San Marcos 24 shows the value of strong operator relationships, fast execution, and creative capital structuring. With 70% seller financing and interest-only terms, we reduced upfront capital needs and boosted returns. Strategic renovations enabled above-market lease-up performance, even as other nearby properties struggled with incentives and extended vacancy. The flexibility to refinance, hold, or sell gives us optionality in a changing market—without sacrificing monthly cash flow. This is a real-world example of how thoughtful investing outperforms aggressive repositioning in volatile cycles.