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11/18/24
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AvalonBay Communities closed on a notable Texas res buy, acquiring Brisa Townhomes, a 126-unit townhome community located at 4810 Brisa Way in Bee Cave, just west of Austin. The community has been renamed Avalon Townhomes at Bee Cave.
Constructed in 2022, Brisa Townhomes is a low-density, two-story community featuring three- and four-bedroom floorplans, each with direct access two-car garages. Spanning nearly 17 acres, the property boasts scenic views of the Hill Country and Falconhead Golf Club. Residents enjoy a host of premium amenities, including a pool, an outdoor kitchen with grills, a private conference room, a fully equipped fitness center and walking trails.
Brisa Townhomes is within the top-rated Lake Travis School District and is surrounded by affluent single-family residences, prestigious schools and multiple country clubs and golf courses. The property is also conveniently located near upscale retail and upcoming mixed-use developments, including Hill Country Galleria, Village at Spanish Oaks and the Future Brodie Oaks District.
Newmark Multifamily Capital Markets Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the undisclosed seller in the sale. The price was not given out.
“Brisa Townhomes presented investors with a rare opportunity to acquire a build-to-rent community in the highly desired Bee Cave submarket of West Austin,” said Jones. “As the cost of single-family housing remains high, more renters are seeking highly amenitized luxury rental communities, particularly in the Bee Cave/Lake Travis area.”
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