Northmarq’s Carolinas Multifamily Investment Sales team led by Andrea Howard, Caylor Mark, John Currin, Allan Lynch, Jeff Glenn and Austin Jackson successfully brokered the $55 million sale of Braxton at Lake Norman, a 232-unit multifamily luxury townhome style community in the Charlotte MSA.
Northmarq represented the seller, Passive Investing, in this transaction. The buyer was Inwood Holdings LLC.
“While challenges remain in the market, demand for Carolinas multifamily persists — evident in our team conducting over 40 tours and garnering a significant number of offers. We were glad to reward our client with a successful outcome after selling this tremendous asset to them in 2020,” said Howard.
Braxton at Lake Norman is located at 118 Plantation Creek Dr. in Mooresville, North Carolina on approximately 20 acres. The multifamily community boasts 232 total units with a spacious average size of 1,055 square feet; 104 of those units include attached, direct access garages. Residents enjoy 9-foot ceilings with crown molding, granite countertops, stainless steel appliances, full-size, in-unit washer/dryer and more. Community amenities include a saltwater swimming pool, 24-hour fitness center with rock climbing wall, drive-thru mail kiosk, car wash station and pet park and spa.
In addition to an array of apartment and community amenities, the 184,411-sq.-ft. property offers residents a short commute to Charlotte’s city center (approx. 25 minutes) and various elite employers, including Lowe’s Home Improvement’s Corporate Headquarters, Corvid Technologies and Lake Norman Regional Medical Center.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq introduces clients to expanded opportunities across all major asset classes.
