Nest San Marcos SOLD for $8.5 Million

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In July 2019, JoCo Partners announced the sale of Nest San Marcos apartments in San Marcos, Texas for $8.5 millions, yielding a 26% IRR. JoCo acquired with 104-unit apartment complex in the Fall of 2016 for $5MM, assuming the existing debt and adding further Seller Financing, minimizing its investment.

After purchase, a full value-add renovation was undertaken improving and adding to the amenities, along with strategic cosmetic exterior upgrades,
including new paint, cedar railing and fencing and a basketball and soccer sports court. Also:

  • Redesign of pool
  • New landscaping
  • Barbecue area
  • Hammock corral
  • Exterior lightning
  • Re-branding & signage
  • Parking lot upgrades

Interiors for all of the residential units were upgraded including:

  • New two-tone paint throughout apartment
  • New vinyl flooring throughout
  • Fixture and appliance upgrades
  • Refurbished existing cabinetry and countertops
  • New blinds
  • New plumbing and electrical fixtures

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