Lantower Residential acquires North Carolina multifamily development

Lantower Residential has acquired Lantower Weston Corners, a multifamily development based in Cary, North Carolina. No financial terms were disclosed.

PRESS RELEASE

Dallas-based Lantower Residential announces the acquisition of Lantower Weston Corners, a new, Class A+ mid-rise multifamily development located in the desirable Cary submarket of Raleigh, North Carolina.

Residents enjoy unmatched, state-of-the-art amenities including a pool with sundeck and outdoor kitchen, fitness center with separate yoga room, dog spa, sky terrace, bike repair center, clubroom with kitchen and game room, 24-hour package lockers, car wash station, structured parking, and direct access to the Weston/Cary greenway system. Apartment interiors feature 10-foot ceilings in every unit, premium G.E. stainless steel appliances, designer kitchen cabinets and fixtures, white quartz countertops, USB outlets, full-sized washer/dryers, and hardwood-style flooring in all living areas.

The property is conveniently located within five minutes of two of Raleigh’s most prized employers: SAS Institute HQ (largest private software company in the world employing 6,000) and MetLife’s Global Technology Campus (2,000 jobs). Perimeter Park, home to over 15,000 white-collar jobs, and the acclaimed Research Triangle Park (50,000 jobs) are within a short 10-minute commute. Average household income within three miles of well over $100,000 underscores the affluence customary in the Cary submarket of Raleigh.

“Raleigh’s highly-educated employment base, strengthened by three respected universities, facilitate its strong job growth and define it as a leading U.S. market for investment prospects and major corporate relocations. Lantower Weston Corner’s institutional quality and location near high profile white-collar employers characterizes our thesis and fulfills our strategy to expand our North Carolina portfolio,” said Lantower COO, Philippe Lapointe, in prepared remarks.

Upon acquisition of Lantower Weston Corners, Lantower Residential’s portfolio consists of 21 multifamily properties with 6,896 residential units.

Mid-rise community located across the street from MetLife’s Global Technology Campus near Lake Crabtree.

Modern gym with separate spin room.

Spacious, open floor plans include 10-foot ceilings, premium stainless-steel appliances, and quartz countertops.

Expansive 2-story clubhouse with pool table, conference room, and Wi-fi lounge.

4 & 5-story elevator-serviced apartments.

About Us
Lantower Residential is a vertically integrated real estate company and subsidiary of H&R REIT specializing in the acquisition, ownership, 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 by seeking financially sound multifamily investments in growth markets. We focus on those submarkets where we have vast institutional knowledge and apply our proven knowledge to the acquisition, financing, renovation, management, and positioning of each deal.