Starwood Capital Group, a global private investment firm focused on real estate and energy investments, announced that a controlled affiliate has acquired a majority interest in the assets owned by Land Tejas, a Houston-based residential development company with a more than 20-year history of creating exceptional lifestyle communities.
Land Tejas, founded in 1997, is one of the largest master planned community developers in Houston, where the housing market continues to benefit from record low inventory and high demand. The acquisition encompasses 10 communities, many in the late stages of development, with nearly 16,000 residential lots and numerous commercial assets. Land Tejas has become renowned for its extraordinary community amenities that include Crystal Lagoon pools spanning multiple acres with white sand beaches.
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“This transaction represents a tremendous opportunity to acquire a high-quality portfolio of mature residential communities built by a first-class developer in a leading growth market,” said Mike Moser, CEO of Starwood Land Advisors. “These communities are located in desirable submarkets and offer affordable price points that target the entry-level and move-up segments where there is the greatest buyer demand.”
“We are excited to partner with Starwood Capital to simplify our balance sheet and expand our growth potential with such a large investment firm specialized in real estate,” said Al Brende, Owner & Co-Founder of Land Tejas.
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Anthony Murphy, Vice President at Starwood Capital, said, “The acquisition of Land Tejas fits Starwood’s strategy of strong risk reward investments and presents a unique opportunity to capitalize on the compelling fundamentals of the single-family housing sector. We are excited to grow the business further under the leadership of our team at Starwood Land Advisors.”
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