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AUSTIN, TEXAS — Castle Lanterra Properties has acquired Stonegate Apartments, a 452-unit, class A property in Austin. An institutional ownership group was the seller. The property was built in 2003 and is located just off I-35. Stonegate consists of 24 two- and three-story buildings in a variety of floor plans. Amenities include a clubhouse with a leasing office, business center, fitness center and recreation room. The property also features two swimming pools and barbeque grilling stations. Planned unit upgrades will include new lighting and plumbing fixtures, stainless steel appliances and wood vinyl plank flooring. Castle Lanterra Properties acquires, improves, repositions and manages a portfolio of multifamily properties.