Villagio
492 Bed Student Housing | San Marcos, TX
07.25
Acquisition Date
180
Number of Units
1,057
Avg SqFt.
4 Years
Target Hold Period
OUR PORTFOLIO
Recent Acquisitions
Description
Built in 2006, Villagio is a 180-unit, 492-bed purpose-built student housing complex located in San Marcos, TX. As a sister property to The Lodge, our other asset, the property serves the Texas State University student body. Villagio is located across the street from Lodge and is owned by the same ownership group that owned Lodge. The property is part of the shuttle stop route to the university, making Villagio an appealing location for students. Palladius will implement operational improvements and capital projects based on what has been most effective at Oasis and Mirage when improving the perception of the Property and increasing rental rates.
Location
1850 Aquarena Springs Drive
San Marcos, TX 78666
Opportunity + Execution
Execution: Value-Add | Deal Source: Off-Market
- Campus-Adjacent, Purpose-Built Student Housing: Villagio is a purpose-built student housing community serving Texas State University, located in a highly constrained, campus-adjacent submarket with limited directly comparable off-campus alternatives.
- Operational and Leasing Upside Opportunity: Palladius identified an opportunity to enhance leasing performance and resident engagement through improved marketing execution, pricing cadence, and operational efficiencies, while maintaining the property’s established positioning within the student housing market.
- Physical Enhancements to Drive Competitiveness: The asset benefits from a light-to-moderate value-add program focused on deferred maintenance remediation, common area enhancements, and selective unit upgrades intended to strengthen appeal and support rent growth over time.
- 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.