CBA Land Capital LP, a division of Connor Investment Real Estate, announced today that it recently closed on the sale of land to residential developer Land Tejas for the final phase of Balmoral, the No. 1 selling master-planned community in Texas featuring the Crystal Lagoon.
IBC Bank issued the loan to Land Tejas for the final phase and CBA Land Capital LP secured the investment equity for development. The final phase of lots is expected to be delivered by the end of 2022. Three hundred and twenty single-family homes are planned for this phase of development. Homebuilders Lennar, Colina Homes, Gehan Homes, Perry Homes and CastleRock Homes have secured positions for the remaining single-family lots. Home prices are estimated to be in the $250K – 450k range.
Balmoral is an 845-acre master planned community set in gated, non-gated and lakeside villages in the West Lake Houston area near North Sam Houston Parkway and Woodland Hills Drive. When completed, Balmoral will include nearly 2,300 homes, lakes, parks, and walking trails. The centerpiece of the community’s amenities is Texas’ first Crystal Clear Lagoon, which is surrounded by white sand beaches, a 7,500 sq. ft. clubhouse, sand volleyball court, splashpad and more. Balmoral celebrated the grand opening of the two-acre lagoon in August 2018.
The lagoon features a kids’ cove and two white sand beaches including a family beach with cabanas and lounge chairs and a serenity beach that offers beach volleyball.
CBA Land Capital helps developers and homebuilders secure prime locations, manage cash flow and leverage costs by working as partners with their clients to structure projects based on a client’s needs.
ABOUT CBA LAND CAPITAL
Headquartered in Houston, CBA Land Capital LP, a division of Connor Investment Real Estate, works with residential developers and homebuilders primarily in south-central Texas to assist and provide capital structures allowing for acquisition and development of land and lots. The team’s understanding and knowledge of land development, local market conditions and capital markets provides a unique combination of skills to assist with structuring a project. For more information, please call 281-602-0600 or visit www.CBALandCapital.com.
Carrie Ward for CBA Land Capital / Connor Investment Real Estate, firstname.lastname@example.org, 832-407-5347