The Hoyt Organization
Mountain Real Estate Capital And L Star Acquire Brightleaf at the Park
Torrance, CA - February 7, 2012 - (RealEstateRama) -- Mountain Real Estate Capital (MREC) and L Star Management (L Star) are proud to announce the acquisition of Brightleaf at the Park in Durham, N.C. As one of the premier master planned communities in the Triangle, Brightleaf’s proximity to Research Triangle Park (RTP) makes it highly sought after by both homebuilders and homebuyers. The acquisition is comprised of 900 residential lots with products ranging from townhouses to single-family lots, widths from 50 to 90 feet. The terms of the deal were not disclosed.
Westwood Financial Corp. Purchases Retail Center in Southeast
Morrisville, NC - July 18, 2011 - (RealEstateRama) -- Westwood Financial Corp., one of the largest owner-operators of shopping centers in the U.S., has purchased McCrimmon Corners, an 86,267-square-foot retail center in Morrisville, N.C., from seller Crosland. The acquisition of the center falls in line with Westwood Financial’s strategy to use funds from numerous 2011 dispositions to invest in Southeastern markets.
Mountain Real Estate Capital Acquires and Restructures Note on 270-Acre Master Plan
Torrance, CA - February 15, 2011 - (RealEstateRama) -- Charlotte-based Mountain Real Estate Capital (MREC) recently closed another acquisition: a $20 million note held by CommunityOne Bank of Asheboro, N.C., which is secured by the Kellswater Bridge community in Kannapolis, N.C. MREC also worked with the current developer to restructure the debt and allow for a smooth transition of ownership. MREC will team with Raleigh-based LStar Land as its co-developer of the project. MREC and LStar plan to reposition sections of the project and accelerate development and sales to qualified national and local homebuilders.
Mountain Real Estate Capital Closes on Another Bank REO Acquisition from Bank of America
Charlotte, NC - September 27, 2010 - (RealEstateRama) -- Charlotte-based Mountain Real Estate Capital (MREC) continues the success of its bank REO/NPL acquisition platform by closing its second acquisition from Bank of America in the last three months. The first is a 1,000-unit active adult project located in the U.S. 27 corridor of Orlando, which closed in June. The second is a San Diego partially completed subdivision of 17 lots and four completed models, which recently closed in August