Comstock Agrees to Buy 672-Unit Charlotte Apartment Complex

Comstock Holding Companies has agreed to buy a 672-unit apartment community in Uptown Charlotte, a deal that would mark its first multifamily acquisition in North Carolina if it closes.

The seller will retain Comstock’s $2 million contract deposit and deduct it from the amount due when the transaction closes. Comstock has not disclosed the total purchase price. Closing is expected in the fourth quarter of 2026.

The Ascher opened in 2016. Its residential space is divided between two 24-story towers, alongside about 13,000 square feet of ground-floor retail and a parking garage with more than 900 spaces.

The acquisition would be the third Comstock has made in 2026 through its Institutional Venture Platform, after The Reed and Woodland Pointe. The platform generally uses joint ventures in which institutional partners provide 80% to 95% of required equity. Comstock typically retains a minority stake and provides real estate services, though the company has not disclosed the Charlotte transaction’s equity split.

Comstock Chairman and CEO Christopher Clemente called The Ascher “a rare opportunity to acquire a value-add, commuter-friendly high-rise community.”