Austin-Area Apartment Community Bought by Brixton

Brixton Capital has purchased the Royalton at Sunfield, a 300-unit multifamily project in Buda, just south of Austin. The price was not disclosed.

The year-old project consists of 14 three-story buildings that make up 276,000 square feet under roof. Despite the newness of the community, Brixton plans to change its name to Ryze at Sunfield and is planning some minor upgrades, such as installing washer/dryer units in each apartment and a technology upgrade such as keyless entry, programmable remote thermostats and USB ports. Brixton’s Mark Selman gives his reasons for buying the property, “Our strategy reflects demographic trends showing a higher percentage of the population choosing to rent rather than purchase homes, in much greater numbers than previous generations.:

The property seller was Dallas-based SWBC