Company buys South Cobb apartment complex, plans energy upgrades

A New York-based real estate firm has purchased a 220-unit apartment complex in South Cobb.

Castle Lanterra Properties has purchased 300 Riverside apartments at 300 Riverside Parkway in Austell. The development was built in 1987 and was renovated in 2017. It has one- two-, and three-bedroom units, two tennis courts, a fitness center and a clubhouse.

Castle Lanterra said it plans to address “all deferred maintenance” issues and make water- and energy-related upgrades that would improve sustainability and reduce costs. The Riverside complex is about a half-mile from Premier Apartments, which Castle Lanterra said it acquired earlier this year.