Porter Hedges Represents International Bank of Commerce in the Financing of Four Master-Planned Communities in Central and North Texas
Porter Hedges represented International Bank of Commerce as the lender in a recent series of transactions for the financing of four master-planned communities developed by Centurion American Development Group (“Centurion American”).
- The Villages at Hurricane Creek (borrower MM Anna 325, LLC): A multi-phase mixed-use development outside of Anna, TX that will ultimately include green space, creeks, ponds, trails, signature water feature, open space, lookouts and park areas along with restaurants, retail and a hotel.
- Thunder Rock (borrower MM Marble Falls 1070, LLC): A 1,073-acre mixed-use development near Austin that would be built over eight phases that will ultimately consist of 75,000 square feet of commercial space, a 26.3-acre sports complex, and 1,966 homes upon completion of all eight phases.
- Spiritas Ranch (borrower MM Little Elm 548, LLC): A mixed-use development that will encompass just over 2,100 new single-family homes in Little Elm, TX.
- Cartwright Ranch (borrower MM Cartwright Ranch, LLC): A 1,350 acre mixed-use development in Crandall, TX which will ultimately develop approximately 4,000 homes; this land acquisition was one of the largest transactions in the Dallas-Ft. Worth area in 2020.
Since 1990, Centurion American has facilitated construction and development for well over 100,000 single-family lots in more than 300 premier communities around North Texas.
International Bank of Commerce was founded in 1966 to meet the needs of small businesses in Laredo, Texas. Today, it serves as the flagship bank of International Bancshares Corporation, with 186 facilities and 280 ATMs serving approximately 87 communities.