Matthews™ facilitated the sale of Apple Mountain Resort in Clarkesville, Georgia, a 100% vacant former resort asset positioned for a significant value-add redevelopment opportunity. The Matthews™ agents leveraged a national marketing platform segmented across hospitality, multifamily, housing, and auction-buyer pools. This approach generated competitive interest and helped exceed the auction reserve by more than 15%. The transaction also marked Matthews’™ second successful former resort sale with the seller in 2026.

 

Challenge

The asset’s non-operating status, lack of historical financials, and former resort use created underwriting complexity for prospective buyers. The Matthews™ agents needed to reposition the property beyond its prior hospitality function and communicate its broader potential for housing or multifamily conversion. Buyers required clarity around end-use flexibility, vacancy, and basis. The agents addressed these challenges by guiding market feedback into a clearer value narrative.

 

Strategy

The Matthews™ agents used hyper-specialized expertise across multifamily, hospitality, and auction execution to expose the asset to a broad and qualified buyer universe. The national campaign drew multiple prospective bidders and created a collaborative underwriting process that uncovered additional upside at the property. The agents positioned the offering around vacant possession, limited end-use restrictions, and an attractive per-room basis. This strategy helped convert buyer interest into a confident, competitive bidding environment.

 

Result

The seller secured a 50-day escrow with strong certainty of closing, supported by a buyer going nonrefundable with a 10% deposit on day one. The buyer achieved entry into a substantial value-add project at an attractive pricing basis, with flexibility to pursue future redevelopment plans. Ultimately, the transaction closed at 122% of reserve and had a total of 13 approved bidders. The Matthews™ agents delivered meaningful market exposure, exceeded auction expectations, and created a transaction structure aligned with both parties’ objectives.