S3 Capital originated a $116 million acquisition and construction loan to finance the development of a new student housing project being developed by Elevate Development Partners near Texas State University in San Marcos, Texas. Upon completion, the project will comprise 260 units and 759 beds designed to serve students at Texas State University. Construction will be led by Flintco.
Texas State enrolled a record 44,596 students in fall 2025, up 9.6% year-over-year and marking the university’s fifth consecutive year of record growth.
Amenities include study lounges, a resident social lounge, a bicycle room, a secured mail and package room, a pool, a yoga and wellness room, a fitness center, conference rooms, and fully furnished units with dedicated study spaces and modern furnishings.
Walker & Dunlop Capital Markets Institutional Advisory, led by Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, and Dustin Stolly, arranged the transaction on behalf of the clients.Â
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