Kalterra Capital Partners sold the 224,000-square-foot property to a confidential buyer described as a private family office, a representative said in an email.
“Kalterra is proud to complete the sale of our first multifamily development in San Marcos, Texas,” Kalterra Capital Partners co-founder Clint Nolen said in the release. “McCarty Commons not only represents our purpose to meet the needs of our investors and communities, but it also represents the phenomenal team that worked together to make it one of our many upcoming successes.”
Features of the community include a resort-style pool, a volleyball court and a clubhouse, and the design includes luxurious interior and exterior finishes.
According to the release, Kalterra has multiple multifamily projects slated to break ground in Dallas-Fort Worth and Central Texas this year.
"We strive to develop unique, first-class multifamily communities for the suburban market that yield superior returns," Nolen said. "As job growth and demographics continue to point towards increased renter demand in Texas, we continue to seek opportunities to provide much needed supply of high-quality multifamily housing."