Skilled Workforce Fuels Demand for Quality Housing

San Marin is a 220-unit apartment community constructed in 1998.

CORPUS CHRISTI, TX—Castle Lanterra Properties, which has established a strong presence in Texas’ capital city of Austin with three recent acquisitions totaling 1,300 units, has now extended its statewide presence with the acquisition of San Marin, a 220-unit apartment community. San Marin was constructed in 1998, located along South Staples Street.

“The community features resort-like ambiance, including an expansive swimming pool, clubhouse, fitness center and other key amenities,” said Elie Rieder, founder and CEO of Castle Lanterra Properties. “The property is well maintained and beautifully landscaped. The previous owner invested significant capital for exterior upgrades such as the replacement of roofs, a repainting of the property and landscaping improvements.  We believe there is an opportunity to significantly enhance the value of this asset by also renovating unit interiors and bringing them up to level that is commensurate with the quality of the exterior and also meets the standards of this growing rental population.”