San Marcos, Texas — CBRE has arranged the sale of Dakota Ranch, a 316-bed student housing community located near Texas State University in San Marcos.
The property offers one-, two- and three-bedroom units. Shared amenities include a resort-style swimming pool with a fountain, an outdoor kitchen, sand volleyball court, dog park, updated business and fitness centers and a grilling area.
An affiliate of New York City-based Alden Street Capital purchased the asset from an affiliate of Alex Brown Realty for an undisclosed price. Jaclyn Fitts, Williams Vonderfecht and Casey Schaefer of CBRE arranged long-term financing on behalf of the buyer through CBRE’s Fannie Mae Delegated Underwriting and Servicing program. The financing featured a seven-year loan term with a flexible prepayment structure and full-term interest-only payments.
Article originally published on studenthousingbusiness.com.