CBRE Arranges Sale of 478-Unit Value-Add Multifamily Community in College Station, Texas
05 3月 2018
CBRE announces the sale of The Marc, a 478-unit value-add multifamily community in College Station, Texas. Located near Texas A&M University, the apartment community was built in 1969 and 1977 and offers one, two and four-bedroom units. Dallas- and Austin-based Presidium purchased the asset for an undisclosed price.
“With former ownership operating The Marc as a by-the-bed student housing property, new ownership has the opportunity to lease by-the-unit year-round to capture young professionals and students,” said Ms. Fitts, Director of National Student Housing at CBRE. “Additionally, the asset offers an excellent value-add opportunity.”
The property boasts expansive amenity spaces, including four resort-style swimming pools, a large pet park, basketball, volleyball, and tennis courts. Recently upgraded unit amenities include red oak wood cabinets, in-unit washer and dryer, spacious closets with built-in organizers, and fully-equipped kitchens.
“Conventional owners understood that although The Marc is close to the second largest university in the state, there is added opportunity with the property’s proximity to major employers and the Post Oak Mall, as well as the fact that College Station has a non-student population growth that far exceeds the state’s average,” said Mr. Deuillet, Senior Vice President with CBRE Dallas Multifamily.
Located along Harvey Road, near the intersection of Texas Avenue, The Marc is a half mile from Texas A&M University and minutes from major retailers like H-E-B, Target and Macy’s. A campus shuttle bus picks up every eight to ten minutes and offers residents a quick commute to campus.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.