Comstock Holding Companies, Inc. has entered into a purchase agreement to acquire The Ascher, a Class A multifamily property located in Uptown Charlotte, North Carolina.

Expected to close in the fourth quarter of 2026, the acquisition marks Comstock’s entry into the North Carolina residential market. The deal represents the third purchase in 2026 under the firm’s Institutional Venture Platform (IVP), following earlier acquisitions of The Reed and Woodland Pointe.

Completed in 2016, the residential complex comprises two 24-story towers featuring 672 units across studio, 1-, 2-, and 3-bedroom layouts. The site includes roughly 13,000 square feet of ground-floor retail space alongside a secure parking garage providing over 900 spaces. Residents share a sixth-floor rooftop courtyard equipped with a regulation tennis and pickleball court, a bocce court, a putting green, lounge seating, fire pits, barbecue areas and a fenced dog park with a pet spa. Both towers feature private sky terraces with rooftop pools, fitness centres and clubhouses.

Situated between Uptown Charlotte and the historic Fourth Ward, the property offers direct access to the LYNX Blue Line rail station. It lies within walking distance of major corporate employers, including Bank of America, Wells Fargo, Truist and Duke Energy.

Comstock is acquiring the complex through its IVP structure, which pairs company operations with institutional capital partners providing 80% to 95% of equity requirements. Comstock maintains a minority equity stake while collecting asset and property management fees.

The firm has deposited $2.0 million towards the purchase price and completed transaction due diligence under a shared expense arrangement. Before completing the acquisition, Comstock will draft a comprehensive refurbishment strategy for the towers.

Christopher Clemente, Comstock’s Chairman and Chief Executive Officer, said: “The Ascher is a rare opportunity to acquire a value-add, commuter-friendly high-rise community in the heart of one of the strongest, most dynamic urban cores in the Southeast. Our expansion into North Carolina underscores the strength of our IVP and extends our proven vertically integrated operating platform into a new, high-growth market, creating meaningful value for our strategic partners, residents, and shareholders.”