Transaction Details

Par Amount:

$55,831,923

Interest Rate:

6.125%

Closing Date:

12/04/2024

Debt Structure:

Capital Appreciation Bonds

Pledged Revenue:

Proceeds from the sale of bonds from the Alpha Ranch WCID

Use of Proceeds:

Reimbursement and funding of eligible public improvements
Aerial of Alpha ranch project

Alpha Ranch

Denton & Wise Counties

  • Alpha Ranch is a 1,991 acre mixed-use master-planned community located within the City of Fort Worth, Texas, approximately 43 miles northwest of Dallas. Alpha Ranch is entirely located within Alpha Ranch Water Control and Improvement district.
  • The project is being developed by Centurion American in partnership with Scarborough Lane Development.
  • At full build out, Alpha Ranch is anticipated to include 4,434 single-family residential units, 800 units of multi-family, 33 acres of commercial, and various community amenities.
  • At the time of issuance:
    • 39% of the residential lots were contracted, and 0% of the multi-family and commercial were contracted.
    • $7.2Min reimbursable expenses are currently outstanding and owed to the developer, out of a total reimbursable budget of $200M.