FOR IMMEDIATE RELEASE:
NAI Beverly-Hanks and Allen Tate/Beverly-Hanks Close on 644-Acre Property in Henderson County
February 21, 2024 (Asheville, NC)—Allen Tate/Beverly-Hanks, REALTORSⓇ, the leading real estate company in Western North Carolina, has sold a 644-acre property in Henderson County known as “Horse Shoe Mountain”. The property closed today for $15 million.
Horse Shoe Mountain was co-listed by Billy Harris of Allen Tate/Beverly-Hanks’ South Brevard office and Karl Nelson, CCIM, of NAI Beverly-Hanks, the leading local commercial real estate firm of Asheville’s MSA.
Since 2022, Harris has been consistently ranked as one of the top real estate brokers in WNC with a focus on land and luxury property. Over the past 20 years, he has sold 850 list/sales sides amounting to $250 million.
“I have spent over 20 years in this business, and during that time, I’ve had the privilege of selling a few tracts over 500 acres,” said Harris. “Honestly, when I first toured this property, I had no idea that something this extraordinary still existed in the greater Asheville marketplace. Karl and I dedicated numerous hours exploring every inch of the 644 acres to ensure it was the perfect fit for the buyer, and we’re confident that this legacy property is now in excellent hands.”
Horse Shoe Mountain is one of WNC’s largest land tracts, making it also one of the most versatile parcels in the region outside of state and national forests. With sweeping mountain views and pristine woodland, this rolling, parklike expanse is a totally unique corner of the Blue Ridge.
The mountain is easily accessible from many local communities. Property highlights include:
- Located next to the renowned 650-acre golf community of Cummings Cove
- Close proximity to the Ecusta Trail system, an upcoming 18-mile multi-use trail connecting Hendersonville to Brevard, NC
- Across the highway from French Broad River access points
- Unobstructed views of the Blue Ridge Mountains and surrounding ranges
- Partial road system traversing the property with gentle topography throughout
- Less than 20 minutes to the Asheville Regional Airport, Downtown Brevard, Downtown Hendersonville, DuPont State Recreational Forest, and Pisgah National Forest
“Most 100-plus-acre tracts we look at today are either farmland with limited trees or not a great location because the topography is steep and views are limited,” said Harris. “To find a tract of 644 acres that is untouched with the exception of a fairly robust roughed-in road system and is only 15 minutes from the Asheville airport and downtown Hendersonville—it truly is a legacy tract and a very special find.”
Because of the property’s unique location and attributes, Nelson was brought in to extend his commercial real estate expertise to the sale.
“One of the most challenging aspects of this sale was the property’s sheer size and diversity,” said Nelson. “Managing a property of this great size requires a nuanced understanding of its potential uses, zoning regulations, and the intricacies of large-scale transactions.”
Nelson and Harris conducted an in-depth analysis to segment the property, highlighting its best uses for different buyers.
“This strategic segmentation allowed us to attract a broader spectrum of interested parties, thereby maximizing the property’s value and appeal,” said Nelson. “This quick sale exemplifies our firm’s commitment to leveraging our extensive network, deep market knowledge, and innovative strategies to achieve optimal outcomes for our clients.”
WNC’s ultra-luxury real estate market has picked up considerable steam over the last decade, and especially since emerging from the pandemic. From 2014–2019, two homes in WNC sold for more than $5 million. During COVID (2020–2021), that number rose to six homes. In the two years since the peak of the pandemic (2022–2023), 11 homes sold for more than $5 million. These trends appear here to stay for the foreseeable future.
“The quick sale and premium price of this parcel reinforce the significant shift in our local WNC market dynamics,” said Josh Baker, Vice President of Marketing at Allen Tate/Beverly-Hanks. “Both individual buyers and investors are increasingly drawn to the allure of the Western North Carolina mountains, and our well-established luxury network consistently delivers exceptional results in transactions of this caliber.”
Horse Shoe Mountain offers many possibilities for its buyer, represented by John E. Haynes of Retreat Realty, Ltd.—Keller Williams Professionals. At this time, Allen Tate/Beverly-Hanks has no knowledge of the buyer’s plans for the property.
See more information about Horse Shoe Mountain at horseshoemountainnc.com. Reach out to Billy Harris at (828) 553-9666 or [email protected], or Karl Nelson, CCIM at (828) 713-0927 or [email protected].
About NAI Beverly-Hanks
NAI Beverly-Hanks is the commercial branch of Allen Tate/Beverly-Hanks, REALTORSⓇ. In addition to NAI Global, NAI Beverly-Hanks is also affiliated with Society of Industrial & Office Realtors (SIOR), Certified Commercial Investment Members (CCIM), and the International Council of Shopping Centers (ICSC). Those affiliations enable the firm to extend services to companies and investors throughout the nation, as well as internationally.
About Allen Tate/Beverly-Hanks, REALTORSⓇ
Allen Tate/Beverly-Hanks is a full-service real estate firm offering residential and commercial sales, marketing, and consulting services across Western North Carolina. In addition to these core business platforms, Allen Tate/Beverly-Hanks has strategic partnerships in several related industry ventures, including mortgage, insurance, and title.
About Allen Tate Companies
Allen Tate Companies is the Carolinas’ leading real estate company, based on closed transaction sides, with 73 offices and more than 2,100 Realtors® in the Charlotte, Triad, Triangle, High Country, Highlands/Cashiers, and Asheville/Mountain regions of North Carolina, as well as the Upstate region of South Carolina. Allen Tate provides real estate, mortgage, insurance, and relocation services throughout the entire homeownership lifecycle. We are committed to providing and protecting quality of life for the communities we serve. For more information, visit allentate.com.
About Howard Hanna
The Hanna Family of Companies proudly provides real estate, title, insurance, and mortgage services to clients across 13 states. As the largest family-owned and -operated real estate brokerage in the United States, this full-service real estate company has more than 500 offices and 15,000 sales associates and staff, including many of the industry’s top-producing real estate, title, mortgage, and insurance agents. For more information, visit howardhanna.com.
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