Virga Picks Up Austin Community
This marks the firm’s first acquisition in the metro.
Virga Capital has purchased The Beacon at Pfluger Farm, a 258-unit multifamily property in Pflugerville, Texas, an Austin submarket. This marks the company’s first acquisition in the metro.
Texas-based Valiant Residential will manage the community.
The buyer took out an acquisition loan from Pacific Coast Capital Partners, according to Yardi Matrix information. TerraCap Management sold the asset.
Located on 11 acres at 1300 Rauscher Road, The Beacon at Pfluger Farm is within 21 miles of downtown Austin, while Austin-Bergstrom International Airport is 25 miles southwest. Additionally, the community is close to Highway 130 and within walking distance of the 1.5 million-square-foot Stone Hill Town Center.
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Completed in 2022, the property comprises 11 three-story residential buildings. The unit mix comprises one-, two- and three-bedroom floorplans ranging from 600 to 1,351 square feet. Apartments also have private balconies or patios.
Common-area amenities include a fitness center, swimming pool with sunning deck and lounge seating, clubhouse and business center. The garden-style community also has a coworking club, EV charging stations and a dog park.
Austin multifamily sales ramp up
Austin’s multifamily transaction volume clocked in at $1.9 billion last year, from the 49 assets—12,088 apartments—that changed hands, Yardi Matrix data shows. This figure was considerably above the $1.1 billion registered in 2024, when 52 properties—11,885 units—were sold.
The average price per unit also rose 33 percent year-over-year. In 2024, apartments traded for $173,964 on average, reaching $231,544 in 2025.
In one of the latest deals, Continental Realty Group purchased Wildcreek Apartments, a 232-unit community 4 miles from downtown Austin. The firm acquired the asset through its subsidiary Continental Realty Assets Ltd.
