ORIX USA’s Infrastructure and Public Finance team has completed a $15 million MMD receivables purchase within The Trails master-planned community in New Caney, Texas, developed by Castle Hill Partners. At full build-out, The Trails, a 2,774-acre community, is expected to include 1,980 homes, 300 apartments, and complementary retail.
ORIX USA and Castle Hill Partners worked closely to structure the MMD receivables, which represent the District’s obligation to reimburse the developer for infrastructure costs including roads and stormwater drainage and detention systems, which are necessary to make the development possible.