ASHEVILLE — Beaucatcher Flats, a 97-unit Asheville apartment community, has been sold.
The community at 128 Florence St. has been acquired by Raleigh real estate investment firm Chaucer Creek Capital from Charlotte-based Beauxwright for $19.78 million, real estate company Cushman & Wakefield said Tuesday. It marks a fairly quick turnaround for the complex, which was built just south of the downtown corridor after receiving conditional zoning approval from Asheville City Council in 2015.
Chaucer Creek Capital is a familiar name in the region with about 40 existing rental communities dotting parts of the Carolinas as well as in Georgia and Virginia.
"We are thrilled to be expanding our presence once again in Asheville with our purchase of Beaucatcher Flats," Chaucer Creek President Billy McClatchey said in a news release. "We are thankful to have worked with our friends at Cushman & Wakefield and Beauxwright to complete this transaction."
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Chris Warren, principal of Beauxwright, said the company was "fortunate to build on a premier development site with incredible views," adjacent to the Mission Hospital campus. Warren said Beauxwright’s team believes Chaucer Creek will "continue to experience strong demand for this community."
Beauxwright also is behind the Bauhaus South Slope project, which will add 17 luxury town homes near Asheville’s McCormick Field. The company’s primary footprint is in the Charlotte area, its website shows.
Beaucatcher Flats features one- and two-bedroom apartments with online pricing showing units between $1,227 and $1,760 a month. It features a number of amenities including a community grilling area, a heated swimming pool, bicycle storage and a pet spa.
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