The Thompson, a 528-bed, 132-unit student housing staple for Texas State University, is changing hands and getting a facelift. Henderson Park and Student Quarters have bought the 11-building, garden-style complex in San Marcos and are lining up a round of unit and amenity upgrades that are set to roll out in 2026. For students, the switch means a familiar off-campus option will now be run by a national operator that is promising refreshed interiors and a more robust slate of resident events.
Deal details and ownership
In a press release via Henderson Park, the firm confirmed that it teamed up with Atlanta-based Student Quarters to close on The Thompson, a garden-style community built in 2013 that sits on roughly 10 acres near the Texas State campus. CBRE is listed as the sales and debt broker on the transaction, handling the deal on both sides of the table. Under the new setup, Student Quarters will take over day-to-day operations at the property.
Property snapshot
The Thompson is spread across 11 three-story buildings and includes 132 units configured as four-bedroom, four-bath townhomes and flats, according to Student Housing Business. Residents share a beach-entry pool, a fitness center, private study rooms, volleyball and basketball courts and an outdoor pavilion that doubles as a stage for live music. The community also advertises about 550 parking spaces. Its leasing site markets furnished units and a tech center tailored to Texas State students.
Management and plans
Student Quarters, which manages more than 12,000 beds nationwide, describes The Thompson as a fit for its value-add strategy and says it will focus on both operational tweaks and experiential upgrades at the community, per its corporate materials. The company has told investors that the plan centers on capital improvements to unit interiors, along with enhanced amenity programming and more resident events in an effort to boost retention. Management says the work will be phased to keep disruption during the academic year as limited as possible.
Owners' comments
“This acquisition of The Thompson represents Henderson Park’s entry into the Texas market,” Nick Weber, CEO and founder of Henderson Park, said in the company release via Henderson Park. Andy Feinour, CEO of Student Quarters, called the asset “a tremendous value-add opportunity” and said the partners plan to position the community as a top choice for Texas State students. Neither firm has identified the seller or disclosed the sale price in public statements.
Why San Marcos matters
Texas State University has seen a recent enrollment surge, with the university reporting 44,596 students for Fall 2025, a trend that industry investors point to when buying near campus. Coverage of the transaction in the student housing sector also highlights what it describes as strong market fundamentals and enrollment growth in the San Marcos market since 2021, factors that the buyers cited in their rationale for the deal.
What residents can expect
The Thompson sits less than half a mile from the Texas State campus and is served by a university shuttle that stops directly outside the property, which should help keep student commutes short. Leasing materials promote furnished private bedrooms, a tech center, and frequent on-site events, and Student Quarters has said residents can expect upgrades to amenity spaces and unit finishes as the capital program moves forward. Management says it will update residents on timing and scope as plans are finalized.
What’s next
Henderson Park and Student Quarters say they plan to begin executing their operational and experiential upgrades in 2026 while continuing to operate the community, with CBRE listed as the transaction broker in public accounts. Trade coverage of the sale notes that the seller and purchase price were not disclosed. Investors and residents are being told to watch for more details from the management team in the weeks ahead.
