North Carolina Apartment Community Sells for $204,000 Per Unit
CHARLOTTE, North Carolina, October 9, 2018 – Cushman & Wakefield has arranged the $19.78 million sale of Beaucatcher Flats, a 97-unit apartment community located in Asheville, North Carolina. Jordan McCarley, Marc Robinson and Watson Bryant of Cushman & Wakefield represented the seller, Beauxwright, in the transaction. Chaucer Creek Capital acquired the property.
“Beaucatcher Flats is uniquely located just outside of Asheville’s vibrant downtown and adjacent to Mission Hospital, one of the largest employers in the region,” Chris Warren, Principal of Beauxwright, said. “We were fortunate to build on a premier development site with incredible views, and we believe the Chaucer Creek team will continue to experience strong demand for this community.”
Serving as Urban Asheville’s premier upscale multifamily community, Beaucatcher Flats is located less than one mile from Downtown at one of Asheville’s highest elevation points providing picturesque mountain views. Amenities include bicycle storage, community grilling area, pet spa/grooming station, heated swimming pool and fire pit with seating area.
“We are thrilled to be expanding our presence once again in Asheville with our purchase of Beaucatcher Flats,” said Billy McClatchey, President of Chaucer Creek Capital. “We are thankful to have worked with our friends at Cushman & Wakefield and Beauxwright to complete this transaction.”
Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in 2017 based on closed transactions, totaling $4.5 billion in sales volume. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.