DYNAMIC COMMUNITIES
Balcara Group develops luxury rental neighborhoods that create an inimitable sense of community for our residents, and lasting value for our investment partners.
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Balcara at Balmoral is located within the award-winning Balmoral Master Planned Community within the Houston MSA. In 2021, Balmoral was the 17th highest selling U.S. Master Plan.
Purchased June 2019 as raw land and capitalized with a private equity partner and 60% LTC bank loan.
Site-planned for 163 single-family detached rental homes and a community lodge.
The typical lots are 36’ x 80’; with four floor plans ranging in size from a 1,122 sf, 2/2/Study to a 1,530 3/2.5.
Residents are zoned to highly rated schools in the adjacent The Groves Master Planned Community.
After Balcara completed land development, vertical construction commenced in September 2020 and was completed in August 2021.
Initial tenancy was March 1, 2021; project 100% leased by August 2021 at above pro-forma rents.
Status: Exited September 2021
HOUSTON, TX
TAMPA, FL
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Balcara at Epperson is located in the rapidly growing community of Wesley Chapel within the Tampa MSA. In 2022, Epperson was the 12th highest-selling Master Planned Community in the country.
In February 2020, Balcara Group entered into a contract to purchase 174 finished townhome lots in the Epperson Master Planned Community.
Balcara and a private equity partner acquired the lots in December 2021 and immediately commenced construction of the townhomes.
Development was financed with a 60% LTC bank loan from a repeat lender.
In April 2022, the venture contracted to sell the homes on a rolling basis as each building was completed. The initial closings occurred in July 2022 with final closing in February 2024.
Status: Exited February 2024
HOUSTON, TX
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Meridiana is located just off HWY 288 on Meridiana Parkway, ten minutes from Pearland Town Center, with easy access north to Texas Medical Center and downtown Houston. The MPC was the 36th highest selling Master Planned Community in the country in 2023.
Site has excellent visibility at front of Master Plan and adjacent to brand-new retail.
Land was acquired in September 2021.
Project is capitalized with a repeat private equity partner and a 62% LTC bank loan.
Homebuilding of 114 luxury paired villas started in June 2023 after Balcara completed land development.
The project features on site amenities including a Balcara Lodge and swimming pool.
Excellent schools all within Meridiana Master Plan.
Status: Lease-Up
Website: balcarameridiana.com
TAMPA, FL
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Balcara 301 at Sun City is located in Hillsborough County community of Wimauma just east of Sun City Center in the Tampa MSA. This development is adjacent to the Southshore Bay Master Plan.
Balcara entered into a contract in Q1 2023 to acquire 120 completed townhomes and amenities. The initial acquisition occurred in May 2023, with final closing expected in June 2024.
Balcara 301 Sun City features on-site amenities including a pool, dog park, and playground.
The project represents a continuation of strong relationships between Balcara and the national home builder constructing the homes.
The project has great frontage and is in a highly trafficked area that includes nearby retailers such as Walmart, Publix, Aldi, and Wawa.
Status: Lease-Up
Website: balcara301.com
TAMPA, FL
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Balcara at Southshore Bay is located in the Hillsborough County community of Wimauma. This South Tampa community is well-diversified in terms of economic activities and employers and is conveniently situated midway between Tampa and Sarasota.
Balcara is under contract to acquire 196 finished townhome lots on a to-be-developed tract of land within Phase 5 of Southshore Bay, with purchase expected in Q4 2024.
Southshore Bay is a resort style highly amenitized Master Planned Community. In 2022, Southshore Bay was the 48th highest-selling MPC in the country.
Southshore Bay will include over 1,200 lots of for-sale residences. Builders in the community include Lennar and DR Horton.
Status: Land Development