Morton Cypress, Texas
K&S Morton Cypress I, LP – 2006
Project Completed
Partners
Edward Kalikow
David Wallace & Costa Bajjali
Bank
First Continental $2,891,000 (Morton Ranch, Acquisition & Development Loan)
First Continental $12,856,000 (Spring Cypress, Acquisition & Development Loan)
Property Information
Acquire 99.99% partnership interests in two projects, Morton Ranch and Spring Cypress, for the development of approximately 455 residential building lots in the Houston area. The builders for Spring Cypress are Meritage Homes and Gehan Homes. “Primrose School” learning center has opened on one of the two commercial tracts.
Sections 1 & 2: 290 developed lots.
Section 3: 60 lots, currently under construction.
Builders have taken down 59 of these lots.
Equity Raised
$3,200,000
