Asheville, NC, August 21, 2025
News Summary
Continental Realty Corp., based in Baltimore, has acquired The Lofts at Reynolds Village in Asheville, NC, expanding its multifamily portfolio. The property includes 201 apartments and 63,000 sq ft of retail space, with plans for upgrades to enhance resident amenities. This acquisition highlights the demand for quality multifamily housing in the growing Asheville market.
Baltimore – Continental Realty Corp., a real estate investment firm based in Baltimore, has acquired The Lofts at Reynolds Village in Asheville, North Carolina from Lone Star Real Estate Fund VI LP. While the exact price of the transaction remains undisclosed, the sale involved the transfer of REIT stock. This marks another expansion for Continental Realty Corp. in the multifamily sector, as it becomes the twelfth multifamily community the company has acquired in North Carolina.
The Lofts at Reynolds Village, located at 61 N. Merrimon Ave., Asheville, NC, is a significant development featuring 201 apartments and an extensive 63,000 square feet of ground-level retail space. The property, built in 2010, offers a variety of apartment types including one-, two-, and three-bedroom units designed to attract a diverse demographic of residents.
Residents of The Lofts can enjoy an array of amenities, which include a swimming pool, onsite property manager, business center, lounge, sauna, and spa. The apartments themselves boast features such as granite countertops, nine-foot ceilings, oversized closets, and in-unit washer/dryers, enhancing the living experience for current and future tenants.
Continental Realty Corp. has indicated plans to implement a series of upgrades aimed at enhancing resident amenities. Improvement plans include updates to the clubhouse and business center, along with the introduction of co-working spaces, which are becoming increasingly desirable in modern multifamily properties. This approach aligns with Continental Realty’s focus on value-add strategies to increase property value and enhance tenant satisfaction.
Walker & Dunlop represented Lone Star in this transaction, reflecting the ongoing trend of significant investment in the Asheville area. As the city continues to grow and attract new businesses and residents, The Lofts at Reynolds Village is strategically positioned to capitalize on this dynamic environment, appealing to both local residents and retail partners.
The acquisition not only reinforces Continental Realty Corp.’s commitment to expanding its presence in North Carolina but also highlights the increasing demand for high-quality multifamily housing in Asheville. The planned upgrades will cater to the evolving needs of residents, particularly in the competitive rental market where amenities and living conditions are a primary focus for prospective tenants.
The Lofts at Reynolds Village is more than just a residential complex; it is an integrated community space designed to foster both residential living and commercial activity, making it a valuable asset in the Asheville region.
Key Features of The Lofts at Reynolds Village
| Feature | Details |
|---|---|
| Location | 61 N. Merrimon Ave., Asheville, NC |
| Number of Apartments | 201 |
| Retail Space | 63,000 square feet |
| Construction Year | 2010 |
| Apartment Types | 1, 2, and 3-bedroom units |
| Amenities | Pool, onsite manager, business center, sauna, spa, lounge |
| Apartment Features | Granite countertops, nine-foot ceilings, oversized closets, in-unit washer/dryers |
| Planned Improvements | Clubhouse and business center upgrades, co-working space creation |
FAQ
What is Continental Realty Corp.?
Continental Realty Corp. is a Baltimore-based real estate investment firm that specializes in multifamily properties and commercial developments.
What is The Lofts at Reynolds Village?
The Lofts at Reynolds Village is a residential and retail development located in Asheville, North Carolina, comprising 201 apartments and 63,000 square feet of retail space.
Who sold The Lofts at Reynolds Village?
The property was sold by Lone Star Real Estate Fund VI LP, an affiliate of Lone Star Funds.
What improvements are planned for The Lofts at Reynolds Village?
Continental Realty Corp. plans to upgrade amenities, including improvements to the clubhouse and business center, and the addition of co-working spaces.
When was The Lofts at Reynolds Village built?
The development was completed in 2010.
What amenities are available to residents?
Residents can enjoy amenities such as a pool, sauna, spa, business center, lounge, and various apartment features like granite countertops and in-unit washer/dryers.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Rebusiness Online: Lone Star sells mixed-use Lofts at Reynolds Village in Asheville, North Carolina
- Multihousing News: Capital Square acquires North Carolina portfolio
- Yield Pro: Highline North
- Realtor.com: Unique Homes – Green Time Capsule Condo Most Popular
- Connect Commercial Real Estate: Baltimore-based Continental Realty acquires NC multifamily
- Wikipedia: Real estate in the United States
- Google Search: Real estate trends in Asheville
- Google Scholar: Multifamily housing Asheville
- Google News: Asheville real estate
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