AUSTIN, TX—New York-based Castle Lanterra Properties recentlyacquired the residential portion of The Triangle for $129 million.The class-A 529-unit rental community with retail and officecomponents is located at 4600 West Guadalupe St.
"The Triangle is an exceptional institutional-quality propertylocated in the epicenter of tremendous growth in one of the mostdynamic cities in the country, within a booming market that islikely to perform well over the long term," said Elie Rieder,Castle Lanterra CEO. "We are now planning a substantial investmentin upgrading the homes to take advantage of limited new supplydriving strong demand for class-A residences."
Built between 2006 and 2008, The Triangle is a six-buildingresidential complex with 111,000 square feet of local and nationalretailers as well as commercial space. The Triangle's centrallocation, equidistant from downtown and the Domain, provides accessto Austin's economic, education and technology hubs.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
