Starwood Land Ventures, LLC News
Starwood Land Ventures Partners With Houston Developer; Alliance Aims to Invest $150 Million
SARASOTA, Fla., June 27 PRNewswire — Starwood Land Ventures, LLC has formed a joint venture partnership with Riverway Properties, a Houston-based residential community developer led by John D. Santasiero. Called RiverStar Capital, the newly established alliance expects to invest more than $150 million in Houston residential land acquisition and new project development during the next several years.
"The timing is excellent for this partnership and we have already begun evaluating numerous opportunities in the area," said Mike Moser, East Region President of Starwood Land Ventures. "Riverway Properties is an ideal local partner for Starwood Land Ventures given the longtime expertise and industry experience of its founder, John D. Santasiero."
Santasiero, a 20-year industry veteran of the Houston residential development market, said RiverStar Capital will focus its acquisition efforts on quality projects in premier locations. The joint venture partnership also expects to buy and hold finished homesites, provide equity and loans to other developers, and purchase debt from lenders. RiverStar Capital will initiate its acquisition campaign by investing in Houston markets that have experienced traditionally high levels of growth.
"We expect Houston to continue growing in terms of job creation and population," Santasiero said. "The current pause in the market is creating some excellent buying opportunities and with the financial strength of Starwood Land Ventures behind us, we are well positioned to move quickly and capitalize on this projected growth."
About Riverway Properties
Riverway Properties was founded by Santasiero in 1992. The successful land brokerage and community development firm has developed or invested in numerous Houston projects including: Villaggio, Riverstone Ranch, Mission Sierra, Mission Oaks, Tuscany and several other suburban development projects.
About Starwood Land Ventures, LLC
Starwood Land Ventures, LLC is a Sarasota, Florida-based residential real estate investment firm focused on land acquisition, development and financing nationwide. The firm is a controlled affiliate of Greenwich, CT based Starwood Capital Group Global, LLC. Starwood Land partners with builders, developers, lenders and land holders and will provide creative solutions to recapitalize assets with both debt and equity. The firm also purchases debt and specializes in the acquisition, entitlement and development of large, master-planned communities, which may include mixed-use components. For more information about Starwood Land, visit the website at www.starwoodland.com.
SOURCE Starwood Land Ventures, LLC
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