On March 13, 2026, a partnership between Argosy Real Estate Partners V, L.P. and Bowtruss Real Estate Development exited its investment in a 17-acre site in Pflugerville, TX, a suburb of Austin, TX. The asset was sold to a California-based for-sale homebuilder.

The original business plan included the development of a 186-unit build-to-rent community consisting of detached homes and townhome-style units. As the partnership advanced the project toward “shovel-ready” status, market conditions shifted. As a result, Argosy elected not to pursue vertical development and instead repositioned the strategy toward a land sale to a for-sale homebuilder. The partnership originally acquired the land at a substantial discount to market value, which enabled a profitable exit despite broader market softening during the hold period.