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AS SEEN IN THE WALL STREET JOURNAL: “WHAT’S THE DEAL”

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Real-estate company Castle Lanterra Properties added an upscale waterfront apartment complex in Bayonne, N.J., to its portfolio, betting that enhanced amenities and potential development of the surrounding area will bolster the property’s appeal.

Last week, the company closed on a $147.5 million deal to buy Alexan CityView, a 544-apartment community developed and completed by Dallas-based Trammell Crow Residential in 2010, said Elie Rieder, chief executive of Castle…