Blue Heron Asset Management Acquires LangTree Lake Norman Multifamily Property In Mooresville For $76M

LangTree Lake Norman is a 300-unit multifamily property located at 150 Landing Drive in Mooresville, NC. The sale price for the property was $76,000,000, resulting in a per unit price of $253,333.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $76,000,000
• Units: 300
• Buyer: Blue Heron Asset Management, LLC
• Seller: Langtree Development Company
• Brokers: Caleb Troop, Thomas Colaiezzi - Berkadia & Brian Long - RL West

Berkadia facilitated the transaction of LangTree Lake Norman, representing the interests of both the buyer and the seller in this multifamily asset deal.