Houston, July 16, 2025 (GLOBE NEWSWIRE) — The Texas Infrastructure Program (TIP), a team of consultants that work with developers to leverage their future MUD reimbursements, announced the closing of five transactions throughout the last 3 months. TIP transactions such as these provide developers with non-recourse, early-stage financing that helps fund the construction of public infrastructure projects in new communities across the state. Gaining momentum with 10 successful closings thus far in 2025, TIP continues to innovate in this market by partnering with developers to push the envelope of what’s possible with this tool.
“The TIP team is the most experienced in the state of Texas, having successfully completed several transactions in every major metropolitan area,” says Michael Libera, Managing Director at SAMCO Capital Markets. “These five most recent financings not only highlight our efficient process and experienced team but further showcase our ability to collaborate with clients to meet their unique, project specific goals and timelines.”
Financing Highlights
Briarwood and Park Place, two new community developments located east of Austin in the City of Elgin, were completed in a single pooled TIP transaction. Briarwood, a 205-acre community, will include over 900 homes, 6 acres of commercial development, over 33 acres of parks and open space, and a 2.7-acre lakefront amenity center. Park Place, a 76-acre mixed-use development, will offer 234 townhomes, 300 multi-family units, a 37-acre park, and an 18-hole disc golf course. This pooled transaction totaled $17.5 million and was secured in partnership with Ashton Gray Development.
Northspur, located east of Dallas in the City of Terrell, is a 700-acre primarily residential development with plans for over 1,500 homes, an amenity center, and a 121-acre nature preserve. The project will also include 300-acres of commercial and industrial development. The $29 million transaction was secured in partnership with Starwood Land.
Sterling Traditions, located northeast of Houston near the City of Dayton, is a 475-acre residential community anticipated to include over 1,800 homes, and an amenity center with a community pool and pickleball courts. The $37.7 million transaction was secured in partnership with Sterling Traditions LLC. It represents one of the earliest stage financings to date, demonstrating TIP’s commitment to developing early-stage, innovative financing structures for the Texas development community.
Campo Del Sol, located in El Paso, Texas, is the first ever MUD receivable financing in this region. At full build out, the community will cover nearly 3,000-acres and include 7,000 homes in addition to multifamily and commercial. The first four phases, which this transaction leveraged, includes over 2,000 homes, a 4.5-acre amenity center as well as a lazy river. The $31.9 million transaction was secured in partnership with Scarborough Lane Development.
Milo Farms, located southwest of Houston near Needville in Fort Bend County, is a 413-acre development with plans for over 1,200 homes, two amenity centers, parks, open space, and commercial development. The $30.2 million transaction was secured in partnership with Rooted Development, and also reflects one of the earliest stage financings to date.
“We are proud of the impact TIP is having on Texas,” says Mike Ryan, Managing Director at Piper Sandler. “It’s a new source of capital to help developers and homebuilders meet the continued demand for housing across the state. These recent closings highlight our commitment to continued innovation that meets the needs of our clients and helps create desirable places for Texans to live.”
This announcement comes on the heels of TIP successfully completing a $196 million revenue anticipation improvement and refunding transaction for Starwood Land in March of this year. The Starwood transaction marked the first ever refinancing, further emphasizing the team’s ability to innovate, as well as its process and experience. At the time of financing, it was the largest Municipal Utility District (MUD) receivable transaction to date, and benefited Starwood Land’s communities of Cypress Green, Lago Mar, Sierra Vista, and Sunterra, which is the best-selling community in Texas.
Since its inception, TIP has closed the largest number of MUD receivable transactions, working with over 40 communities across the state benefiting over 70,000 homes. These transactions have collectively raised over $1.2B to invest in improvements for Texas’ infrastructure, providing attainable housing and supporting sustainable community growth. For more information, visit Tipbond.com.
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About Texas Infrastructure Program
Texas Infrastructure Program (TIP) champions innovative, tax-exempt financing solutions to empower Texas’ infrastructure development. With a commitment to efficiency, transparency, and community growth, TIP is paving the way for sustainable projects that enhance the quality of life across Texas communities. For the latest news and updates, go to Tipbond.com and follow us on LinkedIn.
About SAMCO Capital Markets
SAMCO Capital Markets (SAMCO) is a leading underwriter and trader of municipal bonds in Texas and across the nation. SAMCO is privately held, an employee-owned broker/dealer specializing in public finance, (underwriting, sales & trading, and financial advisory services), high yield sales & trading, and investment banking. Founded in 1987, SAMCO combines depth of experience and the highest integrity.
About Piper Sandler
Piper Sandler Companies is a leading investment bank and asset management firm. With a commitment to providing innovative solutions to its clients, Piper Sandler works across a wide range of industries, including real estate, infrastructure, and municipal finance. The firm has a proven track record of structuring complex transactions that address the evolving needs of communities and developers alike.
