The Lodge at Warner Ranch, Austin, TX November 18, 2015
Lantower Residential Enters the Austin/Round Rock Market with the Purchase of The Lodge at Warner Ranch
Dallas, Texas, November 18, 2015 – Dallas based Lantower Residential, a national multifamily owner and operator, announced today that it has acquired The Lodge at Warner Ranch, a 358-unit garden-style community in Austin, Texas.
The Lodge at Warner Ranch is a Class A property built in 2001 and located in Austin, Texas. The property sits on approximately 19.2 acres of land and is comprised of well-appointed one, two, and three-bedroom apartment homes. The demographic in the area consists primarily of professionals in the Technology and Engineering industries, and major employers nearby are Dell, Inc., Farmers Insurance, and Sears. The Lodge at Warner Ranch is located at the east corner intersection of IH-35 and SH-45 and offers convenient access to both the Mopac Expressway and the SH-130 Tollway.
“The property’s proximity to Dell, Inc. world headquarters coupled with below market in-place rents and the assumption of attractive long-term financing made it a very compelling investment” said Philippe Lapointe, Chief Operating Officer with Lantower Residential. “We look forward to adding Lodge at Warner Ranch to our Class A high-growth multifamily portfolio.”
With the acquisition of The Lodge at Warner Ranch, 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. Lantower Residential is a vertically integrated real estate company specializing in the acquisition, ownership, and asset management of multifamily communities in the U.S.