Trez Capital announced an equity investment totaling more than $50 million in a multifamily San Marcos development.
The investment is part of a partnership with Thompson Realty Capital, LLC for the development of a 304-unit multifamily project in San Marcos to be called La Cima.
This announcement comes on the heels of another joint venture partnership with Thompson which put $33.3 million toward the development of a 504-unit multifamily project in Austin.
The 21-acre site of the future La Cima is located in Hays County along the I-35 corridor and is approximately 30 minutes from Austin and San Antonio.
“We have continued to see great success and higher-than-expected investor returns from our various joint-venture partnerships with Thompson Realty Capital,” said Trez Capital’s Global Head of Origination, John D. Hutchinson.
“We have targeted various investments in the Texas Hill Country due to the area’s strong migration growth over the last couple of years. There has been tremendous growth and opportunity in Hays County – the area’s population has grown approximately 54 percent in the last 10 years and continues to grow at a rapid rate.”
The project is expected to be completed in December 2023.
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