Orion Real Estate Partners Acquires 155-Unit Value-Add Apartment Complex in San Marcos, Texas (Austin MSA)
THE ANGEL, December 28, 2021 / PRNewswire / – The angel-based Orion Real Estate Partners (“Orion”) announced today that it has acquired The Timbers, a garden-style apartment complex in San Marcos, Texas. Orion purchased the 155 unit condominium from The Jacobson Company, which it has owned since 2016 and plans to approximately invest $ 10.7 mm in interior and exterior improvements. The property sits on nine acres of irreplaceable hilltop land overlooking downtown San Marcos and Texas State University (TXST), home to 38,000 students. San Marcos is considered an increasingly attractive and cheaper alternative to Austin, Home to over 2.1 million people with well-known employers such as Apple, Facebook, Oracle, Google, Dell and Tesla. The Timbers is just 30 minutes from downtown Austin.