Biltmore Park Town Square
A mixed-use property in Asheville, North Carolina. Securitized in 1 CMBS deal in 2024.
$154.2MAppraised value (latest deal)
94.9%Occupancy
$9.5MUnderwritten NOI
6.1%Implied cap rate
- Address
- 1 Town Square Boulevard, Asheville, NC 28803
- Property type
- Mixed Use · Retail/Multifamily/Office
- Year built
- 2009
- Size
- 499,998 SF
- Sponsor
- Biltmore Farms, LLC and Crosland, LLC
- Loan purpose
- Refinance
- Largest tenant
- Regal Cinemas
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2024-BNK48 | 2024-10-01 | $154.2M | 94.9% | $9.5M | 6.1% | $90.0M | 58.4% | 1.59x | 424B |
Historical NOI reported in BANK 2024-BNK48
| Period ending | NOI |
|---|---|
| 5/31/2024 | $8.3M |
| 12/31/2023 | $8.4M |
| 12/31/2022 | $7.4M |
More CMBS properties in North Carolina →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.