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SAN MARCOS — A joint venture between URDANG, the real estate investment manager of BNY Mellon Asset Management, and Falcon Southwest has acquired The Palazzo, a 300-unit, Class A multifamily community in San Marcos. Located at 1011 Wonder World Dr., the property is visible from Interstate 35. The joint venture will focus on improving property operations, addressing deferred maintenance and implementing a moderate renovation program. URDANG made its portion of the acquisition through Urdang Value-Added Fund II L.P., a closed-end private real estate fund managed by Urdang Capital Management. The property was purchased from a private seller.