L Star and Ashton Woods Acquire Grace Park Townhomes
RALIEGH NC—L Star Management LLC has facilitated the closing of Grace Park Townhomes for Ashton Woods. As part of the larger Grace Park development, the purchase included 52 townhouse units in nine buildings. The community is located in Morrisville, NC about one mile from Research Triangle Park which employs 80,000 people. Its close location makes Grace Park a highly desirable place to live.
Amenities include park areas, a playground and greenway access with connectivity to the Town of Morrisville’s entire park system. As part of Grace Park, and within walking distance, are several commercial and retail shops including Starbucks, 24 Hour Fitness, Carmike Cinemas, KinderCare, plus a number of specialty shops and restaurants. The acquisition includes the partially complete units as well as the townhome pads.
“We see Grace Park as a great opportunity,” said Kyle Corkum, President of L Star. “It’s an urban infill, mixed use development with wonderful amenities and a dynamite location. Ashton Woods is the perfect builder for this location. We’re thrilled to get the townhome portion of this development moving again.”
L Star is a highly experienced site selection and asset management firm based in Raleigh, North Carolina. Partnering 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 land acquisition, project/asset management, site development, design, planning, permitting, real estate law, finance and construction. As of Q3 2010, L Star Management LLC has closed nearly 3,750 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