/

|

An affiliate of Blue Heron Asset Management has acquired the 300-unit LangTree Lake Norman, a Mooresville, N.C., community, for $76 million. Langtree Development Co. sold the Charlotte-area asset.

The buyer assumed the $42.8 million outstanding balance of a HUD loan originated by Manufacturers and Traders Trust Co. that carries a 3.12 percent fixed interest rate, according to Yardi Matrix information. Berkadia and RL West brokered the deal.