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Source: Land Tejas

Moser adds:

Land Tejas is a seasoned operator, with a bevy of the best builders in the country, and they know how to stand out on the entitlement, engineering, amenities, entry-scape, hardscape, and the placemaking. The entire Land Tejas team will stay on and they’ll keep an ownership interest in these communities.”

With the Starwood infusion, Land Tejas effectively clears itself of leverage in the $100s of millions, and can now tap equity to supercharge its growth strategy, and if it later wants to, can re-tap the institutional debt markets from a more powerful enterprise level capital position. The Starwood-Land Tejas combination evolved out of an introduction Margaret Whelan, founder and ceo of boutique investment bank Whelan Advisory Capital Markets, made three years ago.

As the press statement notes:

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.

Moser makes note of the fact that Starwood’s entering a Land Tejas business arc that is in a “mature” zone of current community development cycles.

The engineering, development of the lots are all on the ground, and 6,000 of these lots are under contract to builders right now,” says Moser. “We want to help them get across the finish line with these communities at a moment Houston stands out as both affordable and desirable, and with the new resources, we can add landscape, hardscape, and embellish some of the amenities to help generate the highest value possible.”

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