Preston Hollow Community Capital and Kent Farms Holding Company Announce Purchase and Sale Agreement with D.R. Horton for 45 Townhomes at The Arbors at Farms of New Kent

Kent Farms Holding Company (“KFHC”), the developer and property owner, Preston Hollow Community Capital (“PHCC”), the capital provider, and D.R. Horton, Inc. (“D.R. Horton”), the purchaser, are pleased to announce the execution of a purchase and sale agreement for 45 townhomes to be built by D.R. Horton at The Arbors within the Farms of New Kent community. Site development is expected to begin in the coming months, pending final permitting approvals. Townhome sales are anticipated to launch in Q4 2026.

Farms of New Kent is a master-planned community encompassing approximately 2,113 acres in New Kent County, Virginia. Ideally located just north of Interstate I-64 and twelve miles east of Interstate I-295, the community sits approximately thirty miles east of downtown Richmond and twenty-five miles west of Colonial Williamsburg. This mixed-use development features a wide range of residential options, commercial and retail components, and several recreational amenities, including a working vineyard and winery, a country inn, and an 18-hole golf course.

D.R. Horton’s new townhomes at Farms of New Kent will provide homebuyers with a unique blend of high-quality craftsmanship and contemporary design. The community will feature a variety of thoughtfully designed floor plans offering between 3 to 4 bedrooms, 2 to 3 bathrooms, and approximately 1,600 to 2,100 square feet of living space.

“Situated in the heart of the Farms of New Kent community with close proximity to the emerging commercial areas under construction and access to the amenities at The Arbors, this new residential offering provides a rare opportunity for buyers seeking new construction, modern layouts, and convenient, low-maintenance living,” said Brian Rowe, Division Vice President of D.R. Horton – Southern Virginia.

Ramiro Albarran, Co-Head of Originations at Preston Hollow Community Capital, shared his enthusiasm: “We are thrilled to expand upon our relationship with Brian Rowe and D.R. Horton. Brian and his team continue to meet and exceed our expectations as a true strategic partner in New Kent. D.R. Horton has been a terrific homebuilder at The Arbors, playing a key role in transforming the neighborhood into one of the region’s top-selling communities. This sale represents an important step in addressing the area’s housing needs, driven by strong job growth in New Kent County. We remain committed to supporting the County’s efforts and are exploring the potential for substantially increased residential offerings in Land Bay IV of the Farms of New Kent project to meet the growing demand.”

Rodney Hathaway, New Kent County Administrator, added: “We’re seeing increasing demand from national employers for developable land within the County, as demonstrated by Target’s recent purchase just south of the Farms of New Kent. Target plans to build a 1.4 million-square-foot distribution center, adding to our newly opened AutoZone distribution facility. It’s clear that New Kent County continues to be a prime destination for large-scale investment and job creation. Development efforts at Farms of New Kent are helping to provide the housing needed to support our growing workforce and future employers.”

PRESTON HOLLOW COMMUNITY CAPITAL OVERVIEW

Preston Hollow Community Capital is a market leader in providing specialized impact finance solutions for projects of significant social and economic importance to local communities in the United States. The Company originates, owns, and manages a diversified portfolio of bespoke municipal finance transactions. PHCC has invested over $5.0 billion since its inception across various sectors of the municipal bond market, including real estate, K-12 and higher education, healthcare, infrastructure, hospitality, general government, and economic development.

Since its inception, PHCC has raised $1.6 billion in committed, permanent equity capital from premier sponsors and investors like Stone Point Capital, HarbourVest Partners, and TIAA. The Company has received long-term BBB (Stable) and short-term K2 (Stable) ratings from Kroll Bond Rating Agency. Visit www.phccap.com for more information.

ABOUT D.R. HORTON

D.R. Horton, Inc., America’s Builder, has been the largest homebuilder by volume in the United States since 2002 and has closed more than 1,100,000 homes in its 46-year history. D.R. Horton has operations in 125 markets in 36 states across the United States and is engaged in the construction and sale of high-quality homes through its diverse product portfolio with sales prices generally ranging from $200,000 to over $1,000,000. The Company also constructs and sells both single-family and multi-family rental properties. During its fiscal year ended September 30, 2024, D.R. Horton closed 89,690 homes in its homebuilding operations, in addition to 3,970 single-family rental homes and 2,202 multi-family rental units in its rental operations. D.R. Horton also provides mortgage financing, title services and insurance agency services for its homebuyers and is the majority-owner of Forestar Group Inc., a publicly traded national residential lot development company.

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"This sale represents an important step in addressing the area’s housing needs, driven by strong job growth in New Kent County" - Ramiro Albarran, PHCC