Case Studies

Execution: Value Add | Deal Source: Relationship based (fully marketed)

• Ursa has a strong reputation amongst the students of Baylor. Ursa is well known for its townhomes and large resort style pool. There is not much purpose-built townhome product serving Baylor, which is a highly desired apartment-type among prospective tenants.
• Palladius has the opportunity to improve the operations and tenant experience. The operational execution plan includes overhauling the marketing program to focus more on resident life events. Additionally repairs & maintenance and turn expenses will also be streamlined.
• Ownership did not invest the requisite capital needed to enhance the asset and maximize rent growth. Palladius will improve common areas and fix deferred maintenance. Additionally, a light value-add program will be implemented on unit interiors.
• Baylor has grown enrollment by 33% over the past decade and serves approximately 21,000 students. The University had a record student body size for the ‘23/24 academic year with the current academic year being the third in a row that total enrollment exceeded 20,000 students. Additionally, Baylor had a record-breaking 56,000 applications for the ’24/25 academic year. Baylor also completed construction of their $213M basketball arena in Q1 2024.