ORIX Municipal Finance Purchases $19 Million in High Yield Municipal Development Bonds

ORIX Municipal Finance purchased $19 million of tax-exempt Public Improvement District (“PID”) bonds to finance infrastructure improvements within a real estate Development.  Development consists of single- and multi-family residential, office and retail.  The bonds are secured by property taxes levied on real estate within the district.  The development is a 2,600-acre master planned community located in North Dallas, Texas, with new single-family homes, townhomes, and estate homes from the mid-$300,000s to $3 million and up.  It is the fourth largest residential development in North Texas and one of the largest in the nation.

Located in the heart of the development is the Village Shops and Plaza which combines retail, office and townhome living, and a full-service country club with an 18-hole, 7,315-yard championship golf course.  Utilization of the PID structure to finance public infrastructure is increasing in Texas, and ORIX Municipal Finance is actively seeking new investments.