Newmark Group announced on November 12, 2024, the sale of Brisa Townhomes, a 126-unit townhome community located at 4810 Brisa Way in Bee Cave, Texas. Newmark Multifamily Capital Markets Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the undisclosed seller in the sale to AvalonBay Communities.
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. The property spans nearly 17 acres and offers scenic views of the Hill Country.
This transaction presented investors with a rare opportunity to acquire a build-to-rent community in the highly desired Bee Cave submarket of West Austin. It reflects the increasing demand for highly amenitized luxury rental communities as the cost of single-family housing remains high.
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