Welcome to the last full week of January. Time sure does fly! And in that time our office has been busy—last week we recorded 1,666 documents. The staff does a great job with the workload.
Trust deeds made up 422 of those documents, with a sum of $122,588,774. Surprisingly, only five of those were loans over $1 million. Community Trust Bank funded the highest value loan of $9.4 million, and First Horizon Bank came in right behind with a loan of $9.25 million. The others were:
In property sales we recorded 231 warranty deeds which carried a total value of $83,224,562. The commercial property that sold for the highest amount was the Aloft Hotel just off Lovell Road. Turkey Creek Hotel Group LLC sold the hotel to CPX West Knoxville LLC for $13.5 million. From the website photos it looks like a really nice hotel.
Nick McBride
We only had two other commercial purchases for over $1 million. One of those is a group of residential lots that are going to be developed very quickly. NMI Residential Investment sold 24 lots in the Beau Monde neighborhood which is right behind the Northshore Towne Center. The purchaser, NTC Holdings purchased these lots for $1.75 million.
The third high value commercial property that changed hands was the Fast Lube Oil Change building located at 816 Merchant Drive. It is now owned by Purpose TN 1 LLC who purchased the property for $1.3 million.
Comparing the past three years you can see that in 2022, the number of deeds has gone down slightly but the increase in value is surpassing 2021 by leaps and bounds. This should be another interesting year!
I know the spring meetings of homeowners’ associations all over town are being planned, so I just want to remind you that I am available to make a presentation to your groups. Just give me a call at the office to set up a time. Our number is 865-215-2330.
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Nick McBride is register of deeds for Knox County.