Updated Mar 17, 2025
Campus Realty Advisors Secures $23.5 Million Loan For The Edge Student Housing In San Marcos
1740 Old Ranch Road 12
$23,500,000
Units
173
Asset Type
Student Housing
Closing
Mar 13, 2025
About this deal
AI
The Edge is a 173-unit, 553-bed student housing community located at 1740 Old Ranch Road 12 in San Marcos. BWE secured a $23.5 million loan for Campus Realty Advisors to acquire and upgrade this property. Planned renovations include unit upgrades, enhanced amenities, and improvements to the clubhouse, study areas, and fitness center.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $23,500,000
- Number of Units: 173
- Number of Beds: 553
- Market: San Marcos
- Landlord: Randy Herron & Michael Putman - Campus Realty Advisors
- Brokers: Christopher Carroll & Max Miller - Bellwether Enterprise (BWE)
Christopher Carroll and Max Miller from Bellwether Enterprise represented Campus Realty Advisors in this transaction. The focus of the loan is to facilitate the acquisition and enhancement of the property, which is situated near Texas State University.
On the Map
$23,500,000
Student Housing
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San Marcos Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93