Overview

We purchased 29 acres at the northeast corner of FM 1774 and FM 1486 in March 2021. In 2022 we sold 15 acres to a residential developer. This tract will be positively impacted by the improvement and widening of FM 1774, as well as the completion of the Aggie Expressway (HWY 249) that will continue from Magnolia to College Station. The infrastructure development has been a catalyst for future residential growth and there are now several master-planned communities in proximity to our parcel. Magnolia Woods will be a 5,500-acre community developed by AIRIA, the developer behind ALIANA in Fort Bend County and ARTAVIA in the Conroe area. Several developments visible on the attached Exhibit, including Escondida Ranch, Audubon and others along FM 1774 that are currently under construction, will add thousands of new homes to the area in the next few years.  We sold the remaining acreage in 2023.