Comstock Announces Acquisition of 672-Unit Multifamily Complex in Charlotte
Comstock (CHCI) has entered into an agreement to acquire The Ascher, a large-scale multifamily property located in Uptown Charlotte, North Carolina. The complex consists of two 24-story residential towers, approximately 13,000 square feet of retail space, and over 900 parking spaces. The acquisition will be executed through Comstock’s Institutional Venture Platform, with the majority of equity provided by institutional partners. Under the terms of the deal, Comstock intends to retain a minority stake in the property while earning management fees. The company has already placed a $2 million deposit on the transaction and plans to implement upgrades to the asset following the acquisition.
Tickers: $CHCI
Topics: Acquisition Institutional Investment Multifamily Real Estate