Retreat at Weaverville

In 2022, ACRE provided $29,500,000 of bridge financing on this Class A, newly-developed property in the affluent Weaverville submarket of Asheville, NC. The loan was fully funded at close and used to acquire the Property from the original developer. Asheville is a regional hub for healthcare, the largest industry in the Asheville MSA, responsible for over 20% of employment. Mission Health leads the way as the largest employer in Western North Carolina (15 minutes from the Property). The Property features a variety of high end amenities, including a resort-style pool area located outside of the fully amenitized clubhouse with 24/7 gym and lounge.