Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Brandon Buell
Senior Managing Director – Student Housing
346.444.8982 | brandon.buell@berkadia.com
Kevin Larimer
Senior Managing Director – Student Housing
248.341.3305 | kevin.larimer@berkadia.com
BERKADIA STUDENT HOUSING TEAM
CONTACT Info
28411 Northwestern Highway, STE 300
Southfield, MI 48034
Phone: 248.646.7701
Detroit Office
2229 San Felipe Street, Ste 1600
Houston, TX 77019
Phone: 713.974.1300
Houston Office
125 South Wacker Drive
Suite 400
Chicago, IL 60606
Phone: 312.845.8500
Chicago Office
Steve Skok
Managing Director
312.845.5164 | steve.skok@berkadia.com
Mortgage Bankers
Aaron Moll
Senior Director
248.208.0529 | aaron.moll@berkadia.com
Peter Benedetto
Senior Managing Director
248.208.3462 | peter.benedetto@berkadia.com
PHOTO GALLERY
LOCATION
APARTMENT Amenities
Pets Allowed- No Weight or Breed Restriction
Business Center with Printer
Located on the Texas State Shuttle
Starbucks Coffee Bar
Outdoor Grilling Station
Large Dog Park
High Speed Internet
Two-Tiered Tanning Deck
Oasis Style Pool
Leap Guarantor Options
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Granite Countertops
Built in Microwaves with Black Appliances
Cherry Wood Modern Cabinetry
Washer & Dryer in Every Unit
Wood Style Flooring
Private Individually Keyed Entry to Bedrooms
Private Patios or Balconies *in select units
High Speed Internet
Fully Furnished Interiors
Kitchen Backsplash *In select units
Huge Walk-In Closets
Rich Color Tone Accent Wall
Desk/Study Area in Each Unit
Roommate Matching Available
Ceiling Fans
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Community Amenities
PROPERTY INFORMATION
THE OPPORTUNITY
San Marcos is one of the fastest growing cities in Texas, bolstered by the dynamic Texas State University (44,000 students and faculty) and employment hubs at Amazon (2,200 jobs) and the Central Texas Medical Center (1,270 jobs). The population increased by 1.9% in the past 12 months and continues to attract new residents based on its ideal location on the I-35 corridor equidistant to San Antonio and Austin.
Elevation on Post is centrally located, just over half a mile from the Texas State University campus. The property is serviced by the convenient Bobcat Shuttle that provides easy access to the commuter-friendly university. With no additional planned student developments in the market, this property is perfectly situated to appeal to the growing student population.
Texas State is growing exponentially with record-setting freshman enrollment in Fall 2022, increasing 14% over the prior year. The university is investing heavily in campus development as well, with over $500 million in current and future investment projects in various stages throughout campus including a STEM Classroom Building and new Music Building funded largely through philanthropic contributions.
Rental rates at the property trail the market, allowing a new owner to take advantage of significant growth potential through moderate capital expenditure and upgrades to the community amenities. Multiple revenue growth opportunities exist through adding a fitness center, enhancing the pool area, parking fees, and charging amenity fees.
The San Marcos submarket has maintained occupancy rates over 97% even as rental rates have steadily increased, nearly 3% in the last 12 months alone. With its 2–3-bedroom unit mix, and convenient location, Elevation on Post is in a prime position for market rate conversion if desired. With proven conventional rent growth, the submarket offers a unique opportunity for investors.
Founded in 1899 as Southwest Texas State Normal School, Texas State University (Texas State or TXST) is a four-year public university and an emerging research institution. Texas State University welcomed a record 7,636 first-time freshmen in fall 2022, the largest freshman class in university history. Texas State University enrolled a total of 38,171 students for the fall 2022 semester, marking the eighth consecutive year with enrollment surpassing 37,000 students. Of the total student body at the beginning of the academic year, 34,234 were undergraduates and 3,937 were pursuing graduate or professional degrees. Diverse in nature, approximately 95% of students represent various counties within the state of Texas.
Texas State University can only accommodate 6,853 students in on-campus housing, with the remaining 31,318 (82%) generating a significant population for apartment demand in the area.
University Overview
Visit Doc Center
1629 Post Rd | San Marcos, TX
ICON AND LOFTS
100%
OCCUPIED
342
BEDS
132
UNITS
Opportunity
Property Info
Location
Photo Gallery
Contact
Doc Center
Privacy
Terms of Use
100%
Preleased
$1.57
Avg Rent / SF
1,057
Avg Unit SF
Location
Property Info
Opportunity
DOC CENTER
Terms of Use
Privacy
Photo Gallery
Contact
Michael Gonzalez
Senior Director
512.226.8718 | michael.gonzalez@berkadia.com
Justin Chambers
Director
512.969.6838 | justin.chambers@berkadia.com
Justin Cole
Senior Director
512.226.8711 | justin.cole@berkadia.com
Kelly Witherspoon
Senior Managing Director
512.226.8706 | kelly.witherspoon@berkadia.com
