The Charlotte-Mecklenburg Police Department said at a news conference that 32-year-old Dominick O'Neill Daise was arrested without incident two weeks ahead of the 11th anniversary of the killings, adding they "firmly believe" he did not act alone.
"This was a horrific crime and something that really, really shook our town," Maj. Cam Selvey said at a news conference.
The bodies of Timothy Stone, 33, William Royster, 46, Andrew Babyak, 43, and 31-year-old Cherilyn Crawford were discovered on March 24, 2008, inside an apartment in the top floor of an apartment building in south Charlotte, FOX46 reported.
All four bodies were discovered riddled with bullets, and took days to identify, according to the Charlotte Observer.
Former CMPD Detective Miguel Santiago told WBTV that there was evidence of "a lot of gunshots" at the apartment and that all four victims had something in common.
"We believe these people were involved in a lifestyle that put them in jeopardy," he told the television station.
Investigators did not reveal what led to a break in the case or what motivated the killings because it’s still an "active investigation."
"There's other people out there that we are very interested in," Selvey said. "We believe there are individuals out there who know these people that we are interested in and they may have some information."
Crawford's mother, Lu Proudhomme, described her daughter at the news conference as a "vivacious" cosmetologist and model, adding that police never stopped looking for her daughter's killer.
"This is obviously a day we're grateful for and that we've waited 11 years for," Proudhomme told FOX 46. "Grateful is the best word I can come up with right now."
Proudhomme said she barely left her home for more than 8 years after the killings and said she works with other families who are also victims of violence.
"It's been very, very difficult," she said. "It's something that doesn't go away, it's going to be a lifelong journey living without Cherilyn."
Mecklenburg County Jail records showed that besides being charged with four counts of murder, Daise also is facing two charges of possession of marijuana.
Officials are still offering a $5,000 reward for information that leads to an arrest in connection with the killings. Anyone with further information is asked to call Charlotte Crime Stoppers at 704-334-1600.