Machine Investment Group Snaps Up Texas Multifamily Asset

January 20, 2026

Finance & Investment Austin Market Rate News More Southwest

The new owner plans to add a number of amenities to the community.

Machine Investment Group, in partnership with Alta Real Estate Partners, has acquired Rise 120, a 227-unit multifamily property located in Georgetown, Texas, a suburb of Austin. Machine did not respond to a query about purchase price in the off-market deal.

According to Yardi Matrix, Novak Cos. developed Rise 120, completing it in 2024. The community spans 3 buildings across 10 acres, which consist of one-, two- and a few three-bedroom units averaging 897 square feet. The mean rent is $1,455 a month, the same source shows.

Existing common-area amenities include a pool, fitness center, resident lounge, grill area and dog park. The property also includes 15,000 square feet of retail space. The new owners plan to add a golf simulator, sauna and cold plunge.

For Machine Investment Group, the deal represents an opportunity to acquire a high-quality, new construction multifamily asset at 30 percent below the developer’s basis, with such factors as capital markets dislocation and temporary oversupply in greater Austin driving the transaction.

Sluggish period for Austin multifamily

Greater Austin’s multifamily fundamentals had softened at the close of the third quarter of 2025, according to data from Yardi Matrix. The occupancy rate in stabilized properties edged down 10 basis points year-over-year to 92.8 percent. Average advertised asking rents inched down 0.2 percent on a trailing three-month basis through September to $1,542 a month.

Machine Managing Partner Eric Rosenthal also noted in a statement that Austin has seen overbuilding in the recent cycle, but the company believes that the distress is transitory.

More than that, the Austin-San Antonio metro is part of a forming megaregion, with the Interstate 35 as its hub corridor. Over the past five years through the second half of 2025, the area’s stock expanded by 15,388 multifamily units, notes Yardi Matrix.