Castle Lanterra Buys The Triangle Apartments in Downtown Austin for $129M
AUSTIN, TEXAS — New York-based investment firm Castle Lanterra Properties has acquired The Triangle, a 529-unit apartment community in downtown Austin for $129 million, or roughly $244,000 per unit. The property, which was built between 2006 and 2008, is part of a mixed-use development that offers retail and restaurant space and proximity to the city’s education and technology hubs. Units come in studio, loft, one-, two- and three-bedroom formats and are equipped with stainless steel appliances, granite or quartz countertops, individual washers and dryers and private balconies. Residential amenities include three pools, a fitness center, communal kitchen, conference center, coffee bar, dog park and fire pits. The seller was not disclosed.