Cushman & Wakefield announced the commercial real estate services firm has arranged the sale of an eight-acre site at Overlook at Asheville on behalf of seller Golden Hour Collective.
Alex Phillips, Battle Smith, Alex McDermott and Sparling Davis with Cushman & Wakefield’s Sunbelt Multifamily Advisory Group represented Golden Hour in its transaction. Shelton McNally Real Estate Partners, an Atlanta-based multifamily developer, plans to build a 210-unit apartment community at the shovel-ready site.
The eight-acre transaction encompasses the multifamily segment of a larger, 98.8-acre master-planned development that is approved for the 210 apartment units as well as 130 build-to-rent townhomes and up to 176 duplex units, offering an exciting product mix that will be attractive to a wide range of renters and aspiring homeowners. Located on a scenic gently sloping mountainside on the outskirts of Asheville, the area has a distinct mountain feel.
“The planned development adds much-needed housing to the resilient and growing Asheville market – particularly notable as the region continues to recover and push forward following the impacts of Hurricane Helene,” said Phillips, Cushman & Wakefield Managing Director. “This transaction reflects the continued confidence in Asheville’s fundamentals and its ability to attract high-quality capital and development talent. We look forward to seeing Shelton McNally bring their vision to life on this site.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 90-person investment sales team covering 15 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group closed $5 billion in sales volume through 172 deals and 28,000 units.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief
