This month, Orion Real Estate Partners inked a deal to acquire a 155-unit apartment complex in San Antonio that they say is a high-value play. 

The complex that has been acquired is called The Timbers, and it's a garden-style apartment community located in San Marcos. The complex was purchased from The Jacobson Company, who has owned the complex since 2016. 

Following the purchase, Orion Real Estate plans to invest $1.7 million in improvements to the interior and exterior in the form of cosmetic and structural improvements. 

The property sits on a nine-acre hilltop site that boasts one of the most unique and irreplaceable views in the region. The hilltop overlooks downtown San Marcos and Texas State University, which is home to 38,000 students. 

Apartment owners in the complex flock to the property as a more affordable alternative to living in Austin, which has a population of 2.1 million people and is a popular hub for employees from Facebook, Oracle, Apple, Google and other tech companies. By settling down at The Timbers, those employees can enjoy a 20-minute commute to the city. 

According to the press release: "This is Orion's sixth acquisition in the central Texas corridor, spanning from Austin to San Antonio, and the firm is focused on expanding its portfolio in the area. Orion has a favorable long-term outlook on central Texas and expects that the corridor will continue to outperform the nation in both job and population growth. CBRE Multifamily Capital provided an acquisition loan through East West Bank, and Orion engaged Peak Campus, a national leader in student-housing, to provide property management services."