Northmarq’s Carolinas Investment Sales team announces $55 million sale of luxury townhome-style community in Charlotte MSA

CHARLOTTE, N.C. (Aug. 21, 2024) — 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 community in the Charlotte MSA. Built in 2014, the apartment complex is ideally situated near the shores of Lake Norman, North Carolina’s largest man-made body of fresh water, with immediate access to Interstate 77.

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.