DALLAS--(Stratford Land has provided a $14 million non-recourse loan to Carlton Holdings to support its development plans for Monterrey Village, a 182-acre mixed-use commercial project in western San Antonio at IH 410 and SH 151. The loan from Stratford Land provides the developer a bridge to commercial development, which includes multi-family, medical, retail and office development.)--
“We are pleased to be able to support this strong sponsor in its plans to get the Monterrey Village development underway in the fast-growing area of west San Antonio, a real estate market where we have become very active.”
Carlton Holdings has owned the land since 2006 and in conjunction with Walt Busby of Central Texas Realty & Development will provide more details as parcels are sold and developed.
Jason Stowe, Stratford Land’s director of lending, Texas, said, “We are pleased to be able to support this strong sponsor in its plans to get the Monterrey Village development underway in the fast-growing area of west San Antonio, a real estate market where we have become very active.”
The Monterrey Village loan is Stratford Land’s first in San Antonio, following recent equity investments in a 111-acre infill, mixed-use parcel named Eisenhauer Point in Windcrest, and a 42-acre commercial site named Culebra at the northeast corner of SH 210 and SH 30. Stratford Land invests in land and provides non-recourse financing for a variety of real estate purposes, including acquisition, refinancing, return of equity and note purchases.
About Stratford Land
Stratford Land announced its investment in Eisenhauer Point/Windcrest in January 2012 and made its investment in Culebra in November 2010. Stratford controls more than 21,000 acres through four private equity funds. Stratford Land’s Fund IV was initiated in 2010 for equity and debt investments in land and for lending.
Stratford Land has more than 25 years of successful land investment history on behalf of institutional investors. Based in Dallas, Texas, the fund focuses on acquiring properties in high-growth corridors in Texas, Arizona, Southern California, Colorado, Tennessee and the eastern seaboard from Virginia to Florida. Offices are currently located in Dallas, Atlanta, Jacksonville and Phoenix. www.stratfordland.com
About Monterrey Village
Monterrey Village is a master planned community development at SH 151 and Loop IH 410 West in San Antonio. It comprises more than 180 acres of commercial and multifamily property extending along SH 151 from Potranco Rd. to the Loop 410 exchange. The property is fully entitled and ready for development and sales to third parties. The site is within a mile of the National Security Agency development and is at the entry to Westover Hills, San Antonio’s most active office development area.
Carlton Holdings, a Virginia-based land development company, owns Monterrey Village in a partnership which has contracted with Central Texas Realty & Development, LLC to continue the development and sales activities on the site. Walt Busby will head the development, planning and sales activity for CTRD. Busby has extensive experience with large master planned communities and is an award winning developer in the San Antonio and Austin areas. CTRD currently has over 750 acres of commercial and multifamily property in development in San Antonio and Carrizo Springs. For information contact Central Texas Realty & Development, LLC at 210-451-0899.