Castle Lanterra enters San Antonio multifamily market

​​​​​​​​SAN ANTONIO – Castle​​ Lanterra Properties has acquired the Agave Apartments, a $78 million upscale apartment complex, from a partnership between Greystar and the Carlyle Group.

The 349-unit ​complex at 633 S. St. Mary’s St. suffered extensive damage in a three-alarm fire in December. The original sale agreement was derailed by the fire.

South Carolina-based Greystar will continue making repairs to the property as part of the new sales agreement.

The acquisition is New York-based Castle Lanterra’s first foray into the local market.

ARA Newmark brokered the sale.