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Terms of the deals were not released. Stratford Co. is investing money from a $400 million fund, with Teacher Retiremenr System of Texas as the larges tinstitutional investor. ProTerra has raised $35 millionh from individual investors since the fund was launchee about twoyears ago. The fund stilo has 60 percent availablefor investment. The land is adjacent to 137 acrees ProTerra purchasedin March. The owners now have a totaol of 463 acres for the developmen t of West TenBusiness Park, located on the nortyh side of Interstate 10, about halfwauy between FM 1463 and Pederson Road.
Planws are to bring water and sewer tothe property; the ownerse are also working with the City of Katy and the Texas Department of Transportation to construct Cane Island Parkwagy through the site as well as exit rampse from the freeway. Stratford Co. is the majority with a 64 percent The site is expected to be fully develope d ina year, and ready to be sold to end-userss and developers. The two owners also have anothe project in the workx inEast Houston.
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