Property Description

Asheville NC Apartment Portfolio is a two-property portfolio located in close proximity to downtown Asheville. The portfolio consists of a 253-unit multifamily community, River Mill Lofts, and a 52-unit multifamily community,  Skyloft Apartments.

High-end unit finishes for both properties include tile backsplash, stainless steel appliances, nine-foot ceilings, and walk-in closets within spacious units averaging  1,120 square feet. River Mill Lofts features quartz countertops and Skylofts offers granite countertops.

Both properties are located within close proximity to downtown Asheville, which is known for its prolific food scene,  having just been named the number one food destination in the U.S. for 2022 by Travel & Leisure.

 

Property Type

Multifamily

Structure

Delaware Statutory Trust

Capital Square
Asheville NC Apt. DST

NC

Remaining Availability

65% Remaining
Total Funds
$115,143,000
Remaining Availability
$47,800,000
Minimum Investment
see PPM
Funded To Date
$25,290,000
Est. Hold Period
10 Years
Leverage
36.52%
Equity Raise
$73,090,000
Price/SF or Price/Unit
$377,518/Unit

For More Details

 
 
 

Location Details

 
 
 

Population

See PPM

Population Growth

See PPM

About The Area

  • Asheville gained 9,200 jobs over the twelve-month period ending in April 2022 and registered an unemployment rate of 2.8%, according to the BLS.
  • The greater Asheville area is home to over a million acres of protected wilderness, offering many options for hiking, biking, fishing and paddling.
  • Biltmore Village, a historical enclave at the entrance to the Biltmore Estate, is within walking distance of River Mill Lofts. Biltmore Village was modeled after an English village and features numerous shops, nearly a dozen restaurants and cafes, and several craft breweries.

 

Sponsor

Since 2012, Capital Square has helped investors navigate tax-advantaged real estate offerings.

The company’s experienced, investor-centric team provides a successful foundation for investment opportunities including:

  •  Delaware statutory trusts as replacement properties for 1031 exchanges
  • Qualified opportunity zones
  • Private investment offerings

Dedicated to both cash investors and those seeking replacement properties as part of a Section 1031 exchange, Capital Square’s veteran staff knows how to leverage current market conditions to obtain resilient, stable properties.

The bulk of DST offerings consist of multifamily and healthcare assets. Capital Square also sponsors turnkey real estate investment offerings with low investment minimums. This provides investors with access to higher quality real estate.