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AUSTIN — ARA has arranged the sale of the 178-unit Lantern Hill, a 1960s vintage apartment complex located at 1550/1501 Reagan Hill Dr. in Austin. The garden-style property is currently 95 percent occupied. Andrew Shih of ARA's Austin office represented the seller, a California-based investor in a 1031 exchange, in the transaction. San Diego, Calif.-based Quez Capital purchased the property, which is their second apartment acquisition in Austin. Quez is planning on replacing the roof, landscaping the property and installing a new playground. Austin-based Green Bank provided acquisition financing for the transaction.