S3 Capital has originated a $116 million acquisition and construction loan to finance the development of a new purpose-built student housing project being developed by Elevate Development Partners near Texas State University in San Marcos, Texas. Upon completion, the project will comprise 260 units and 759 beds across 280,124 net rentable square feet, with a campus-adjacent location designed to serve students.
The development will feature a comprehensive indoor and outdoor amenity package tailored to student living, including study lounges, a resident social lounge, a bicycle room, a secured mail and package room, a resort-style pool, a yoga and wellness room, a fitness center, conference rooms, and fully furnished units with dedicated study space and modern furnishings.
The property is being developed to meet growing demand for modern, off-campus housing at Texas State, which enrolled a record 44,596 students in fall 2025, up 9.6 percent year-over-year and marking the
