USA. Montecito acquires apartment community at Biltmore Laketo convert to condominiums

Thursday, 29 June 2006

Montecito Northview, LLC an affiliate of Montecito Property Company, LLC has acquired Northview at Biltmore Lake in Asheville, N.C. Montecito plans to convert the apartment community to condominiums.

The property, which will be renamed Seasons at Biltmore Lake, is a 252-unit community of one-, two- and three-bedroom floor plans within nine three- and four-story buildings beautifully situated on 31.57 acres near Biltmore Lake.

"Seasons at Biltmore Lake is located in one of the most beautiful areas in Asheville and provides buyers the opportunity to own a part of all that Asheville has to offer at an exceptional value," said Chip Conk, CEO, Montecito Property Company.

Current residents will be offered special discounts prior to Montecito's Grand Opening Sales Event to be held on July 23 starting at 1:00 p.m., which is open to the public. The condominiums will be available at an incredible value.

Homes feature nine-foot ceilings with crown molding, full-size washer/dryer, GE appliances, and private patios and balconies. Third-floor homes also feature wood-burning fireplaces. Select homes have detached garages and supplemental storage. The community features a resort-style swimming pool with a large sun deck, state-of-the-art fitness center and walking trail.

Montecito Property Company is based in Jacksonville, Florida and specializes in converting newer apartments to condominium communities. In 2005, Montecito generated more than $1 billion in real estate sales. The company's success has come from acquiring apartment communities in desirable neighborhoods and offering them at competitive prices to first-time buyers, second-home seekers and investors.

Last Updated ( Thursday, 29 June 2006 )