Starwood Land Acquires One of Houston’s Largest Developers
Starwood Land and its equity capital partner Starwood Capital Group, have acquired a majority interest in the assets owned by Land Tejas, a Houston-based residential developer with a more than 20-year history of creating exceptional lifestyle communities.
Land Tejas, founded in 1997, is one of the largest master planned community developers in Houston, where the housing market continues to benefit from record low inventory and high demand. The acquisition encompasses 10 communities, many in the late stages of development, with nearly 16,000 residential lots and numerous commercial assets valued at $425 million. Land Tejas has become renowned for its extraordinary community amenities that include Crystal Lagoon pools spanning multiple acres with white sand beaches.
“This transaction represents a tremendous opportunity to acquire a high-quality portfolio of mature residential communities and partner with a first-class developer in a leading growth market,” said Mike Moser, CEO of Starwood Land.