Westmont Commons

Asheville, NC

Westmont Commons is a 252-unit multifamily community in Asheville, NC that TruAmerica purchased off-market for $49,875,000 in partnership with Spoke Real Estate Capital. TruAmerica plans to execute a value-add asset improvement campaign to reposition the property, which was built in two phases in 2003 and 2008. All 252 homes are slated to be upgraded with modern finishes and installation of washer and dry appliances. TruAmerica will also complete exterior and amenity work at the property, including enhancements such as landscaping upgrades, reconstructing and upgrading the pool deck, converting the laundry room to a pet spa, renovating the clubhouse, and expanding the fitness center.

Westmont Commons delivers a mix of features and amenities for residents across a range of one- to three-bedroom floor plans. Units include hardwood-style flooring, spacious kitchens with black or white appliance packages, ceiling fans, washer and dryer hookups and private patios or balconies. The property has a community clubhouse with kitchen and game room, outdoor pool with expansive sundeck, off-leash dog park, 24/7 fitness center, picnic area with outdoor grill and offers views of the Blue Ridge Mountains.

The suburban property Is located at 120 Chamberlain Dr. in western Asheville near major employment hubs and retail offerings, including Downtown Asheville, the Whole Foods-anchored Asheville Market, the Walmart-anchored Riverbend Market Place, and the 8,000-acre Biltmore Estate. The property is minutes from Asheville’s renowned outdoor amenities surrounding the Blue Ridge Mountains. Ashville has a vibrant entertainment hub and its downtown area is filled with restaurants, shops, art galleries, museums and gardens.

Greystone, a leading multifamily lender, provided a Freddie Mac Optigo® loan to finance the acquisition, which was originated by Rob Russell and Richard Kourbage.

10100 Santa Monica Blvd, Suite 400
Los Angeles, CA 90067
(424) 325-2750
TruAmerica Multifamily is a Los Angeles-based investment firm focused on acquiring, renovating, and managing multifamily housing throughout the United States.
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