Starwood Capital Group, a global private investment firm focused on real estate and energy, has acquired a majority interest, through a controlled affiliate, in assets owned by Land Tejas.
Land Tejas is a Houston-based residential master plan community development company. The deal includes 10 communities with 16,000 residential lots and commercial assets. The firm is known for its community amenities including pools and white sand beaches.
“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,” commented Al Brende, owner and co-founder of Land Tejas.