Bold Fox Development has again facilitated the issuance of Texas MUD Forward Funding Launch Bonds™ to fund nearly $40 million for additional phases in two developments — Attwater in Waller and La Segarra in Brookshire.
Favored by large developers, the Texas MUD Forward Funding Launch Bond™ is a financing concept led by Launch Development Finance Advisors that provides developers with funds for upfront infrastructure costs in anticipation of future municipal utility district (MUD) reimbursements. Companies such as Starwood Land and Ember Development have used Launch Bonds to fund projects throughout Houston.
This is the second time Bold Fox Development has employed this type of bond, funding development of Attwater last year through a $19.5 million launch bond.
“Our first launch bond was highly anticipated by investors who were willing to purchase $25 million worth of bonds,” said Alex Kamkar, Managing Shareholder of Bold Fox Development. “The Attwater bond was successfully accepted and funded by the public markets. We expect this next round to see similar success.”
Kamkar said this type of sophisticated funding reduces their cost of capital to maximize returns for partners and investors. The Attwater bond is for $19,588,813 and the bond for La Segarra is $19,401,334.
Builders Chesmar Homes, Empire Homes and Brohn Homes (formerly HistoryMaker Homes) started home sales in Attwater last year after partnering with Bold Fox Development to acquire the 470-acre community in 2021. Planned for 1,200 homes, the community is located along Highway 290, FM 362 and Owens Road in Waller. Pricing is from the low $300,000s.
Homes sales in La Segarra, located along Gassner Road and FM 362 in Brookshire, also began last year. Builders Cyrene Homes, Smith Douglas Homes and Tricoast Homes offers floor plans from the mid $200,000s in the 215-acre community.
