Kalterra Capital Partners has announced the sale of McCarty Commons, a 224,000 square-foot, 249-unit apartment complex, located at 1476 E McCarty Lane in San Marcos, Texas. The project is one of three ground-up multifamily developments in Kalterra’s portfolio expected to transact this year.
The 10.4-acre McCarty Commons site falls within the Central Texas submarket, sitting between the San Antonio and Austin major metro areas. Just east of I-35 and the renowned San Marcos Outlet Malls, the project serves the growing demand for Class-A luxury apartments near Texas State University. McCarty Commons began construction in 2018, completed in 2019 and was fully stabilized in 2020.
The modern Hill Country design includes luxurious interior and exterior finishes designed to meet the needs of a variety of professionals and university students seeking high-quality amenities and low maintenance living. The project has an urban inspired layout with specialized project amenities including a resort-style pool, volleyball court and a modern, integrated clubhouse.
Kalterra has experienced success due to its ability to develop design-forward communities in key submarkets. The company is building a legacy to challenge the status quo, maintain an investor focus, and move quickly and efficiently to deliver outstanding results to its investors. Kalterra is poised for significant growth with many new multifamily projects across DFW and Central Texas set to break ground in 2021.
Cross Architects, Shreve Land Construction, Sunridge Management, Bellwether Enterprises, and Warsaw Realty Group supported Kalterra in the execution of the project.
