Comstock to Acquire The Ascher in Uptown Charlotte

Comstock Holding Companies has agreed to acquire The Ascher, a 672-unit community at 640 N Church St in Uptown Charlotte. The deal, made through its Institutional Venture Platform, marks the company's first multifamily acquisition in North Carolina. Comstock placed a $2 million deposit; the acquisition price and institutional partner were not disclosed.

The Ascher, formerly SkyHouse Uptown, comprises two 24-story towers completed in phases in 2015 and 2017. Novare Group developed the project with BCDC as co-sponsor. Smallwood, Reynolds, Stewart, Stewart & Associates designed the buildings; Batson-Cook Construction was general contractor.

The property includes about 13,000 square feet of ground-floor retail and a parking garage with more than 900 spaces. Amenities include a rooftop pool, fitness center, clubhouse and sky lounge, outdoor kitchen, rooftop terrace, 24-hour concierge, a sixth-floor outdoor park, and controlled-access parking. Novare sold the community to CBRE Global Investors for a reported $190 million in 2019.

The property sits near a LYNX Blue Line station and Charlotte's central business district.