Bob Hart Of TruAmerica Multifamily Acquires 252-Unit Multifamily In Asheville For $49.88M

The property involved in the transaction is Westmont Commons, a 252-unit multifamily community located at 120 Chamberlain Drive in Asheville, North Carolina. The asset was acquired by TruAmerica Multifamily, in collaboration with Spoke Real Estate Capital, for $49,875,000 in an off-market deal. This multifamily property was purchased at a price equivalent to approximately $197,917 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $49,875,000
• Units: 252
• Price Per Unit: $197,917
• Address: 120 Chamberlain Drive, Asheville, NC
• Buyer: Bob Hart - TruAmerica Multifamily
• Lender: Greystone

The buyer of Westmont Commons was Bob Hart, representing TruAmerica Multifamily. Greystone provided the financing for the transaction. Additionally, the acquisition was facilitated through collaboration with Spoke Real Estate Capital in an off-market deal within the Asheville, North Carolina market.