MHA Arranges Sale of 392-Unit Community for Bell Partners

Graycliff Capital Partners acquired a 392-unit apartment community from Bell Partners, in a deal arranged by Multi Housing Advisors.

Charlotte, N.C.Multi Housing Advisors (MHA) recently arranged the sale of a 392-unit apartment community located in Asheville, N.C.

The Meadows

The Meadows

Greenville, N.C.-based Graycliff Capital Partners acquired the property from Bell Partners Inc. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller in the transaction.

Located at 99 Ascension Drive, The Meadows offers one-, two- and three-bedroom apartments ranging in size from 755 to 1,302 square feet. The community, built in two phases, offers easy access to Downtown Asheville as well as to major transportation arteries.

Amenities for residents at The Meadows include two resort-style swimming pools, clubhouse, courtyard disc golf course, tennis court, playground, sports court, state-of-the-art fitness center, Wi-Fi in common areas and 24-hour emergency maintenance. Rents in this community start at $848 and go as high as $1,349.

The Meadows

The Meadows

“This transaction represents a tremendous opportunity for new ownership to breathe fresh life into an established, well-maintained asset located in what is quietly one of the stronger markets in the Carolinas,” McCarley said.

Images courtesy of The Meadows