HOUSTON – November 7, 2019 – CBA Land Capital announced today that CBA Strategic Fund LP acquired 70 acres of undeveloped land in the Lago Mar community under a long-term land bank agreement with developer Land Tejas. The acquisition is the first in a series for CBA Strategic Fund I LP.
Lago Mar is a 2,033-acre master-planned community in Texas City, located in the rapidly growing Galveston-Clear Lake corridor. The acquired land is slated for future development of single-family homes. At completion, Lago Mar will have approximately 4,000 homes.
“This is the first closing for the land banking fund recently rolled out under the name CBA Strategic Fund I,” said Paul Connor, Principal and Founder of CBA Capital. “This property is the next natural extension of the already successful development Land Tejas has done in Lago Mar.”
CBA Land Capital focuses on lot banking and land banking opportunities to support growth for developers and homebuilders navigating today’s lending environment. The requirements for a traditional financing structure can stretch capital resources and balance sheet to its limits. However, securing and maintaining positions in the market, whether land or lots, is crucial to continued growth. CBA Land Capital is a non-traditional lender and offers a structure to alleviate capital and resource strains.
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 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.