Haven at Thorpe Lane
Marble Capital made a $5,700,000 preferred equity investment in Haven at Thorpe Lane, a garden style student living project being developed by University Living in San Marcos, Texas.
Construction on the project began in February 2017, and the construction is expected to be completed in June 2018. Once developed, the property will contain 348 beds in 186 units with a combination of one and two bedroom units. Project amenities will include a resort style swimming pool with a fire pit and lounge area, a state of the art fitness center, study rooms on each floor, and a common area lounge. Additionally the property will be located on the Texas State Shuttle Bus Route, providing easy access to campus.
Marble Capital’s $5.7 million preferred equity investment was part of a larger financing package, which also included a first mortgage loan from Frost Bank and an equity investment made by University Living.