Completed
Cedars of San Marcos Apartments
San Marcos, TX
Overview
Asset class
Real estate
Asset type
Multifamily
Strategy
Value add
Funds
Heartland eREIT
Updates
New acquisition
August 22, 2017
We’re pleased to announce that we have invested roughly $4.4 million in a joint venture partnership to acquire the Cedars of San Marcos, a 168-unit garden-style apartment building in San Marcos, Texas.
New acquisition: Stabilized apartments in Texas Hill Country
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Progress update
January 15, 2019
Over the past year, this apartment community had some setbacks, but is now getting back on track.
Progress update: San Marcos property management making headway
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Exit
November 18, 2021
The project generated an annualized return of roughly 9.1%,¹ supporting quarterly dividends for Heartland eREIT investors.
Apartment renovation in San Marcos, TX
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Asset type
Multifamily
Multifamily (MF) is a residential building designed to house multiple tenants. These properties can range from small to large apartment complexes with hundreds of units. With a boom in remote work and business-friendly local governments courting employers, more affordably-priced suburban apartment communities have generally experienced stable or growing demand. Multifamily’s resilient demand and scale enables us to leverage our integrated operating platform to drive long-term performance.
Our strategy
Value add
Acquire real estate that needs improvements and / or lease-up.
- Expected variability of return: High
- Timing of expected return: Several months to a year
- Primary expected source of returns: Growth with some rental income
This section is intended to provide a general overview of the Value add strategy for educational purposes only, and is not meant to be representative of the specific details of any individual investment. All investments involve risk; there are no guarantees of any returns.