LangTree Lake Norman Apartments Sells For $76M
By Collin Huguley – Staff Writer, Charlotte Business Journal
A large mixed-use property at the LangTree development on Lake Norman has been acquired by a Raleigh-based asset management firm.
Last week, Blue Heron Asset Management bought Langtree at Lake Norman apartments for $76 million, Iredell County real estate records show. The deal included 300 apartments and 48,000 square feet of ground-floor retail space. The property at 150 Landings Drive was acquired from Langtree Development Co., records show.
The apartment complex was developed in 2013. It includes one-, two- and three-bedroom floor plans. Blue Heron plans to improve the community space and upfit the interiors of the units.
“We’re excited to be a part of the LangTree community and believe the property’s location is truly irreplaceable,” said Kevin Wade, managing director at Blue Heron Asset Management. “With our operational plans and community improvements, LangTree Lake Norman will continue to be a special part of the town of Mooresville, offering a great place to live for our residents along with destination retail on the lake.”
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