The Opportunity
ASSET HIGHLIGHTS
- The Pointe is adjacent to campus and only two blocks from the LBJ Student Union and Alkek Library
- Built in 2017, the community is highly amenitized featuring a resort style pool, outdoor grilling stations, 24-hour fitness center, on-site garage parking, and two rooftop terraces
- The asset is currently 91% leased and preleasing is ahead of last year’s pace
MARKET HIGHLIGHTS
- Texas State University enrollment in 2018 topped 38,600 students
- Freshman enrollment grew for the sixth straight year to a fall 2018 class of 6,087, a 3.6% increase over 2017
- There are no properties in the construction pipeline closer to campus than The Pointe
ADDITIONAL UPSIDE
- Compared to it’s competitive set, The Pointe is $59 per bed below the market average and $121 per bed below the Haven at Thorpe Lane, which leads the market
- With the best location in the market, and below market rental rates, a new owner should rebrand the asset and make it the premier student community serving TSU
The Property
Pointe San Marcos is a premiere 109-unit, 344-bed, mid-rise, student housing community located in the heart of San Marcos, Texas, directly across the street from Texas State University and just blocks from The Square. Built in 2017, the property contains one multi-level, “O”-shaped, modern building with three-, four-, and five-stories. Surrounded by tree-lined walkways, the buildings have brick and stucco finished exteriors, flat roofs, and ground-floor retail.
Situated on 1.29 acres of land with a density of 84.5 units per acre, Pointe San Marcos encompasses an extensive unit mix comprised of studio units measuring between 309 and 356 square feet, one-bedroom units containing 552 square foot each, two-bedroom units spanning between 651 and 956 square feet, three-bedroom units measuring between 1,024 and 1,232 square feet, four-bedroom units containing between 1,363 and 1,741 square feet, five-bedroom units spanning between 1,602 and 2,013 square feet, and six-bedroom units measuring between 1,932 and 1,954 square feet.
property amenities
UNIT Amenities
- Private Bedrooms and Bathrooms*
- Loft Style Units (some with downtown views)
- Private Balconies
- Walk-In Closets*
- Wood Style Flooring
- Energy Star Appliances
- Ceiling Fans
- Granite Countertops
- Cable, Internet, Trash and Sewer Included
- Washer/Dryer in Every Unit
- Modern Finishes
- Gourmet Kitchen with Designer Tile Backsplash
- Designer Tiled Bathrooms
- Private Individually Keyed Entry to Bedrooms
- Flat Screen TVs in Every Living Room
*In Select Units
COMMUNITY Amenities
- Resort-Style Pool
- Tanning Booths
- Multiple Coffee Bars
- Exclusive Resident Events
- Grilling Stations
- Reserved Parking Available
- Two Rooftop Terraces with Panoramic Views
- Resident Lounge with Gaming Area, Pool Table, and Flat Screen TVs
- 24-Hour Fitness Center
- On-Site Gated Parking
- Conference / Study Room
- Controlled Access and Key FOB System Throughout
- Across the Street from Campus and just Blocks from The Square
market area
texas state university
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's main campus is located in the Texas Hill Country on the banks of the San Marcos River, with its Round Rock Campus situated 52 miles northeast.
As a key driver in the local economy, Texas State University employs 3,738 full-time faculty and staff members. According to a recent study, TXST generates an annual economic impact of $1.1 billion in Hays County, contributing to a total economic impact of $2.2 billion in the state; $1.4 billion is attributed to direct, indirect, and induced spending by Texas State students and visitors, while the remaining $822 million results from university and employee spending. Overall, Texas State University activity creates more than 29,000 jobs in Texas, over 17,000 of which are in Hays County.
Texas State University welcomed a total of 38,644 students in the fall of 2018, 36,660 of which enrolled at the main campus in San Marcos and 1,984 of which enrolled or co-enrolled at the Round Rock Campus. Of the total student body at the start of the 2018 academic year, 34,187 were undergraduate students and 4,457 were seeking graduate or professional degrees. Culturally diverse in nature, 53% of students enrolled at Texas State University are historically underrepresented minorities. University on-campus housing can only accommodate 6,854 students, leaving 82% of students in need of off-campus housing, making TXST a major source of apartment demand.