Homebuilder Taylor Morrison paid $58 million for lakefront property outside of Charlotte.

Taylor Morrison says it will deliver a mix of townhomes, single-family homes and lakefront options in The Palisades neighborhood at Lake Wylie. The company is permitted to build 499 units on 162 acres. The Coves at Lake Wylie will be part of a master-planned community that will include retailers, grocers and a variety of restaurants 30 minutes from Charlotte’s city center.

Alex Phillips, Andy Slowik, Battle Smith and Sparling Davis of Cushman & Wakefield represented the seller, Drapac Capital. Phillips added, “What really set the Coves at Lake Wylie apart is the years of effort put in by Drapac Capital Partners to mitigate all controllable risk and deliver a fully approved site.” The developer is expected to begin work immediately.

Blue Heron Asset Management sold The Linden Apartments to Continental Realty (CRC) for $49.5 million. Blue Heron paid $28.5 million for the property in 2018. The apartment complex at 605 Jetton St. is just off Exit 30 of Interstate 77, near Lake Norman. The Linden is about a mile from Davidson College and downtown Davidson.

The Charlotte Business Journal reported that Blue Heron bought Langtree at Lake Norman apartments for $76 million in October 2024. The deal included 300 apartments and 48,000 square feet of ground-floor retail space.

CRC paid $96.3 million in February 2023 for Sycamore at Tyvola, which includes 288 apartments at 707 Sycamore Drive in Charlotte. In October of that year, CRC bought 1010 Dilworth Apartments for $51.9 million. That 184-unit complex at 1010 Kenilworth Ave. was acquired from PGIM Real Estate.

Marcus & Millichap closed the sale of a net-leased Starbucks location in Third Lake, Illinois. The property sold for $2,487,804.

“Quick-service restaurants are one of the most desired assets in the net leased space for our investors,” said Damien Yoder, first vice president of investments. Yoder and Madison Harman of The Yoder-Harman Group, investment specialists in Marcus & Millichap’s Indianapolis office, procured the buyer, 12947 Woodbridge Street, LLC, a private investor. Steven Weinstock, Broker of Record in Illinois, assisted in closing the transaction.

“The corporate tenants with strong balance sheets located at high visibility/high traffic locations are a major driver.,” added Yoder. “Their landlord-friendly leases with strong rental increases act as a strong inflation hedge and continue to push the demand for these types of investment assets.”

The Starbucks property is located at 34354 US-45 in Third Lake. Built in 2024, the asset boasts the tenant’s latest building prototype and high-capacity drive-through on a 1.09-acre lot.

Blue Heron Asset Management acquired a Lake Norman apartment complex for $76 million. RL West and Langtree Development were the sellers of the Langtree Lake Norman, a 300-unit midrise multifamily project in Mooresville. Berkadia brokered the deal.

LangTree Lake Norman includes approximately 48,000 square feet of ground-floor retail space with a mix of local and regional tenants. The joint venture retained ownership of Buildings 105 and 106 along Langtree Road and the commercial buildings fronting Mecklynn Road.

Blue Heron plans to upgrade the apartment unit interiors, which have remained largely untouched since their construction in 2013. The buyer assumed the existing HUD loan as part of the transaction. 

Located at 150 Landing Drive, LangTree Lake Norman features a clubhouse, a swimming pool, a fitness center, and a dog park.

Langtree Development Company was represented by Caleb Troop and Thomas Colaiezzi of Berkadia Charlotte, along with Brian Long of RL West.

 JLL has closed the sale of 4004 Kruse Way Place, a 59,865-square-foot medical outpatient building repositioning in Lake Oswego, Oregon. JLL represented the seller, Shorenstein, and procured the buyer, a joint venture between Evergreen Medical Properties and Bain Capital’s real estate team.

4004 Kruse Way Place is located in the Kruse Way submarket near downtown Portland. The three-story property is currently 74% leased and anchored by Providence Health & Services. Currently operating as a traditional office property, the buyer intends to convert the building to a premier outpatient healthcare facility to meet the high demand for medical outpatient space within the submarket.

Evan Kovac, part of JLL’s Capital Markets National Medical Properties group, collaborated closely with Buzz Ellis from the local Pacific Northwest Advisory team, in arranging the sale. JLL’s Debt Advisory team worked on behalf of the buyer to secure acquisition financing. The team was led by Anthony Sardo of the National Medical Properties group and Zach Kersten from the Pacific Northwest Advisory team.

The Rush Companies, in partnership with Village Concepts, has broken ground on a new senior living community, Village Concepts of Lake Stevens.

The four-story, 125,062-square-foot facility will deliver 140 units of independent living, assisted living, and memory care services to Snohomish County. Village Concepts of Lake Stevens will include 120 independent and assisted living units, 20 memory care units, and 72 surface parking stalls, including 4 EV charging stations. The property amenities will include a wellness center, theater, game and club rooms, library, salon, family kitchen, and secure, memory care courtyard.

Located at 9035 28th Place NE, the development is being built by Rush Commercial Construction, designed by Wattenbarger Architects, and financed by Rush Capital. Operations will be managed by Village Concepts.

“We’ve immensely enjoyed being a part of the community of Marysville since we opened Grandview Village in 1987, and we’re excited to expand our services throughout the area and reach those with memory care needs,” said Stuart Brown, CEO of Village Concepts. 

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).

Construction on Airabella Lake Oconee, a 137-acre mixed-use project east of Atlanta, is set to begin this summer. Choice Gateway is developing the project. The developers hope to complete all aspects of the project by 2026.

Plans call for a boutique Marriott hotel, restaurants, a brewery, office space and a retail section called Village at Airabella. Stand-alone homes and townhomes will also be included. Additional features will include greenspaces, a wedding venue, and a new nine-hole golf course.

The lodging component, Hotel Airabella, will feature a spa and amenities described as premium.

Choice Gateway says it is a commercial real estate development company focused on transforming underutilized urban locations into high-profile, multi-use facilities. As a portfolio developer, Choice Gateway selectively pursues developments that achieve significant positive community impact and that create lasting value.

AdventHealth began construction on a 10-story, $423 million hospital at 10999 Narcoossee Road in Orlando’s Lake Nona community. The 25-acre hospital will debut in 2026 with 80 beds, with shell space to expand to up to 320 beds. A medical office building and retail buildings also will be included.

An existing 19,000-square-foot freestanding emergency room at 10080 Lake Nona Blvd., which has been open since 2020, will remain open until the hospital debuts. The system has not determined a final use, but the ER could be repurposed into a medical office building, an outpatient surgical center or another use.

The Orlando Business Journal reports the goal will be to have an incision-less center, which includes using ultrasound to break up tumors and robotic surgical technology. Other specialties the hospital will feature will include bariatrics, cardiology, men’s health, neurology and orthopedics. The hospital will debut with 500 staff members.

ESA is the project architect, while Brasfield & Gorrie is the general contractor.