, Delta Realty LLC sold the property at 200 W. Fifth Avenue to BCPMAC Knoxville LLC for $2.1 million. This property sports the iconic MAC Auto Loans signage.

Another downtown building changed hands as well. The building located at 414 Clinch Avenue was sold by 414 Clinch Ave LLC to Ephant Group-Ranjan Inc. for $1.4 million.

Not far from downtown, O&M Holdings LLC sold three properties on Holston Court, which is just off Holston Drive in East Knoxville. Oakview Properties LLC purchased the properties (two of which are multifamily) for $1.07 million.

And way out in West Knoxville, not far from the county line, JMB FP Investment Company LLC sold an undeveloped acre of land to Colonial Inn LLC. The property, 13013 Kingston Pike which is very close to the intersection of Watt Road, was sold for $2.57 million.

Still keeping up with the year-to-date comparisons, I’m still blown away by the increase of total values in both!

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Nick McBride is register of deeds for Knox County.

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