Machine Investment Group Acquires 227-Unit Community in Austin Suburb

Machine Investment Group and Alta Real Estate Partners acquire the 227-unit Rise 120 in Georgetown at a 30% discount to replacement cost.

By: AXL Media

Published: Mar 13, 2026, 7:52 AM EDT

Source: https://www.multihousingnews.com/

Capitalizing on Austin’s "Transitory" Distress

Machine Investment Group has made a strategic entry into the Austin suburb of Georgetown with the acquisition of Rise 120. Partnering with Alta Real Estate Partners, the firm secured the asset in an off-market transaction. Machine Managing Partner Eric Rosenthal highlighted that the deal was driven by current market conditions—specifically, a temporary oversupply and capital markets dislocation—which allowed the joint venture to acquire the property significantly below its replacement cost. This "basis play" reflects a growing trend of institutional investors seeking high-quality, new construction at discounted valuations.

Asset Profile: Modern Living in Georgetown

Developed by Novak Cos. and completed in early 2024, Rise 120 is a premium residential community situated on a 10-acre site.

Residences: The 227 units are distributed across three buildings and feature one-, two-, and three-bedroom floorplans averaging 897 square feet.

Current Performance: Average rents are recorded at $1,455 per month, slightly below the wider Austin metro average of $1,542.