Walton executes agreement with u.s. public homebuilder on 78-acre pre-development land project in hays county, texas
Press Release, 2020/06/26
In May 2020, landowners voted to approve the sale of a pre-development land parcel located in Hays County, TX. The purchaser, a publicly traded U.S. homebuilder, has executed an option agreement whereby this Anderson property will be transacted in two phases, with cash distributions anticipated to be made to land investors beginning in 2021 until 2027.
According to the terms of the option agreement, the purchaser will continue working with the County to obtain final development approvals for its proposed single-family residential master-planned community of 440 lots.
“Despite the challenging environment many regions have seen during COVID-19, we have continued to see strong home sales and land transactions closing in the Austin market,” said Jason Cooper, General Manager (Austin & Houston) for Walton Global Holdings, Ltd. “We are excited to be selling this land to a homebuilder who will provide affordable housing options in the rising Austin housing market.”
Walton’s recent acquisition of Lake Ridge Parkway, a 400-acre property in Dallas-Fort Worth, Texas, provides investors with the latest exit-focused pre-development land opportunity. Working with another national homebuilder, Lake Ridge Parkway is targeted to be developed as a single-family residential master-planned community adjacent to surrounding existing residences and amenities. The expected procurement of the property and identified future exit partner demonstrate part of the exit strategy, with anticipated returns delivered to investors in the next 8 years.