BWE, a national commercial and multifamily mortgage banking company, announced that it has secured a $23,500,000 loan to finance the acquisition and substantial improvement of The Edge, a 173-unit, 553-bed student housing community near the campus of Texas State University in San Marcos, Texas.
Chris Carroll, senior vice president, and Max Miller, senior analyst, both in BWE’s Chicago office, originated the financing on behalf of Campus Realty Advisors, a longtime BWE client. The acquisition comes as Texas State sees a surge in enrollment, which has increased by 5% over the last year to bring the entire student body above 40,000.
“As Texas State continues to grow, student residences like The Edge will play a critical part in ensuring students have access to quality housing that they can afford. We are proud to work with our longtime partners at Campus Realty Advisors to secure the financing necessary to turn The Edge into one of Texas State’s premier housing options,” said Carroll.
The Edge features a mix of 1-, 2-, 3-, and 4-bedroom apartments and offers students a wide range of amenities, including a fitness center, clubhouse, and basketball court. The community is located less than a mile from the Texas State campus and features a dedicated campus bus stop, giving residents easy access to classes and other areas of campus.
BWE stands as a national, full-service commercial and multifamily mortgage banking company committed to elevating real estate financing. Putting clients’ goals first, our experienced and trusted advisors offer comprehensive capital solutions by combining enduring debt and equity relationships with unparalleled local market insights across our 40+ offices and national servicing platform.
