Edgewater, Austin, TX October 16, 2018
Dallas-based Lantower Residential announces the acquisition of Edgewater, a Class A+ multifamily development recently constructed in north Austin, Texas. The 328-unit community is located in the highly desirable Tech Ridge submarket, near the campuses of Dell, Apple, IBM, and Samsung.
The community, located on a 12.71-acre site, offers best-in-class amenities including two large, resort-style pools, over-sized jacuzzi, dog spa, recreational pond with walking trails, garages, and an expansive fitness center with separate yoga room. Unit interiors feature premium G.E. stainless steel appliances, designer kitchen cabinets and fixtures, granite countertops, USB outlets, and full-sized washer and dryers. Edgewater's exterior draws inspiration from Floridian architecture giving it a unique feel in north Austin.
"The closing of Edgewater, which marks our fourth acquisition in Austin, is another example of our belief in the Austin investment market as we expect it will continue to be a leading U.S. market in long-term economic growth. Excellent proximity to the major tech employers and great visibility to I-35 make Edgewater an ideal community to capitalize on the growth trends of north Austin," said Lantower Residential COO, Philippe Lapointe, in prepared remarks.
Upon acquisition of Edgewater, Lantower Residential’s portfolio consists of 20 multifamily properties with 6,588 residential units.