Grand Highlands at Bearwallow Mountain



Location: Asheville/Hendersonville, NC
Description: 117 fully improved, residential mountainside lots & completed clubhouse on 192 acres.
Investment Date: 2011
Opportunity: Purchased NPL’s from regional bank & obtained land collateral backing the notes.
Investment Thesis: Value of lot sales over next 7-10 years will be 3-5x purchase price of the bank notes.
Status/Results: Project approximately 60% sold. Generating anticipated IRR & capital multiple.