L Star completes Glen Lake land acquisition for Ashton Woods Homes Continues development of prestigious 147-lot community

RALEIGH NC - February 22, 2011- L Star ManagementLLC has announced the land acquisition of Glen Lake, a prestigious infill community located off Glen Eden Drive near the I-440 Beltline where Downtown merges with North Raleigh.

The land development deal, which is the third one L Star has completed for Ashton Woods, includes eight single-family lots, 78 villa pads and land for 61 additional villa units.

"This beautiful community is a hidden gem in Raleigh," said Kyle Corkum, President of L Star Management LLC. "With their attention to detail, fine architectural style and reputation for high quality, Ashton Woods is the ideal builder to construct the rest of the homes in this community."

According to L Star, architecture is based on classic European influences featuring arched windows, tapered columns and steep pitched roofs over brick and stone exterior walls. The tree-lined streets of the community are complemented by carefully manicured landscaping and extensive stone work.

The community is in excellent proximity to downtown Raleigh, the Beltline, Interstate 40, Rex Hospital and the NC State University Campus.

About LStar:
L Star is a highly experienced site development 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 management, asset management, site development, design, planning, permitting, real estate law, financial risk mitigationand construction.As of February 2011,L Star Management LLC has closed more than 5,000 units in the Carolinas. For more information visit: http://www.LStarland.com

5511 Capital Center Drive Suite 105 Raleigh, NC 27606

This release was published on openPR.