Last week saw a slight increase over the previous week in both property transfers and lending.
We had 258 property transfers for a total of $74.9 million and 395 recorded loans that totaled $157.1 million. Among the transfers was Zips Car Wash on Maynardville Pike which changed hands for $3.21 million between SCF RC Funding IV LLC and F.M. Hammad Irrevocable Trust.
A skilled nursing facility in North Knoxville is under new ownership. Knoxville Propco LLC purchased what is now known as Creekside Health and Rehabilitation (formerly Northhaven) from Eagle Realty VII LLC for $12.69 million. Knoxville Propco paid Tennessee mortgage tax on $54 million of a larger loan. This portion of the larger loan may include other projects owned by Propco LLC. Creekside Health and Rehabilitation Center is located at 3300 N. Broadway in Knoxville.
As far as financing, M&A Hive Knoxville LLC borrowed $12.8 million from NorthMarq Capital LLC. M&A Hive Knoxville LLC owns several complexes known as The Hive, student apartments located around the UT campus.
Another large refinance loan was between Panorama LP and ORNL Federal Credit Union for $6 million. Panorama owns commercial buildings in the Mid Park Business Park off Middlebrook Pike.
So that you know: A power of attorney, which allows an appointed party to act on your behalf, should be on record in our office to be used in real estate transactions. This appointment ceases to be valid upon the death of the appointer. The cost to record is $12 for the first two pages and $5 per page after two. A certified copy, which is considered as good as an original, can be obtained for $1 per page.
Nick McBride is the register of deeds for Knox County.