CBRE Brokers Sale of 316-Bed Student Housing Community Near Texas State University in San Marcos

by Taylor Williams

SAN MARCOS, TEXAS — CBRE has brokered the sale of Dakota Ranch, a 316-bed student housing community located roughly one mile from Texas State University in San Marcos. Built in 2002, the property offers one-, two- and three-bedroom units ranging in size from 523 to 1,111 square feet. Amenities include a pool, fitness center, outdoor kitchen, volleyball court, a dog park and a business center. An affiliate of New York-based Alden Street Capital purchased the asset from an affiliate of Alex. Brown Realty for an undisclosed price. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE brokered the deal, and Benjamin Roelke of CBRE secured a seven-year loan through Fannie Mae for the acquisition.

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