Charlotte Business Journal staffer Ken Elkins reports that BB Carolina Holdings, a North Carolina limited-liability company for which Bonterra Builders President Darren Sutton serves as registered agent, bought 214 acres near Lake Wylie. A mixed-use residential project is what observers believe is the plan for the Charlotte-area tract.
The Charlotte Observer's Ely Portillo also picked up on the deal, noting that BB Carolina Holdings paid an affiliate of Crescent Communities just over $6 million for the site. What's not clear is whether Sutton is or is not operating exclusively with Bonterra, which AV Homes purchased last year. Portillo writes:
A Bonterra lawyer said BB Carolina Holdings is not affiliated with Bonterra, which was purchased by Arizona-based AV Homes acquired last year for $96 million. Bonterra has continued to operate under its brand in the Charlotte region.