Texas

GEORGETOWN, TEXAS — Machine Investment Group (MIG), a New York City-based investment firm, has acquired Rise 120, a 227-unit community in Georgetown, 26 miles north of Austin, Texas. The property, which opened in 2024, also includes 15,000 square feet of retail. MIG partnered with San Diego-based Alta Real Estate Partners on the deal. Walker & Dunlop represented the undisclosed seller. MIG plans to add amenities, such as a golf simulator, sauna and cold plunge. Existing amenities include a pool, fitness center, resident lounge, a grill area and a dog park.

BOERNE, TEXAS — Brixton Capital, based out of Solana Beach, California, has sold Oxbow Hill Country in Boerne, a city 31 miles northwest of San Antonio. The buyer was Irvine, California-based Steadfast Cos. The 172-unit property was built in 2003 and features 132,736 rentable square feet across 6.8 acres. The garden-style community includes nine buildings with a unit mix ranging from one- to three-bedroom floor plans. The property was 92 percent occupied at the time of the sale. More than 80 percent of units remain in original condition since construction. …

TEXAS CITY, TEXAS — Eastham Capital has sold two communities in Texas City, Veranda Apartments and Stone Ridge Apartments, to an undisclosed buyer for undisclosed sums. Texas City is about 41 miles southeast of Houston. Veranda Apartments and Stone Ridge Apartments were acquired in 2018 by Eastham Capital as a joint venture with Mosaic Residential. The investments were identified as value-add opportunities. During the hold period, the team executed a capital improvement and operational enhancement program that included interior unit renovations, exterior upgrades and amenity enhancements paired with improved property …

PFLUGERVILLE, TEXAS — Virga Capital, a development and investment firm based in Bozeman, Montana, has acquired The Beacon at Pfluger Farm in the Austin suburb of Pflugerville, about 22 miles northeast of the city. The seller was not disclosed. The three-story garden-style community was built in 2022 and includes one-, two- and three-bedroom units complemented by amenities that include a resort-style pool, two fitness centers, a clubhouse, coworking and lounge spaces, private garages and outdoor gathering areas. Dallas-based Valiant Residential has been selected to manage the property.

FRISCO, TEXAS — Paskin Group has acquired Stonebrook Village, a 216-unit formerly affordable-housing property in Frisco, in a 1031 exchange. Paskin will rebrand the asset to The Ranch at Frisco and is planning to renovate units to drive rent growth following the 2024 expiration of a land-use agreement that required the property be 100 percent affordable. Strata Capital was the seller. IPA’s Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware and William Hubbard arranged the transaction. Stonebrook Village was developed in 1994 on approximately 14 acres and offers amenities such …