(HOUSTON, TEXAS) CBA Land Capital is the equity partner in a deal that closed Sept.25 with Houston developer Land Tejas. The 856 acres acquired in Cypress is slated for the immediate development of a future master-planned community.
The property is located north of FM 529, west of Fry Road and east of The Grand Parkway in northwest Harris County.
“Closing on this property is the start of a series of projects we have in the works that represent immediate opportunities for our partners and investors, said Paul Connor, Principal and Founder of CBA Land Capital. “This land is in a prime location and we’re proud to partner with Land Tejas to see it developed.”
Approximately 2,500 single-family homes are planned for the acreage once development is complete. Land Tejas has not yet announced a name for the community. CBA Land Capital will provide lot banking opportunities for homebuilders looking to secure inventory in the development.
“Demand for homes in the Cypress area has been phenomenal,” said James Henrie, Chief Operating Officer of Land Tejas. “This will be our third foray into the area following the success of our Canyon Lakes West and Miramesa communities.”
Financing for acquisition and development was provided by Trez Capital.
Land Tejas communities have continuously been ranked among the top-performing communities in the nation including Harmony in Spring which was recognized for the third consecutive year as one of the nation’s 20 top-selling Master Planned communities by research firm Robert Charles Lesser & Co. (RCLCO) and John Burns Real Estate Chubs of Katy, the Energy Corridor, the Galleria and Downton Houston.”
Land Tejas communities have continuously been ranked among the top-performing communities in the nation including Harmony in Spring which was recognized for the third consecutive year as one of the nation’s 20 top-selling Master Planned communities by research firm Robert Charles Lesser & Co. (RCLCO) and John Burns Real Estate Consulting.
About CBA Land Capital
CBA Land Capital LP, an affilaite of Connor Investment Real Estate, is a real estate equity and investment firm focused on suburban residential and master-planned community real estate in Texas. CBA Land Capital LP works with private and institutional partners to invest in residential real estate opportunities by providing developers and homebuilders alternative forms of capital.
The principals of CBA Land Capital LP and Connor Investment Real Estate are involved in more that $250 Million in real estate equity investments.
About Land Tejas
Land Tejas is one of the largest developers of master-planned communities in the greater Houston area. During its 20-year history, Land Tejas has developed in excess of 10,000 acres of land into master-planned communities, including: Canyon Gate at Cinco Ranch, Canyon Gate at Northpointe, Northpointe East, Canyon Village at Cypress Springs, Canyon Gate at the Brazos, Cardiff Ranch, Legends Ranch, Park Lakes, Sterling Lakes, Stone Gate & Canyon Lakes at Stone Gate, Westheimer Lakes and Westheimer Lakes North.