Massey Oaks Development Secures Financing for Master-planned Community
A new 356-acre master-planned community in Pearland secured a $44 million loan to develop 372 single-family homes as part of the first phase of the project. Trez Capital issued the loan to Massey Oaks Development for its Massey Oaks master-planned community, which will be developed over four phases and feature 950 single-family homes at completion.
CBA Land Capital provided investment equity for the project. More details on the community were featured in a story published by the Houston Business Journal last week.
Massey Oaks will be located at the intersection of Harkey Road and McKeever Road, just south pf Pearland. The master-planned community is about 4 miles east of State Highway 288 and 3 miles west of State Highway 35. Homes will start in the high-$300,000 range.
Phase one lots are expected to deliver in the first quarter of 2022. Meritage Homes and Castle Rock are currently under contract for the single-family lots in phase one.