Virga Capital has acquired The Beacon at Pfluger Farm, a 258-unit Class A apartment community in Pflugerville, marking the firm’s first multifamily purchase in the Austin metropolitan area.
Built in 2022, the three-story, garden-style property offers one-, two-, and three-bedroom floor plans with an average unit size of about 890 square feet. The community features contemporary interior finishes and an amenity package that includes a clubhouse, a resort-style pool, two fitness facilities, coworking and resident lounge spaces, private garages, and outdoor gathering areas.
The property sits within a roughly 10-minute walk of Stone Hill Town Center, a 1.5 million-square-foot retail and entertainment destination. Virga cited the high-growth characteristics of the Pflugerville submarket, including access to technology and advanced manufacturing employers, limited near-term apartment supply, and regional connectivity via State Highway 45 and State Highway 130.
Virga Capital Founder and CEO Robert Lateiner said the firm is targeting Austin-area multifamily as new supply begins to taper after several years of elevated deliveries. He described current conditions as an attractive entry point for long-term investors in a market he characterized as one of the country’s strongest growth regions.
Lateiner pointed to 2025 absorption exceeding 20,000 units—about double the historic average—as evidence of improving fundamentals and a tightening supply-demand balance. He said the acquisition is intended to position Virga ahead of what he expects to be a return of large-scale institutional capital to the market.
Valiant Residential, a Texas-based multifamily management company, will manage the community.
Virga Capital is based in Bozeman, Montana, and focuses on acquiring, developing, and operating real estate across select U.S. markets, with investment activity spanning multifamily and hospitality and an emphasis on long-term value creation.
KEY QUOTES:
“We acquired The Beacon as Austin’s multifamily supply pipeline is falling off a cliff following years of elevated deliveries. That dynamic has created a generational opportunity to invest in one of the nation’s strongest long-term growth markets at a cyclical low. With 2025 absorption exceeding 20,000 units—roughly double the historic average—this acquisition positions Virga as a front-runner ahead of the return of large-scale institutional capital. The window to invest in Austin multifamily is open, but it is closing quickly.”
Robert Lateiner, Founder and CEO of Virga Capital
