Transaction Details

Par Amount:

$60,150,597

Interest Rate:

6.125%

Closing Date:

10/10/2024

Debt Structure:

Capital Appreciation Bonds

Pledged Revenue:

Proceeds from the sale of bonds Montgomery County MUD Nos. 123 & 153

Use of Proceeds:

Funding of eligible public improvements
Two Step Farm amenity

Two Step Farm

Montgomery County

  • Two Step Farm is a 511-acre mixed-use master-planned community located within Montgomery County, Texas, approximately 47 miles northwest of Houston. Two Step Farm is entirely located within Montgomery County Municipal Utility Districts Nos. 123 & 153.
  • The project is being developed by Oxland Group, LLC and Jen Partners, LLC.
  • At full build out, Two Step Farm is anticipated to include over 4,000 single-family residential units, 20-acres of commercial, and various community amenities.
  • At the time of issuance:
    • 99% of the single-family lots were contracted with third-party homebuilders.
    • $3.1M in eligible reimbursable expenses had been incurred and were currently outstanding to the Developer.