Lantower Residential Acquires Austin Apartments
- May 10, 2017
National multifamily owner and operator Lantower Residential has acquired NXNE (North by Northeast) Apartment Homes in the heart of the Tech Ridge district of Austin, Texas.
The 375-unit apartment community was completed in 2016. The one- and two-bedroom homes at NXNE feature luxury features and finishes that include granite countertops and baths, stainless steel appliance packages, kitchen islands and spa-like soaking tubs.
Residents can avail themselves of many common-area amenities, including a resort-inspired pool with pavilions and aqua lounge, state-of-the-art fitness center, recreational lake with walking trail, clubhouse with cafe bar and resident media lounge, roomy pet park and pet spa.
“The acquisition of NSNE Apartments enables Lantower Residential to expand its current Austin position, with a newly built Class A asset, in one of the strongest employment stories in Austin,” said Philippe Lapointe, COO, Lantower Residential. “The locale relative to tech employers, coupled with the modern design, makes NXNE an immensely accretive acquisition.”
Situated in North Austin near a pair of major highways, Mopac Expressway and SH-130 Tollway, NXNE enables residents to enjoy convenient motoring ease throughout the Austin MSA. The community is surrounded by the Tech Ridge district of northern Austin, home to Dell, Apple, IBM and Samsung, among other major tech employers.
The location also serves up an array of shopping, restaurants and eclectic entertainment destinations, including The Domain, Arboretum at Great Hills and Top Golf Austin.
Recreation-minded residents will also find abundant green space nearby. Parks and recreational opportunities include Walnut Creek Greenbelt, Walnut Creek Recreational Park, Capital Memorial Park, Katherine Fleischer Park and Wells Point Park.
Lantower Residential is a Dallas-based vertically-integrated real estate company and subsidiary of H & R Reit that focuses on the acquisition and management of multifamily communities in the United States.