BACK TO NEWS OVERVIEW

Orion Real Estate Partners Acquires 155-Unit Value-Add Apartment Complex in San Marcos, Texas (Austin MSA)

December 28, 2021

LOS ANGELES, Dec. 28, 2021 /PRNewswire/ — Los Angeles-based Orion Real Estate Partners (“Orion”) announced today that it has acquired The Timbers, a garden-style apartment community in San Marcos, Texas. Orion purchased the 155-unit apartment community from The Jacobson Company who owned it since 2016 and plans to invest approximately $1.7mm in interior and exterior improvements. The Property sits on a nine-acre, irreplaceable hilltop site overlooking downtown San Marcos and Texas State University (TXST), home to 38,000 students. San Marcos is well positioned as an increasingly attractive and affordable alternative to Austin, home to over 2.1 million people with notable employers such as Apple, Facebook, Oracle, Google, Dell, and Tesla. The Timbers is located just 30 minutes away from downtown Austin.

This is Orion’s sixth acquisition in the central Texas corridor, spanning from Austin to San Antonio, and the firm is focused on expanding its portfolio in the area. Orion has a favorable long-term outlook on central Texas and expects that the corridor will continue to outperform the nation in both job and population growth. CBRE Multifamily Capital provided an acquisition loan through East West Bank, and Orion engaged Peak Campus, a national leader in student-housing, to provide property management services.

About Orion Real Estate Partners: Orion Real Estate Partners is a private real estate investment firm that targets value-add multifamily assets in Western US markets with strong demographics and job growth. Utilizing proven institutional processes to source and manage investments, we identify assets with capital and operational repositioning opportunities to provide attractive returns for our investors.

Orion, together with its affiliates, has acquired 2,283 units since 2016 and currently owns 1,778 units in Colorado, Texas and Utah. For more information, please visit: http://orionrep.com/

More News

Orion Real Estate Partners Acquires 316-Unit Townhome Style Apartment Complex In San Antonio, TX
Newmark Announces Sale of Multifamily Property in West Denver Suburbs
Orion Real Estate Partners Acquires 115-unit Value-add Apartment Complex in Provo, Utah
Orion Real Estate Partners Acquires 64-Unit Newly Constructed, Luxury Apartment Community in Denver MSA at a Significant Discount to Replacement Cost
Who we are

Orion Real Estate Partners

Orion Real Estate Partners is a private real estate investment firm with offices in Los Angeles, Denver, and Austin.

Orion targets value-add multifamily assets in select Western US markets with strong demographics and job growth. Utilizing proven institutional processes to source and manage investments, we identify assets with capital and operational repositioning opportunities to provide attractive returns for our investors.

Home Overview Strategy Investment Criteria Portfolio Team News Contact Us Investor Login