L Star Management Completes Acquisition of Weston Downs for Meritage Homes
DURHAM NC—L Star Management, LLC announces the closing of Weston Downs with Meritage Homes. This is Meritage’s second acquisition in the Raleigh/Durham market.
Located in the high demand, south Durham market, Weston Downs is a partially-developed custom home community in Durham, NC. Twenty-two lots were developed in Phase 1, six lots were sold, and sixteen remain. Six homes have been built to date. Phase 2 is approved for fifty-two additional lots.
“Just four miles from UNC-Chapel Hill and only five miles from the Streets at Southpoint Mall, Weston Downs is in a great location,” says Kyle Corkum, Managing Partner of L Star. “Meritage Homes will have great success in this community.”
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