COLLEGE STATION, TX—In a location that takes advantage of retail access in addition to a built-in student population at Texas A&M University, The Marc has a year-round population base. Texas A&M is the second-largest university in the state and College Station has a non-student population growth that far exceeds the state's average.
Dallas- and Austin-based Presidium recently purchased the asset for an undisclosed price. CBRE Dallas multifamily's Chris Deuillet and Chandler Sims, and CBRE national student housing's Jaclyn Fitts, William Vonderfecht and Casey Schaefer arranged the transaction on behalf of the seller.
“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 Fitts. “Additionally, the asset offers an excellent value-add opportunity.”
The 478-unit value-add multifamily community was built in 1969 and 1977, and offers one-, two- and four-bedroom units. The property's amenity spaces include four 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, closets with built-in organizers, and updated kitchens.
“With a location near the Texas A&M campus but situated in an area that has more mature apartment complexes, residents at The Marc are poised to be near major employers, like the Post Oak Mall and retail centers along Harvey Road,” Deuillet tells GlobeSt.com. “The Marc does not need to rely on the university for residents. The population of Bryan/College Station is growing and The Marc is poised to take advantage of that growth.”
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 such as H-E-B, Target and Macy's. A campus shuttle bus picks up residents every eight to 10 minutes.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
