Byline Bank Provides $15M for Student Housing Near Texas State
Chicago-based Byline Bank’s Commercial Real Estate Group (BCREG) has closed on a $15.2 million loan with Campus Realty Advisors and T2 Capital. The transaction funds the acquisition, renovation and repositioning of The Junction San Marcos, a 152-unit, 488-bed student housing community in San Marcos, Texas, near Texas State University.
This loan marks the first commitment between Byline and Campus Realty Advisors, while T2 Capital is a long-time client of BCREG. The loan will assist in the acquisition and revitalization of the property located at 109 West Avenue. Campus Realty Advisors and T2 Capital plan to renovate all units and common areas.
“The upgraded property will be a welcome addition to the San Marcos rental market, which has seen strong growth and nearly full occupancy for several years in a row,” said Matt Robertson, Senior Vice President in Byline’s Commercial Real Estate Group. The law firm Smith Gambrell Russell represented Campus Realty Advisors and T2 Capital in this transaction, while Holland & Knight represented Byline Bank.
