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Capital Square Acquires 312-Unit Apartment Community in Arden, North Carolina

Situated on 28 acres in the Blue Ridge Mountains off I-26, Retreat at Arden Farms offers one-, two- and three-bedroom units averaging 957 square feet.

ARDEN, N.C. — Capital Square has acquired Retreat at Arden Farms, a 312-unit apartment community located at 539 Long Shoals Road in the Asheville suburb of Arden. The Richmond-based firm purchased the property for an undisclosed price through CS1031 Retreat at Arden Farms Apartments DST, a Delaware statutory trust investment offering that seeks to raise $68 million in equity. The seller was not disclosed. Situated on 28 acres in the Blue Ridge Mountains off I-26, Retreat at Arden Farms offers one-, two- and three-bedroom units averaging 957 square feet with tile backsplashes, stainless steel appliances, nine-foot ceilings, walk-in closets and balconies or patios. Amenities include a clubhouse with a lounge, cyber café with a coffee station, resort-style saltwater pool, 24/7 fitness center, wellness studio, poolside grilling area, dog park, electric car charging stations and private garages and storage units.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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