AUSTIN, TX – Machine Investment Group (MIG), a real estate investment platform focused on opportunistic, distressed, and special situations across the United States, announced the off-market acquisition of Rise 120, a newly built property consisting of 227 multifamily units and 15,000 square feet of retail located in Georgetown, TX, a highly desirable and quick growing submarket of the Austin MSA.
Rise 120 offers recently completed (Q1 2024) rental apartments within a submarket dense with high-income employment drivers. The property is situated 2 minutes from I-35, providing accessibility to Downtown Austin, Georgetown and Round Rock, and major North Austin employment drivers including Dell, Apple, and the Domain. Georgetown ranked as the fastest growing city in the nation by the U.S. Census Bureau from 2021 through 2023, outpacing the broader Austin MSA for more than 10 years. Austin, as a whole, has demonstrated a track record of attracting a highly educated and affluent population, exceeding every other major U.S. city in growth over the last decade.
The buy of Rise 120 represents an opportunity to buy a high-quality, new construction multifamily asset at 30% below the developer’s basis, driven by a period of capital markets dislocation, as well as a temporary oversupply. MIG plans to accelerate lease-up through a further investment in Rise 120 that will differentiate the property with additional amenities, slated to include a golf simulator, sauna, and cold plunge. Existing amenities include a pool, fitness center, resident lounge, grill area, and dog park. Rise 120 is the only building within its competitive set to contain retail space, and MIG plans to support retail leaseup with tenant improvement allowances. Local market dynamics are expected to drive continued residential rent growth over MIG’s investment period.
“Austin recognized significant overbuilding in the recent commercial cycle, but we believe the multifamily distress is transitory in specific submarkets as the MSA offers some of the strongest medium-to-long term fundamentals in the country,” said Eric Rosenthal, Co-Founder and Managing Partner of Machine Investment Group.
MIG completed the acquisition in partnership with Alta Real Estate Partners, a vertically integrated multifamily investment firm. Walker & Dunlop represented the seller in the transaction.

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AUSTIN, TX – Virga Capital closed on its first multifamily acquisition in the Austin metropolitan area with the buy of The Beacon at Pfluger Farm, a 258-unit Class A apartment community located in Pflugerville, Texas.
Built in 2022, The Beacon at Pfluger Farm is a three-tale, garden-style community offering a balanced mix of one-, two-, and three-bedroom residences with an average unit size of approximately 890 square feet. The property features contemporary interior finishes and a market-leading amenity package that includes a clubhouse, resort-style swimming pool, two fitness facilities, coworking and resident lounge spaces, private garages, and outdoor gathering areas.
The Beacon at Pfluger Farm is located within a 10-minute walk of the 1.5 million-square-foot Stone Hill Town Center, providing residents with immediate access to a wide range of restaurants, retailers, and entertainment options. Situated in the high-growth Pflugerville submarket, the property benefits from limited near-term supply, proximity to technology and advanced manufacturing employers, and strong regional connectivity via State Highway 45 and State Highway 130.
“We bought The Beacon as Austin’s multifamily supply pipeline is falling off a cliff following years of elevated deliveries,” said Robert Lateiner, Founder and CEO of Virga Capital. “That dynamic has made a generational opportunity to invest in one of the nation’s strongest long-term growth markets at a cyclical low. With 2025 absorption exceeding 20,000 units—roughly double the historic average—this acquisition positions Virga as a front-runner ahead of the return of large-scale institutional capital. The window to invest in Austin multifamily is open, but it is closing quickly.”

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CHARLOTTE, NC – The Republic Family of Companies, through its Charlotte subsidiary Republic Development Group, and Esen announced a joint venture to develop a new mixed-use community at 700 and 800 Central Avenue. Located just east of Uptown in the historic Plaza Midwood neighborhood, the project will feature approximately 370 multifamily units and 3,000 square feet of ground-floor retail space. Construction is plotted to start in mid-2026.
The development represents a significant investment in one of Charlotte s most culturally rich corridors. Plaza Midwood, which originated in the early 1900s as the city s first “streetcar suburb,” owes its unique character to the 1903 streetcar line that ran down Central Avenue. This new project, located at Central Ave and Piedmont St, is designed to honor this history while meeting the modern demand for walkable, amenity-rich living.
“We are thrilled to bring a project of this caliber to Plaza Midwood, a neighborhood that offers historic charm within reach of Charlotte s economic center,” said Adam McMichael, Managing Director and Charlotte Lead for Republic. ” Charlotte s demand for well-located, thoughtfully crafted housing continues to grow, and this project answers that need. For us, this is about more than building housing; it s about welcoming new residents to one of the Southeast s most desirable neighborhoods.”
The partnership brings together two powerful real estate entities. Republic, led by Chairman Richard Kramer, encompasses a diverse portfolio of businesses including Republic Properties Corporation and Republic Urban Properties. Esen, a recently established venture formed by seasoned developers, focuses on urban developments grounded in purpose-driven design.
“This partnership between Republic and Esen reflects a shared belief in Charlotte s future and a shared vision for this site,” said Dave Boillot, Chief Investment Officer of Esen. “We are incredibly excited to enter the Charlotte market alongside a partner with Republic s track record. We believe our Central Avenue project will set a new standard for living in Plaza Midwood.”

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