Lantower Residential Acquires Austin Apartments
- Oct 01, 2018
Lantower Residential has acquired a 328-unit apartment community called Edgewater in Austin, Texas from Ledcor Group of Companies. The recently constructed development is situated 13 miles north of Austin in the Tech Ridge submarket, near the campuses of Dell, Apple, IBM and Samsung.
Located on a 12.7-acre site, the exterior design of Edgewater was inspired by Floridian architecture. The community offers a range of amenities to residents including:
- two swimming pools
- a Jacuzzi
- a dog spa
- a recreational pond
- walking trails
- a fitness center
- parking garages
“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,” said Lantower Residential COO Philippe Lapointe, in prepared remarks. “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.”
Austin has experienced a surge in multifamily construction in recent years as tech companies have opened outposts in the Texas capital, drawing new residents and leading to a demand for housing.
Images courtesy of Lantower Residential