Byline Bank Funds Additional $23.5 Million Loan for Texas State University Student Housing Complex

Byline Bank’s Commercial Real Estate Group (BCREG) has closed on a $23.5 million loan with Campus Realty Advisors and T2 Capital. The transaction funds the acquisition, renovation, and repositioning of The Edge Student Housing, a 173-unit, 553-bed purpose-built student housing community located at 1740 Old Ranch Road near Texas State University in San Marcos, Texas. This is the second deal between Byline, Campus Realty Advisors and T2 Capital in the last 12 months: In July 2024, Byline funded a $15.2 million loan for another 152-unit, 488-bed student housing community in San Marcos.

Conveniently located close to the Texas State campus, The Edge Student Housing features a variety of amenities, including a pool, volleyball and basketball courts, a fitness center, and access to nearby hiking trails. Campus Realty Advisors and T2 Capital plan to make significant capital improvements to each unit, as well as to the building’s common areas and amenities.

Upgrades in individual apartment units will include new plank hardwood floors, new cabinet pulls, updated bathroom fixtures, and modern paneled interior doors with updated hardware. The building’s clubhouse will be renovated and reconfigured to include an expanded, commercial-style fitness center with all-new equipment, improved study areas, a new community gathering area, and an updated leasing center. Outdoors, a kitchen, a firepit and new lounge furniture will be added to the pool area along with LED light fixtures and upgrades to the complex’s HVAC and water heating systems.

As one of the closest properties to the University campus in the Northern student housing submarket, the planned upgrades to The Edge Student Housing will help accommodate the rapidly growing number of enrolled Texas State students. According to data from the University, 40,678 students enrolled in Fall 2024, an increase of 5% year-over-year and a significant milestone for Texas State that includes record high enrollment among graduate, doctoral and international students.

“We’re delighted to once again partner with Campus Realty Advisors and T2 Capital to enhance the purpose-built student housing market in San Marcos,” said Matt Robertson, Senior Vice President in Byline’s Commercial Real Estate Group. “As the University’s enrollment numbers continue to grow, this deal is well-timed to provide much-needed renovated and quality accommodations for Texas State students. This closing is important to BCREG’s strategy of growing relationships with top-tier clients on a national basis.”

Campus Realty’s CEO, Randy Herron, added, “It’s great to continue the growth of our portfolio through the second transaction with Byline Bank in nine months. They share our vision of adding to the strength of the Texas State market by providing upgraded, top-quality student living at value rents.”

The deal closed in February 2025, and improvements on the property are expected to be completed ahead of the 2025-2026 school year. Campus Realty Advisors and T2 Capital were represented in this transaction by the law firm Smith Gambrell Russell, while Byline Bank was represented by Holland & Knight.

About Byline Commercial Real Estate Group

Byline’s Commercial Real Estate Group (BCREG), headquartered in Chicago, provides first mortgage construction, bridge and permanent loans secured by properties in the Chicagoland area as well as nationwide for Tier One customers. Since 2014, BCREG has closed $2.6 billion of loans for its target market, focusing on multifamily (including student housing and active adult), industrial, self-storage and retail properties. For more information, visit bylinebank.com/commercial-real-estate.