From Staff Reports

Ellington Realty Group announced on June 6 the sale of two properties — home to two popular restaurants — in downtown Asheville.

The first, 48 Biltmore Avenue, was sold to Big Tex San Antonio, LP, for $3.2 million. 

The building, adjacent to Barley’s Tap Room & Pizzeria and across the street from the Aloft Hotel, is home to Chestnut Restaurant and Bar. 

While Lifshutz is a major developer in San Antonio, his portfolio includes the River Arts District’s Phil Mechanic Studios, which he purchased in 2016.

 The other building, 26 Battery Park Avenue, was sold to Atlanta-based Collaborative Partnership Properties, LLC, with principals Samuel and Laura Rawlins. The building, identified by its tenant Kilwin’s Chocolates, Fudge & Ice Cream, sold for $2.4 million.

 Spokespersons from Ellington Realty indicated that Chestnut, Kilwin’s and Appalachian Natural Soaps — which also runs out of 28 Battery Park — will continue to do business uninterrupted. 

What’s more, the upper floors of the Battery Park building will continue to be rented as office space.

“This building has been owned by the same family since 1943, and we are pleased that the new owner is a local investor who owns two other downtown properties,” Burns Aldridge, managing broker of Ellington Realty Group (who represented the buyer), announced in a press release.

The previous owner reportedly was the Anne Enman Jaegglie Family Trust.