Korman Communities, in partnership with Verde Capital, recently completed the purchase of its first property in Austin. The new 226-unit class-A property, AVE Austin, is situated between downtown Austin and The Domain.

“This acquisition represents the first of what we anticipate will be many new ventures in this region,” says Bradley Korman, co-CEO of the Philadelphia-area-based Korman Communities. “We continue to focus on markets that best reflect where people want to live and work, purchasing and developing state-of-the-art residential properties.”

The investment in AVE Austin aligns with Verde Capital’s continued pursuit of opportunities in high-growth urban and suburban markets.

“With its proximity to major educational institutions, medical systems and technology jobs, this location offers the sustainable demand drivers that will make AVE Austin a sought-after property for decades to come,” says Jake Reiter, president of Verde Capital.