Lennar Multifamily Communities LLC acquired the Novel Stonewall Station apartment community in Charlotte, N.C., from Crescent Communities for $171 million, the Charlotte Business Journal reported, citing Mecklenburg County real estate records.
The deal includes the 459-unit multifamily portion of the property at Stonewall and Caldwell streets and its parking deck. Crescent Communities previously sold the development's retail space to Asana Partners for over $34 million, according to the publication.
The buyer is the multifamily division of homebuilder Lennar Corp.
