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Oakwood Estates & Stonebrooke Projects

Houston MSA, Texas

This financing included a pooled issuance for two of Ashton Gray Development’s projects, Oakwood Estates and Stonebrooke, both located in the Houston MSA. Oakwood Estates is a 183-acre mixed-use master-planned community located within the City of Waller and entirely within Harris-Waller County Municipal Utility District No. 12. At full build-out, Oakwood Estates will include 548 single-family residential units, 10 acres of multi-family, and various community amenities. Stonebrooke is a 62-acre residential community located in Montgomery County and entirely within Montgomery County Municipal Utility District No. 212. At full build-out, Stonebrooke will include 269 single-family residential units, a playground, park, and green space.

Par Amount

$16,330,242

Coupon

6.000%

Closing Date

12/19/2024

Debt Structure

Capital Appreciation Bonds

Pledged Revenue

Proceeds from the sale of bonds from Harris-Waller County Municipal Utility District No. 12 & Montgomery County Municipal Utility District No. 212

Use of Proceeds

Reimbursement of eligible public improvements

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