The Mirage - Texas State Student Housing
Status
Closed A Texas State University student housing acquisition assuming below-market fixed-rate debt, with a renovation and rebranding strategy to seek higher rents and NOI.
Location
San Marcos, TX
Investment Strategy
Value-Add
Property Type
Student Housing
Open To
Accredited Investors
Closed Date
Aug 2023
Investment Strategies
.svg)
There is a reason Investopedia has named us Best Overall Real Estate Crowdfunding Platform three years in a row.
*As reported by Investopedia, on 12/31/22, based on a variety of factors.
Sponsor Details
Sponsor Designation
CrowdStreet categorizes sponsors based on their experience and track record so our investors can get a sense of the firm behind the deal.
Enterprise
FIRM AGE15+ YEARS
LEADERSHIP EXPERIENCE30+ YEARS
PORTFOLIO VALUE$5 B +
National Platform
Ranked in the top 250 for estimated value of total holdings per Real Capital Analytics
Tenured
FIRM AGE10+ YEARS
LEADERSHIP EXPERIENCE20+ YEARS
PORTFOLIO VALUE$500 MM +
Leadership has invested together over multiple cycles
Dedicated investor relations and accounting staff
Seasoned
FIRM AGE5+ YEARS
LEADERSHIP EXPERIENCE10+ YEARS
PORTFOLIO VALUE$100 MM +
Network of repeat investors
Established banking relationships
Affiliations with national industry associations ULI, NAOIP, CCIM, SIOR or IREM
Emerging
FIRM AGE< 5 YEARS
LEADERSHIP EXPERIENCE2-5 YEARS
PORTFOLIO VALUE< $100 MM +
Strong leadership experience
Experience in the proposed asset class and geographic market
Experience in managing individual investors
 |
|
Sponsor Equity
$2,033,000.00
3.848192314972553%
Investor Equity
$18,297,000
34.63373083475298%
Senior Loan Amount
$32,500,000
61.51807685027446%
|
|
Total
$52,830,000
100%
|
||
On the CrowdStreet platform, offerings are treated pari-passu. |
||