Transaction Details

Par Amount:

$53,575,000

Interest Rate:

5.500%

Closing Date:

10/29/2024

Debt Structure:

Current Interest Bonds

Pledged Revenue:

Proceeds from the sale of bonds from LaSalle MUD Nos. 1 & 2

Use of Proceeds:

Reimbursement and funding of eligible public improvements
Aerial of Waterstone entryway sign

Waterstone

Hays County

  • Waterstone is a 699-acre primarily residential master planned community located in unincorporated Hays County. The development is entirely located within LaSalle Municipal Utility District Nos. 1 & 2.
  • At full build out, the project will include over 2,000 residential units, approximately 47 acres of industrial, an, elementary school, and various parks and trails.
  • The project is being developed by Waterstone Land Partners.
  • At the time of issuance:
    • 100% of the residential lots have been sold to Lennar, and 100% of the industrial have been sold to Lincoln Property Group.
    • $40.3M in reimbursable expenses had already been incurred, all of which was outstanding at the time of issuance.