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Lantower Residential buys Durham, NC, apartments for $76M

Dallas-based real estate manager Lantower Residential paid roughly $76.3 million to buy the 305-unit midrise BullHouse apartment building in downtown Durham, N.C., the Triangle Business Journal reported, citing Lantower COO Philippe Lapoint.

The 3.8-acre BullHouse complex on Pettigrew Street was developed by a partnership between Woodfield Investments and Carlyle Group LP, and is part of the 12.1-acre Durham Gateway Center project that is being developed on the former car dealership site owned by Hendrick Automotive, the report added.

BullHouse will become Lantower's second property in the Triangle area, where it owns the 322-unit Realm Patterson Place in south Durham.