Waterton Associates, a U.S. real estate investor and operator based out of Chicago, acquired Regatta at Lake Lynn at 3000-3013 Inland Trail in Raleigh, NC from McDowell Properties and Wells Fargo Bank for $35.75 million, or approximately $91,000 per unit. Regatta at Lake Lynn is a 392-unit garden-style community located approximately 10 miles northwest of downtown Raleigh on the southeast corner of Lake Lynn. Completed in 1984, the community consists of one- and two-bedroom floor plans and includes such community amenities as a fitness center, two outdoor pools, a recently completed playground and a dog park.