The Timbers is a student housing community located at 900 Peques Street in San Marcos, Texas. The property has 155 units and accommodates a total of 253 beds, situated on 9 acres of land. It is currently 99.6% occupied and includes amenities such as a fitness center and swimming pool, which enhance its appeal to students, particularly due to its proximity to Texas State University.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $19,400,000
• Market: San Marcos
• Asset Units: 155
• Asset Beds: 253
• Landlord: Orion Real Estate Partners
• Lender: Freddie Mac
• Brokers: Dan Kearns, Katia Novi, Patricia Heminger & Rebecca Brielmaier - JLL
• Loan Type: Refinance

The loan of $19.4 million was arranged by JLL Capital Markets to refinance the property, which was previously purchased in December 2021 for $22.3 million. The financing reflects the continued interest in student housing investments within the market.