Charlotte, North Carolina (September 2021) – Appaloosa Real Estate Partners has acquired Blue Ridge Storage Center located at 15 Fallen Spruce Drive in Asheville, NC. The self-storage facility is situated on 2.1 acres of land and is comprised of 134 self-storage units and 10 parking spaces.
“Asheville is experiencing significant demographic tailwinds and we are excited to enter the market. We view Asheville as a natural extension of our existing Western Carolina and Charlotte, NC operations. We look forward to continuing to grow our presence in the market, said Brian Miller, Partner.” The property is located a short drive from downtown Asheville.
Blue Ridge Storage Center was built in 2004 and is currently 93% occupied.
About Appaloosa Real Estate Partners
Appaloosa Real Estate Partners, based in Charlotte, NC, is a vertically integrated commercial real estate investment firm that specializes in the development, acquisition and management of self storage properties throughout the Southeast. AREP’s mission is to deliver exceptional value for customers in the communities within which it operates while generating superior risk-adjusted returns for its investors. Appaloosa’s principals have $40 billion in executed commercial real estate and corporate transaction experience. Investments are capitalized through partnerships with accredited investors. Learn more at www.appaloosarep.com.