Madison Communities Acquires Asheville Multifamily Community for DST Offering
Madison Communities, the multifamily development affiliate of Madison Capital Group Holdings, has acquired Madison Long Shoals, an 86-unit Class A multifamily community previously known as Venture at Long Shoals in Arden, N.C., expanding the company’s presence in the Asheville metropolitan area.
The multifamily asset was acquired on behalf of MCG Arden NC Multifamily DST, a Delaware statutory trust offering.
“Madison Long Shoals represents the type of high-quality, well-located asset that aligns with our long-term investment strategy,” said Collin Ross, senior vice president of portfolio management for Madison Communities.”
Completed in 2024, Madison Long Shoals features modern architecture, upgraded interiors, and access to outdoor recreation. The community sits near Lake Julian and offers long-range views of the Blue Ridge Mountains. According to the company, the property is positioned to attract renters seeking Class A apartments in the Asheville and Arden–South Asheville submarkets.
“The Asheville market continues to show durable fundamentals and strong demand drivers, making this an attractive opportunity for both performance and stability. We see meaningful upside in the years ahead and are confident this community will be a strong addition to our portfolio,” added Ross.
Multifamily community amenities include a fitness and yoga studio, coworking and conference spaces, a resident clubhouse, secure package rooms, and outdoor gathering areas.
The company has rebranded Venture at Long Shoals as Madison Long Shoals to support naming cohesion and the resident experience across the portfolio. This acquisition also strengthens Madison Communities’ presence in the Asheville MSA, marking its third asset in the market.
“Madison Long Shoals is a well-crafted community in a highly desirable part of the Asheville market, and we’re excited to bring it into the Madison portfolio,” said Rachael Anderson, vice president of operations for Madison Communities. “Our team is focused on delivering a seamless, high-quality living experience from day one, and this property’s thoughtful design and strong location provide an excellent foundation for that. We look forward to elevating operations, supporting our residents, and creating long-term value for both the community and our investors.”
Located along Long Shoals Road, the community is minutes from Asheville’s medical corridor, major employment centers, highly rated schools and the dining and retail options in Biltmore Park. Steady population growth, a limited new supply, and continued demand for Asheville apartments underscore the area’s long-term appeal, according to the company.
The acquisition reflects Madison Communities’ strategy to invest in high-quality, durable communities across the Southeast, delivering well-located assets that meet resident needs and support consistent investor performance. Madison Communities currently operates 26 communities with eight additional projects under construction.
Over the summer, Madison Capital Markets – another affiliate of Madison Capital Group – fully subscribed Madison Ridge DST, a nearly $77.7 million DST investment offering launched in March 2024. The trust owns Madison Ridge, 240-unit luxury apartment community located the Greater Charlotte metro region. More recently, Madison Capital Group, appointed Matt McCoy as president of Madison Commercial LLC, its net-lease and commercial real estate division.
With more than $6 billion in real estate transactions, Madison Capital Group, headquartered in Charlotte, N.C., is the parent entity of Go Store It Self-Storage, a non-traded direct investment sponsor emphasizing self-storage, and Madison Communities, a vertically integrated real estate development and investment firm dedicated to apartment communities throughout the Southeast.
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