Clarion Partners Real Estate Income Fund buys multifamily community in Asheville, N.C.

Clarion Partners Real Estate Income Fund Inc. has bought Retreat at Weaverville, a 176-unit multifamily community located in Asheville, N.C., for undisclosed sales price from an unnamed seller.

Located within two hours of Charlotte, N.C., and four hours of Atlanta, Asheville is a thriving mountain city that offers residents and tourists access to extensive outdoor activities via the Blue Ridge Mountains and surrounding national forests. Asheville continues to expand its employment base in hospitality, healthcare, manufacturing and science and technology, driving higher than national-level population growth. Retreat at Weaverville is located within one mile of Interstate 26, providing direct access to the Asheville Regional Airport and numerous retail and lifestyle amenities in downtown Asheville and the River Arts District.

“With its strong market fundamentals, multifamily remains well-positioned to weather today’s challenging economic conditions,” said Rick Scha