ASHEVILLE, NC – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and a developer of mixed-use multifamily communities, announced the acquisition of Asheville NC Apartment Portfolio, a two-property multifamily portfolio comprised of a total of 305 apartment homes in Asheville, North Carolina. The portfolio was bought on behalf of CS1031 Asheville NC Apartment Portfolio, DST, a private placement offering that seeks to raise $73.1 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Once again, Capital Square remains ahead of the curve with this two-property multifamily acquisition in Asheville, North Carolina,” said Louis Rogers, founder and chief executive officer of Capital Square. “Asheville has a strong economy in a bucolic environment. With apartment rents increasing 25%, Asheville has experienced the strongest growth in multifamily rental rates of any metro in North Carolina, according to WTVD. This makes the Asheville NC Apartment Portfolio an brilliant option for investors seeking stable cash flow and appreciation.”
Asheville NC Apartment Portfolio includes the 253-unit River Mill Lofts, located at 100 River Mill Drive, and the 52-unit Skyloft Apartments, located nearby at 500 S Skyloft Drive. The 10.887-acre portfolio offers one-, two- and three-bedroom units averaging 1,120 square feet. The spacious floorplans include high-end finishes such as granite countertops, stainless-steel appliances and subway tile backsplashes. Community amenities at River Mill Loft include access to the scenic Swannanoa River, a well-appointed clubhouse and a swimming pool. Skyloft Apartments residents may delight in an outdoor fire pit and community grilling area and a fenced pet park. Both properties are within a ten-minute drive of downtown Asheville.
Known for its sweeping mountain views and gorgeous scenery, Greater Asheville is home to more than a million acres of protected wilderness, offering hiking, biking, paddling and many other activities to its residents. Mission Health, an operating division of HCA Healthcare, and North Carolina’s largest health system is located in Asheville. The system’s flagship medical center, an 815-bed Mission Hospital, is less than two miles from each property. It ranks as the top employer in Asheville and western North Carolina, employing more than 10,000 people.1 Aerospace manufacturer, Pratt & Whitney, is currently investing $650 million to build a one-million-square-foot advanced manufacturing center, approximately three miles from the property. The facility is expected to open by the end of 2022 and is forecasted to add 800 local jobs, with an annual payroll of nearly $55 million.1,2
“With a 2.8% unemployment rate, historical sites, and stunning views, Asheville is a compelling location,” said Whitson Huffman, chief strategy and investment officer. “The city has a thriving economy and is an brilliant place for those seeking the prototypical live-work-play balance.”
Biltmore Village, a historical enclave at the entrance to the Biltmore Estate, is within walking distance of River Mill Lofts. The village was modeled after an English village and features numerous shops, nearly a dozen restaurants and cafes and several craft breweries. Both properties are located near downtown Asheville, which is known for its prolific food scene, having just been named the top food destination in the U.S. for 2022 by Travel & Leisure.

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ATLANTA, GA – Aventon Companies, a prominent, vertically integrated, multifamily developer with active projects throughout the mid-Atlantic and Southeast, announced it has entered the Atlanta market. Aventon Exchange will be a 300-unit, Class A development spread over 16 acres, located at the Northeast corner of Buford Drive and Ancient Peachtree Road.
Offering spacious one, two and three-bedroom floor plans, each apartment home will boast top-of-the-market finishes. In-unit features include European style cabinets, quartz countertops, wine racks, open shelving, and community-wide Wi-Fi. Meanwhile, the community itself will feature a resort-style, saltwater pool adjacent to a massive, nearly 12,000 SF clubhouse with a game room, state-of-the-art fitness center, remote-working lounge, numerous private offices along with a conference and podcast room. Dog lovers will also delight in a pet spa, lush greenspace, and a dedicated dog park. Looking towards the future, the parking lot will be outfitted with EV charging stations.
“We are thrilled to be entering the Atlanta metro area, especially Gwinnett County, one of the most high-end and rapidly growing counties within Georgia,” said Ron Perera, Senior Managing Director for Aventon Companies. “We look forward to Aventon Exchange being the first of many projects in this dynamic and growing region.”
The buildings of Aventon Exchange were designed by Scott + Cormia Architecture, with interior design by Alpharetta-based Studio 5 Interiors. The community is expected to open in early 2024 and will be located minutes from numerous dining and shopping destinations as well as major employment nodes. Since 2019, Aventon Companies has assembled an impressive $2 billion portfolio of ground-up developments expected to bring nearly 7,600 Aventon-branded apartment homes to Florida, Georgia, the Carolinas, and the Mid-Atlantic.

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PITTSBURGH, PA – Multiversity Housing Partners property management arm, MultiVersity Property Management, will be overseeing the rebranding, management, and plotted improvements at The Square on Butler, formally Doughboy Square and Square View in Lawrenceville, PA. An affiliate of MVHP bought the property in August, 2022.
Located in central Lawrenceville, The Square on Butler is the fifth property that MVPM has added to its portfolio in the Pittsburgh area. This property is comprised of three buildings built between 2014 and 2017 with 59 conventional units. Floorplans consist of both one and two-bedroom apartments with nine affordable two-bedroom units located on the first level. The Square on Butler is also home to seven commercial retailers.
Community amenities include: a 24-hour fitness center, covered parking, indoor bike storage, and a dog wash area. Coinciding with MVPM’s dedication to customer service and safety, controlled access to buildings, and on-site management shall remain in place. Located in “the heart” of Lawrenceville, this apartment assemblage is in close proximity to dining and entertainment options with a walkability rating of 85.
MVPM also plans to make further improvements to the lobby area and amenities by completing major upgrades to the fitness center and its equipment, performing lobby renovations, and adding a Luxor package system as well as comprehensive exterior improvements.
MVPM will bring its boutique-style approach to property management in order to operate this property more efficiently. MVPM will be adding the following upgrades: hallway updates to fit with the rest of the buildings’ luxury apartment theme, improvements to steel balconies, exterior lighting and paint unit exteriors with neutral tones in order to enhance curb appeal.
Christopher Feeley, CEO and Managing Member of both MVHP and MVPM, stated that “these assets add to our portfolio of value-add multifamily properties, with these properties being market rate apartments located in one of the best submarkets (Strip District-Lawrenceville) in the City of Pittsburgh. Frankly, the Lawrenceville-Strip District is one of the best submarkets in any major city located along the East Coast.”

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