Lake Norman Apartment Asset Trades for $55M

Passive Investing has unloaded a 232-unit Lake Norman apartment complex for $55 million. Inwood Holdings was the buyer. Built in 2014, the apartment complex is situated near the shores of Lake Norman, North Carolina’s largest man-made body of fresh water, with immediate access to Interstate 77.

A Northmarq’s Carolinas Multifamily Investment Sales team led by Andrea Howard, Caylor Mark, John Currin, Allan Lynch, Jeff Glenn and Austin Jackson brokered the sale of Braxton at Lake Norman. 

Braxton at Lake Norman is located at 118 Plantation Creek Dr. in Mooresville, North Carolina, on approximately 20 acres. The multifamily community units boast an average size of 1,055 square feet; 104 of those units include attached, direct-access garages. 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.

The 184,411-square-foot property offers residents a short commute to Charlotte’s city center (approx. 25 minutes).