East West Capital has successfully acquired an 8.11 acre site in the gated community of Arabella in South
Asheville.
“We are very excited about the growth that is occurring in South Asheville along the Long Shoals Road corridor.” said David Moritz, principal of East West Capital. “We believe that demand will continue to strengthen in this area, particularly upon the completion of the two healthcare facilities being built less than 2 miles away.”
The property was purchased at a recent FDIC auction and fits within EWC’s strategy of purchasing well located properties that can support creative developments. Arabella is located between the two prestigious developments of the Cliffs at Walnut Cove to the West and Biltmore Park to the East. I-26 is less than 2 miles away, while the airport is 4 miles south.
“Arabella offers us a remarkable opportunity to be involved in the regeneration of this beautiful community.” said Brian Nelson, principal of EWC. “The location and views are fantastic. Having prepared thoroughly for the auction process, we were able to acquire this unique land at an attractive price. This will allow us the patience to build something unique that will complement the existing neighborhood.”