Institutional Property Advisors Brokers Sale of 512-Bed Student Housing Asset in San Marcos Texas
August 19, 2024
SAN MARCOS, Texas, Aug. 19, 2024 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Uptown Square, a 316-unit, 512-bed, purpose-built student housing asset located adjacent to Texas State University (TXST) in San Marcos, Texas.
“One of the top 40 largest universities in the country, TXST San Marcos enrolled nearly 39,000 students in fall 2023, yet currently offers on-campus beds to only 17.6% of its students, driving more than 24,800 students to seek off-campus housing,” said Peter Katz, IPA executive director.
“Completed in 2015, Uptown Square has consistently been a strong performer and was 98% occupied for the 2023-2024 school year.” Katz represented the seller, Oak Brook, Illinois-based Inland Private Capital. The property was purchased by Greystar for an undisclosed price. Tim Speck, senior vice president and division manager is Marcus & Millichap’s broker of record in Texas.
Located less than one block from campus, Uptown Square is close to the TXST shuttle route and UFCU Stadium. There are three shopping centers within a short walk and the Spring Lake Natural Area, Wonder World Cave & Adventure Park, and San Marcos Aquatic Resources Center are a short distance away.
Uptown Square features a mix of studio, one- and two-bedroom floor plans with 100% bed-bath parity, fully equipped kitchens with granite countertops and stainless-steel appliances, in-unit washers and dryers, outdoor balconies, and high- speed Wi-Fi. Community amenities include a spacious clubhouse, computer lab, outdoor areas with flat-screen TVs and grilling stations, a resort-style pool, a sand volleyball court, pet park, and a fitness center.
“One of the top 40 largest universities in the country, TXST San Marcos enrolled nearly 39,000 students in fall 2023, yet currently offers on-campus beds to only 17.6% of its students, driving more than 24,800 students to seek off-campus housing,” said Peter Katz, IPA executive director.
“Completed in 2015, Uptown Square has consistently been a strong performer and was 98% occupied for the 2023-2024 school year.” Katz represented the seller, Oak Brook, Illinois-based Inland Private Capital. The property was purchased by Greystar for an undisclosed price. Tim Speck, senior vice president and division manager is Marcus & Millichap’s broker of record in Texas.
Located less than one block from campus, Uptown Square is close to the TXST shuttle route and UFCU Stadium. There are three shopping centers within a short walk and the Spring Lake Natural Area, Wonder World Cave & Adventure Park, and San Marcos Aquatic Resources Center are a short distance away.
Uptown Square features a mix of studio, one- and two-bedroom floor plans with 100% bed-bath parity, fully equipped kitchens with granite countertops and stainless-steel appliances, in-unit washers and dryers, outdoor balconies, and high- speed Wi-Fi. Community amenities include a spacious clubhouse, computer lab, outdoor areas with flat-screen TVs and grilling stations, a resort-style pool, a sand volleyball court, pet park, and a fitness center.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.