Sentosa Lake Norman: Mooresville’s newest Thriving Community
Located two miles southwest of downtown Mooresville near the banks of Lake Norman, the 23.34-acre Sentosa Lake Norman marks the first phase of M Group Companies’ larger 120+ acre Pope Templeton master-planned community.
Progress on the project is well underway. Sentosa Lake Norman is fully entitled and permit-ready, with all construction documents officially approved by the city. Once vertical construction is complete, the community will feature 300 multifamily residences averaging 1,039 square feet, with projected lease-up rents of $1,726.
With average rents that align with the current demand, the project will deliver much-needed market-rate apartments to support Mooresville’s continued growth as the area attracts new residents and employers.
Home to nearly 53,000 residents,1 Mooresville’s thriving local job market, proximity to Lake Norman, and convenient access to the greater Charlotte region’s major financial and corporate hubs have made it a popular submarket for residents interested in living within commuting distance to the big city—which grew nearly 8% between 2020 and 2024, adding 69,000 people during those four years.2
Mooresville itself has also experienced steady population growth. The city grew 5.1% between 2020 to 2024,1 which underscores the region’s strong demand for well-located, high-quality multifamily housing options like Sentosa Lake Norman.
Strategic horizontal pre-development financing
DLP Capital provided a $3,000,000 first-lien mortgage loan to fund the project’s horizontal pre-development work.
The loan, originated in November 2025, features an initial 18-month term with two six-month extension options. This structure provides M Group Companies with the necessary runway to complete early-stage land development before transitioning into vertical construction.
At the same time, the loan was extended at a highly conservative loan-to-cost (LTC) ratio of 37.90% based on a total development cost of $4,200,000 and a lendable cost of $3,671,882. DLP Capita’s loan also features a loan-to-value (LTV) ratio of 25.00% against an estimated completion value of $12,000,000. Both figures are below DLP Capital’s portfolio-wide LTC and LTV averages—a testament to DLP Capital’s cautious approach to lending.
M Group Companies: driving value through experienced development
M Group Companies is a diversified real estate investment and development firm with a strong track record of delivering high-quality commercial real estate projects in growing U.S. markets, including office, retail, and hospitality, and apartment communities.
With a footprint in 12 states, the firm has successfully developed, capitalized, and managed millions of square feet of commercial and residential real estate.3 By prioritizing value for both investors and residents, M Group Companies aligns with DLP Capital’s mission to finance the building of Thriving Communities for America’s working families.
