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. Massey Oaks will be located at the intersection of Harkey Road and McKeever Road, just south of 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.
Details on the community were featured in a story published in a series of publications. Click the following links to see coverage:
The Houston Chronicle
Houston Business Journal
Institute for Real Estate Operating Companies (IREI)
Texas A&M Texas Real Estate Research Center, RECON