Starwood Land
Sunterra Lakes
Transaction Details
Project Name
Sunterra Lakes
Developer
Starwood Land
Bond Type
Capital Appreciation Bond
Reserve Fund
N/A
Yield
6.625%
Coupon Rate
6.625%
Total Par Amount
$98.5 MM
Net Proceeds
$95.0 MM
Maturity Date
12/15/2034
Impact Summary & Project Overview
Sunterra Lakes is a 1,455-acre master-planned community by Starwood Land located six miles northwest of Katy, Texas. The community will feature 4,233 residential lots, 35.4 acres of commercial development, and resort-style amenities including a recreation center, lazy river, pool, and outdoor sports facilities. Building on the success of its sister community Sunterra—Texas’s top-selling MPC for three consecutive years—Sunterra Lakes brings the same proven quality to the region with eight distinguished homebuilders.
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