Glen Allen, VA-based Capital Square has acquired the Retreat at Arden Farms Apartments, a 312-unit apartment community in the Asheville suburb of Arden, NC. The community was acquired on behalf of a DST entity that seeks to raise $68 million from accredited investors and has a minimum investment requirement of $50,000.

Michael Saclarides, Devin Bryan and Jacquelyn Aaron of Cushman & Wakefield represented the sellers, Tynes Development Corporation.

The 28-acre community is situated in the midst of the Blue Ridge Mountain, nine miles from The Biltmore Estate. It offers one-, two- and three-bedroom units with mountain views plus clubhouse, cyber café, saltwater pool, 24/7 fitness center, wellness studio, poolside grilling area, “bark park,” and private garages and storage units.

The property has direct access to Interstate 26 and is a 15-minute drive to downtown Asheville. Biltmore Park Town Square, a mixed-use retail center featuring restaurants, shopping and entertainment, is 1.5 miles from the property.