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Dinerstein Sells Austin Apartments to Castle Lanterra
JLL Capital Markets arranged the sale and financing of the Infinity Residences at The Triangle, an apartment community consisting of 529 units in North Central Austin. Dinerstein Companies was the seller; the buyer was Castle Lanterra Properties. Terms weren’t disclosed.
Senior managing director Sean Sorrell and director Ryan McBride of JLL’s capital market team arranged the sale for Dinerstein. Managing director Robert Wooten arranged a 10-year, floating-rate acquisition loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo lender.
In 2017, HFF, now part of JLL, sold the property to Dinerstein. It included 80,000 square feet of retail below the apartments, with a ground lease on the property.
Between 2006 and 2008, a three-phase project was conducted that increased the retail square footage to 110,000. The retail space is owned separately and not part of this sale.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
