L Star Management and Lennar Close Ellington Place (formerly Laurel Park) in Apex, NC
RALEIGH NC—L Star Management, LLC has announced the acquisition of Ellington Place (formerly Laurel Park) in Apex, NC. The acquisition was a joint purchase between L Star and Lennar. Lennar purchased phases 1 and 2 and L Star phase 3.
Consisting of 101 single family lots, phase 1 of the community is developed with the remaining two phases undeveloped. Ellington Place is close to several major retail centers in both Cary and Apex.
“This is a great closing for both our firms,” said Kyle Corkum, Managing Partner of L Star. “Ellington Place is a great community in a great location. With easy access to Apex High School, RTP and other major employment areas, the community was highly sought after by many of the national and regional homebuilders.”
L Star is a real estate investment firm that specializes in distressed debt based in Raleigh, North Carolina. The firm partners with some of the country's pre-eminent private equity and wealth management funds, L Star acquires assets across the Southeast.
L Star's senior staff has more than 200 years combined experience in the disciplines of land acquisition, project/asset management, site development, design, planning, permitting, real estate law, finance and construction. As of Q4 2011, L Star has closed over 7,200 units in the Carolinas. For more information visit: http://www.LStarLand.com.
Media Contact:
Kyle Corkum
L Star Management, LLC
(919) 256-1981
(919) 256-1982 (fax)
Kyle@LStarLand.com