Matthews™ Auction Services Sells Hospitality Asset in Georgia

ATLANTA, GA— Matthews™, a commercial real estate investment services and technology firm, facilitated the $9,150,000 sale of the former Apple Mountain Resort, located at 901 Rockford Creek Rd in Clarkesville, Georgia. Matthews™ First Vice President & Associate Director Connor Kerns, First Vice President Mitchell Glasson, and Vice President of Auction Services Robert Anderson facilitated the transaction, marking the firm’s second successful auction services sale with the seller this year.

 

Spanning 90,960 square feet across eight buildings, the 100% vacant value-add asset offers an attractive per-room basis for redevelopment with minimal end-use restrictions. The property features 96 two-bedroom suites, each equipped with a king bed, kitchen, Wi-Fi, and televisions, complemented by resort amenities including a swimming pool and golf course.

 

The seller, a repeat client who had successfully placed assets up for bid as part of a broader portfolio restructuring, sought Matthews through a Crexi broker introduction to extend their auction strategy outside of Texas. Leveraging the hyper-specialization of the firm’s in-house auction services, hospitality, and multifamily divisions, the Matthews™ agents targeted hospitality and multifamily housing investor driving significant interest and a competitive bidding environment, despite the complexities of the site’s golf course operations.

 

After conducting 23 property tours and attracting 13 approved bidders, Matthews sourced the buyer, who had been actively pursuing deals on Crexi’s auction platform. Looking to acquire a significant value-add project, the buyer provided a nonrefundable 10% deposit, allowing the seller to secure a 50-day escrow with certainty of close.

 

“Exceeding the auction reserve by more than 20% on a 100% vacant asset is a testament to the strength of our platform and the depth of our buyer relationships,” Anderson said. “By leveraging our multifamily, hospitality, and auction divisions together, we were able to generate the kind of competitive environment that delivered an exceptional result for our client.

 

For more information, please contact Robert Anderson, Connor Kerns, Mitchell Glasson or visit www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.