SCM Asheville Investors, LLC is a joint-venture with an Atlanta-based commercial real estate developer for the acquisition and adaptive re-use development of two hotels in Asheville, NC. SCM provided Upside Preferred Equity to the partnership and was paid a current distribution during the development period and will receive a disproportionate amount of cash flow distributions during operations. The hotels opened for business in October 2023 and have been well received by guests and the local community. Asheville and its surrounding areas are on a strong recovery path after the impact of Hurricane Helene.