AUSTIN—Dallas-based Lantower Residential, a national multifamily owner and operator, announced that it has acquired The Lodge at Warner Ranch, a 358-unit garden-style community in Austin.
"This acquisition establishes our presence in the Austin market as we continue to grow in our home state of Texas," Philippe Lapointe, chief operating officer with Lantower Residential, told GlobeSt.com. "With Dell serving as the major employer in the area and the company's recent purchase of EMC, we strongly believe in the growth story of the Round Rock submarket."
The Lodge at Warner Ranch is a class A property built in 2001. It sits on approximately 19.2 acres of land and is comprised of one-, two- and three-bedroom apartment homes.
With the acquisition, Lantower Residential has acquired 2,166 apartment units since late 2014, in four major markets, and continues to purchase class A, multifamily communities in the Sunbelt markets.
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