KNOXVILLE, Tenn — An upscale apartment complex along Fort Loudoun Lake south of downtown has sold for $124 million, records show.
The warranty deed is dated Oct. 31 and shows the transfer from an LLC based in Augusta, Ga., to Passco One Riverwalk, an LLC with an Irvine, Calif., address.
The sale price is one of the highest in recent years in Knox County, according to Knox County Register of Deeds Nick McBride.
The approximately five-year-old One Riverwalk development has about 300 one- and two-bedroom units. It's located on Blount Avenue on the site of the old Baptist Hospital and next to Regal headquarters.
A Passco online map shows the firm has properties in the Turkey Creek area and in West Knox County near Pellissippi Parkway. They also have properties in Cordova and Germantown, Tenn.
One Riverwalk has some of the best views of downtown. It sits on a bluff and features a "river walk" and overlook that stretches from the Henley Bridge to the Gay Street Bridge.
Knox County's real estate market continues to crackle. The One Riverwalk sale is one of several in recent years at or above the $100 million level.
Other deals include a multi-building site around Byington Road and Lovell Road that went for about $133 million and one off Joe Hinton Road in West Knox County that went for $108 million, according to McBride. Both of those transactions were in 2021.
Blount Avenue is one of Knoxville's busiest development corridors, along with the Cumberland Avenue Strip.
New complexes are going up right now west and south of One Riverwalk. Construction continues at the old Kern's Bakery site, to be called Kern's Food Hall on Chapman Highway.
To the south and east of One Riverwalk, there's been persistent speculation about the future of the Kerbela Shriners property perched above Blount Avenue.
