We are honored to announce that our own Austin Tyler was awarded a CoStar Impact Award for the Sale/Acquisition of the Year in the Asheville Market! The transaction was a public/private partnership with the City of Asheville to acquire the Ramada Inn for Permanent Supportive Housing.
“This deal is both a real estate transaction and a humanitarian project,” said Michael Hoffman, a senior real estate adviser at The Tessier Group. “This is a great repurpose of an obsolete property.”
“This sale will move the needle on the betterment and stability of the unhoused population that is most in need in this market,” said Austin Walker, a senior adviser at Whitney Commercial Real Estate Services.
The sale “displays innovative thinking and an example of a municipality offering a practical solution to the difficult issue of homelessness,” said Carla Barnard, managing director at Carla & Co. Real Estate Services.
Read the full article: https://www.costar.com/article/560770731/aging-hotel-in-north-carolina-sold-for-conversion-to-apartments-for-homeless