Newmark announces the sale of Brisa Townhomes, a 126-unit townhome community located at 4810 Brisa Way in Bee Cave, Texas, just west of Austin. The community has been renamed Avalon Townhomes at Bee Cave.
Newmark Multifamily Capital Markets Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the undisclosed seller in the sale to the buyer, Virginia-based AvalonBay Communities.
“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.”
Constructed in 2022, Brisa Townhomes (Avalon Townhomes at Bee Cave) 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.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of over $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
