CORRECTING and REPLACING CBA Land Capital, Arena Investors Close Land Bank Deal in Cypress Green Master-Planned Community
Financing for Phase Two of Development Closes as Phase One Commences; Cypress Green to Consist of 2,200 Homes at Completion
HOUSTON–(BUSINESS WIRE)–#alternativefinancing–Please replace the release with the following corrected version due to multiple revisions.
The updated release reads:
CBA Land Capital, Arena Investors Close Land Bank Deal in Cypress Green Master-Planned Community
Financing for Phase Two of Development Closes as Phase One Commences; Cypress Green to Consist of 2,200 Homes at Completion
CBA Land Capital, an alternative financing firm providing land banking for proven developers, today announced that the company arranged the capital on a 200-acre land banking deal in the Cypress Green master-planned community with Arena Investors LP, a New York-based global investment firm.
Located off of FM 2920 in the strongest new home corridor in Houston, Cypress Green will include more than 2,200 new homes. Cypress Green is being developed by Land Tejas known for large master-planned communities across Texas including Balmoral and Lago Mar, which feature the popular Crystal Lagoon. Phase One development has already commenced on the first 150 acres and 500 lots. With financing now in place, the development of the 200 acres in Phase Two is slated to begin in the second quarter of 2022.
“Historically low mortgage rates and the ongoing demand for new housing in Houston is fueling the interest in the Cypress Green community,” said Paul Connor, Principal and Founder of CBA Land Capital. “Capital financing from institutional investors like Arena Investors and our existing local partnerships ensure the continued development and home construction in Cypress Green and other new developments in Houston and across Texas.”
In today’s lending environment, the requirements for a traditional financing structure can stretch a company’s capital resources and balance sheet to its limits. However, securing and maintaining positions in the market, whether land or lots, is crucial to the continued growth of developers and homebuilders. CBA Land Capital is a non-traditional lender and offers a structure to alleviate capital and resource strains placed on developers and homebuilders.
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 works with residential developers and homebuilders primarily in south-central Texas to assist and provide capital structures, which allow for the acquisition and development of land and lots. The team’s understanding and knowledge of land development, local market conditions, and capital markets provide a unique combination of skills to assist with structuring a project. For more information, please call 281-602-0600 or visit www.CBALandCapital.com.
ABOUT ARENA INVESTORS, LP
Arena Investors is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With $2.2 billion of committed assets under management as of January 1, 2021, and a team of over 80 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.
ABOUT LAND TEJAS
Land Tejas is one of the largest developers of master-planned communities in the greater Houston area. In 2019, Land Tejas was ranked the #1 developer of residential lots in the Houston market based on number of lots developed and sold. The company controls a pipeline of more than 15,000 future residential lots and currently has 11 active communities. During its 23-year history, Land Tejas has developed in excess of 28,000 lots and 16,500 acres of land into master-planned communities, including: 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, Westheimer Lakes North, Lago Mar, Vanbrooke, Sierra Vista, Balmoral, Harmony, Wedgewood Forest, Canyon Lakes West and Miramesa at Canyon Lakes West. For more information please visit www.LandTejas.com/contact.
Contacts
Carrie Ward for CBA Land Capital, carrie.ward@connexionspr.com, 832-407-5347
