The Lodge
1975 Aquarena Springs Dr, San Marcos, TX 78666
01.25
Acquisition Date
258
Number of Units
1,009
Avg SqFt.
5 Years
Target Hold Period
OUR PORTFOLIO
Recent Acquisitions
Description
Built in 2001, The Lodge is a 258-unit, 696-bed purpose-built student housing complex located in San Marcos, TX. The Lodge serves Texas State University. The university has a shuttle stop right outside the property. It takes 8 minutes for students to reach Texas State University from the shuttle stop. As demonstrated with our other assets, Oasis and Mirage, there is strong demand for renovated student housing assets along the University’s shuttle stop system. These renovated properties still rent at a considerable discount to campus-adjacent properties, which makes them appealing to students.
Location
1975 Aquarena Springs Dr, San Marcos, TX 78666
Opportunity + Execution
Execution: Value-Add | Deal Source: Marketed
- Established, Purpose-Built Student Housing Serving Texas State University: The Lodge is a purpose-built student housing community serving Texas State University, located in close proximity to campus and positioned within a highly trafficked student housing corridor in San Marcos.
- Operational Execution Opportunity: Prior ownership underinvested in day-to-day operations, creating an opportunity for Palladius to implement institutional-quality management practices focused on leasing execution, marketing strategy, revenue management discipline, and streamlined maintenance and turn processes.
- Underinvested Asset with Clear Value-Add Plan: The property benefits from a targeted capital improvement strategy addressing deferred maintenance and selective common area and unit interior enhancements designed to improve resident experience, competitive positioning, and long-term cash flow durability.
- Favorable San Marcos Student Housing Market Dynamics: Texas State University anchors a large and growing student population, while new off-campus student housing development remains constrained by entitlement complexity, rising construction costs, and extended delivery timelines, supporting sustained demand for well-located, purpose-built assets.