PAYSON, AZ--(Marketwired - Feb 4, 2014) - The True Life Companies (TTLC) has just closed escrow on Timber Ridge, 26.8 acres of land planned for residential development in Payson, Arizona, approximately 90 miles from the Phoenix metropolitan area in the northern portion of Gila County. Situated at the foot of the famous Mogollon Rim, this prime real estate is located at an elevation of 5,000 feet above sea level, which creates a mild, four-season climate that attracts a strong primary housing market, year-round visitors and second home buyers, many from Phoenix and Tucson.
"This is an excellent example of a premier site in an infill location that meets the definitive characteristics we require for our land investments," stated Taber Anderson, Chief Investment Officer of The True Life Companies. "The property is close to major transportation corridors, a growing major metro, Phoenix, and is one of the few remaining infill real estate development opportunities in the area. The supply of new housing, both for sale and rental in the area is extremely limited so the property is well positioned to meet the demand not only from the growing local market but also from those seeking mild weather second home opportunities coming from the nearby metro markets of Tucson and Phoenix."
"The acquisition of Timber Ridge accelerates the growth of our company's overall investment portfolio," stated Scott Clark CEO of The True Life Companies. "We have built our current portfolio to over 7,000 lots in just eighteen months and we are dedicated to advancing that number and continuing to expand our growth over the next 12 months. Parcels like Timber Ridge are a profound focus for our team as we work on the acquisition and disposition of land and lots for America's top homebuilders."
Dave Sabow, based in the company's Phoenix headquarters, is responsible for managing the asset going forward. "Dave was instrumental in this acquisition and understands all facets of the property. Formerly the Broker with Land Group Real Estate in Phoenix, Dave has been responsible for managing and developing thousands of residential properties and particularly master planned communities. His knowledge and background expertly qualify him to thoughtfully and creatively manage this asset into the future," stated Anderson.
TTLC also develops and manages private recreational master-planned communities in key Western U.S. markets. The company's resort real estate portfolio also includes Pine Canyon Club in Flagstaff, Arizona, a highly amenitized private golf club community, and Talking Rock Ranch, just outside historic Prescott, Arizona, also complemented by a private golf club and 18-hole golf course.
As a major supplier of lots and land to America's top home builders, TTLC has projects in various stages of planning and development throughout California, Colorado, Arizona, and Hawaii, and is based in San Ramon, Calif., with regional offices in Phoenix, AZ; Denver, CO; Newport Beach, CA; Kona, HI; and Salt Lake City, UT.
TTLC is a strategic real estate investment and management firm composed of top-tier professionals with over 250 years of combined industry experience in acquisitions, development, management and homebuilding. For more information regarding TTLC's land acquisition or recreational master-plan portfolio visit www.TheTrueLifeCompanies.com or visit www.facebook.com/thetruelifecompanies.
- Commodity Markets
- Real Estate
- Phoenix metropolitan area
- Timber Ridge