News Releases

Trez Capital commits to 304-unit development project in San Marcos, Texas

February 22, 2022

Toronto, ON/Austin, Texas – February 21, 2022 – Trez Capital announces the closing of an equity investment in partnership with Thompson Realty Capital, LLC for the development of a garden-style multifamily project in San Marcos to be called La Cima. With a total development cost in excess of USD $50 million, this project marks a key addition to the company’s development fund, the Trez Capital Private Real Estate Fund Trust (TPREF). This announcement comes on the heels of another joint venture partnership with Thompson Realty Capital for the recent closing of a USD $33.3 million equity investment for the development of a 504-unit garden-style multi-family project in Austin.

The La Cima project is located in Hays County along the I-35 corridor and is approximately 30 minutes from Austin and San Antonio. Spanning 21 acres, the project will include 304 units with attached and detached garages in two- and three-story buildings. Residents will experience unmatched Texas Hill Country apartment living with unsurpassed views and large mature oak trees throughout the property. La Cima will feature a class A leasing office, amenity center and resort-style pool.

“We have continued to see great success and higher-than-expected investor returns from our various joint-venture partnerships with Thompson Realty Capital. We look forward to delivering another successful project as a part of TPREF, this time in San Marcos, as we continue to provide equity investment solutions for our partners and investors,” said Trez Capital’s Global Head of Origination, John D. Hutchinson. “We have targeted various investments in the Texas Hill Country due to the area’s strong migration growth over the last couple of years. There has been tremendous growth and opportunity in Hays County – the area’s population has grown approximately 54% in the last ten years and continues to grow at a rapid rate.”

La Cima is an example of Trez Capital’s joint-venture partnership program which provides experienced developers with equity financing for value-add and ground-up developments in key markets with strong population, employment and GDP growth. In these areas, Trez Capital targets investments in the multi-family, single-family for rent, industrial and self-storage asset classes. Trez Capital, along with its development partners, intends to provide capital appreciation for investors through the development process and sustainable income from holding properties over the long-term.

An affiliate of Thompson Realty Capital, LLC will serve as property manager upon project completion. Trez Capital and Thompson Realty Capital have delivered or have under construction seven multi-family projects totaling 1,958 units throughout Texas, with project returns exceeding projections. The La Cima project marks the eighth joint-venture project with Trez Capital and Thompson Realty Capital.


The project is expected to complete in December 2023.

For more information about the financing of this investment and Trez Capital’s equity investment partnership program, please contact John Hutchinson, Global Head of Origination, at 214.545.0952 or

For more information about the Trez Capital Private Real Estate Fund Trust (TPREF), please contact Vikram Rajagopalan, Executive Managing Director, Global Head of Capital Raising, at 647.788.1787 or

About Trez Capital

Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndications, and joint ventures; and provides property developers with quick approvals on flexible short- to mid-term financing.

With offices across North America, Trez Corporate Group has over $4* billion CAD in assets under management and has funded over 1,600 transactions totaling more than $14.5 billion CAD since inception. The Dallas office has funded more than $5.1 billion in loans. For more information, visit (*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $2.7 B Manager AUM (Trez Capital Fund Management Limited Partnership)).

About Thompson Realty Capital, LLC

For over 40 years, Thompson Realty Capital, LLC, and its predecessor, has developed significant residential, mixed use, office and retail properties in the Dallas/Fort Worth, Austin, San Antonio and Northern Virginia markets.  With multifamily development as its primary focus over the last decade the company has developed, owned, managed and sold nearly 10,000 units.  The company has also developed mid-rise office buildings, suburban office buildings, industrial and showroom projects, apartments and retail centers. These developments encompass over $2 billion in transaction flow, 5,000 acres and nearly 10,000 single family lots.