Starwood Capital Group Acquires Majority Interest in Houston-based Land Tejas

Rhea-AI Summary

Starwood Capital Group has acquired a majority interest in Land Tejas, a Houston-based residential developer, enhancing its real estate portfolio. This acquisition includes 10 communities with 16,000 residential lots, targeting entry-level and move-up buyers in a high-demand market. CEO Mike Moser emphasized the strategic importance of this investment as it aligns with Starwood's focus on risk-reward ventures in the single-family housing sector. Starwood Capital, managing over $105 billion in assets, aims to leverage this opportunity for growth under Starwood Land Advisors.

Positive

• Acquisition of 10 communities strengthens Starwood's portfolio in Houston market.
• Targets entry-level and move-up segments, aligning with buyer demand.
• Strategic investment in a high-growth residential sector, enhancing growth potential.

Negative

• None.

MIAMI, Dec. 29, 2021 /PRNewswire/ -- Starwood Capital Group, a global private investment firm focused on real estate and energy investments, announced today that a controlled affiliate has acquired a majority interest in the assets owned by Land Tejas, a Houston-based residential development company 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.  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 built by a first-class developer in a leading growth market," said Mike Moser, CEO of Starwood Land Advisors. "These communities are located in desirable submarkets and offer affordable price points that target the entry-level and move-up segments where there is the greatest buyer demand."  

"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.

Anthony Murphy, Vice President at Starwood Capital, said, "The acquisition of Land Tejas fits Starwood's strategy of strong risk reward investments and presents a unique opportunity to capitalize on the compelling fundamentals of the single-family housing sector. We are excited to grow the business further under the leadership of our team at Starwood Land Advisors."

About Starwood Capital Group

Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 16 offices in seven countries around the world, and currently have approximately 4,000 employees. Since its inception in 1991, Starwood Capital Group has raised over $65 billion of capital, and currently has over $105 billion of assets under management. Through a series of comingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $76 billion of capital since inception and manages a portfolio of over $21 billion across debt and equity investments. Over the past 30 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.

Media Contact:

Tom Johnson / Dan Scorpio
Abernathy MacGregor
(212) 371-5999
tbj@abmac.com / dps@abmac.com

View original content:https://www.prnewswire.com/news-releases/starwood-capital-group-acquires-majority-interest-in-houston-based-land-tejas-301451396.html

SOURCE Starwood Real Estate Income Trust, Inc.

FAQ

What communities are included in the Starwood Capital acquisition of Land Tejas?

The acquisition includes 10 communities and nearly 16,000 residential lots.

When was the Land Tejas acquisition announced by Starwood Capital?

The acquisition was announced on December 29, 2021.

How does the acquisition of Land Tejas impact Starwood Capital's strategy?

It aligns with Starwood's focus on strong risk-reward investments in the single-family housing sector.

What is the expected outcome of the acquisition for Land Tejas?

Land Tejas aims to simplify its balance sheet and enhance growth potential through this partnership.

What financial metrics does Starwood Capital manage?

Starwood Capital manages over $105 billion in assets and has deployed over $76 billion since inception.