Newmark Arranges $48M Construction Financing for Multifamily Development in Asheville

by John Nelson

ASHEVILLE, N.C. — Newmark has arranged a $48 million construction loan for the development of Creekside Asheville, an apartment and townhome community in Asheville. Creekside Asheville will total 308,000 square feet and house 319 apartments and carriage homes. Amenities at the property will include a saltwater pool, fitness center, playground, clubhouse, cyber café and pet spa. Danny Matz, Nick Scribani, Jordan Roeschlaub and Dustin Stolly of Newmark secured the financing through Wintrust on behalf of the borrowers, URS Capital Partners and Advantis Development.

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