Press Releases

Lantower Residential introduces premier living, in the heart of Austin’s Tech Ridge district, with the acquisition of NXNE Apartment homes

May 30, 2017

Lantower Residential introduces premier living, in the heart of Austin’s Tech Ridge district, with the acquisition of NXNE Apartment homes

Dallas, Texas, April 10, 2017 – Today Dallas-based Lantower Residential, a national multifamily owner and operator, is happy to announce its acquisition of NXNE apartment homes (‘North by Northeast’); a 375-unit contemporary style community in the Tech Ridge submarket of Austin, Texas.

Completed in 2016, NXNE represents modern elegance combined with sophisticated urban design. NXNE’s one and two-bedroom apartment homes are filled with a variety of luxuries including: granite kitchen countertops and baths, stainless steel appliance packages, kitchen islands, and spa-style soaking tubs. In addition, NXNE offers desirable community amenities such as a resort-inspired pool with pavilions and aqua lounge, a state-of-the art fitness center, recreational lake with walking trail, clubhouse with café bar and resident media lounge, an expansive pet park, and indoor pet spa.

This community is located in North Austin near two major highways, Mopac Expressway and SH-130 Tollway, allowing for convenient roadway access and an easy commute across the Austin MSA. Specifically, NXNE apartment homes is surrounded by the Tech Ridge district of Northern Austin which is comprised of major tech employers: Dell, Apple, IBM, and Samsung. This prime location also holds an assortment of retail, a diverse dining scene, and bustling entertainment locations such as The Domain, Arboretum at Great Hills, and Top Golf Austin.

NXNE’s principal location to major employers coupled with its contemporary design makes its acquisition a triumph for Lantower Residential.  “The acquisition of NXNE 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. The locale relative to tech employers, coupled with the modern design, makes NXNE an immensely accretive acquisition,” said Lantower Residential Chief Operating Officer, Philippe Lapointe.

 

About Lantower Residential

Lantower Residential is a vertically integrated real estate company and subsidiary of H&R Reit specializing in the acquisition and management of multifamily communities in the U.S. We aim to create real value for our shareholders through a disciplined acquisition and management strategy that facilitates ideal multifamily investments in growth markets. We focus on submarkets where we have vast institutional knowledge and apply our proven track record to the acquisition, financing, management, and positioning of each individual deal.