This is the latest in a series of home purchases by Hertel.
It’s the third time in two years the company has bought homes from a company and is the largest such purchase of a home in the country.
It also comes on the heels of Hertel purchasing an $8.4 million home in North Carolina and buying a $1.9 million home.
The company bought the two-story, three-bedroom home in north Charlotte from Michael Stegeman, a longtime partner in the company.
Stegeman said in a statement that he and his wife, who live in Florida, bought the house after seeing the value.
They also purchased a 1,400-square-foot home in suburban Washington, D.C., that was on the market for less than half its asking price.
He said the couple “can’t wait to see how this house fits into our lives and the lives of our family.”
The house is in a relatively small subdivision near downtown Charlotte.
It has a garage, a pool, a gym and a pool table, among other amenities.
Stebeman, who has lived in the house for six years, said he’s thrilled to have the opportunity to work at Hertel, and he has no intention of moving.
“The house will be a tremendous asset to my family and we are delighted that the Herbalife family has made the decision to move forward with our home purchase,” Stegman said in the statement.
The Herbalifes moved into the home in June 2017, and Stegmann said he and the wife, whose children are also in the family, are excited about the opportunity.
He noted that the family has a two-year-old daughter, and said the house will accommodate them while the daughter plays outside.
“We are so grateful for the opportunity, and we will be putting the finishing touches on this beautiful home,” Stebman said.
“I am absolutely delighted that Herbalift Home has chosen us to purchase this beautiful and historic home,” Herbalit home sales executive director Jim Schuessler said in an email.
“We will be very grateful for all of the support from our Herbalive home team and the community.”