SAN RAMON, CA--(Marketwired - Jan 7, 2014) - Real estate continues to gain momentum in major metro markets across the country with sales and prices continuing their positive rise. Foreseeing this trend since 2009, The True Life Companies (TTLC) has positioned itself for success with a keen focus on acquiring prime real estate in targeted metro areas where they can fulfill the accelerating demand experienced by both home builders and retail consumers.
That demand has been heightened by several positive indicators, according to recent data provided by S&P Dow Jones for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showing that the 10-City and 20-City Composites posted year-over-year gains of 13.6%, the highest gain since February 2006. The West continues to lead the housing recovery with top rankings in: San Francisco at 24.6%, Los Angeles at 22.2%, and San Diego at 19.7%, followed by Phoenix at 19%. Denver, another key market for TTLC in the top 20, is also looking strong at 9.5%.
Anticipating those trends, over the past 18 months, TTLC has aggressively cultivated prime residential land opportunities offering premier locations for homebuilders intent on satisfying the increasing demand in key metro markets in the Western U.S. Since their most aggressive push began 18 months ago, TTLC has now grown their portfolio to over 7,000 lots sited on more than 8,000 acres. To continue its robust acquisition strategy, the company is working with private equity sources raising additional capital as it works to build their operation as the premier provider of lots and land to America's top homebuilders.
In the realm of residential development opportunities, the company is targeting raw land and partially entitled land and lots, all of which can be developed into final mapped or platted lots, or finished lots ready for "just in time" delivery to home builders. The latest example of their success is Rancho Vistoso, a partially completed master plan in Oro Valley (NW Tucson), Arizona. The company acquired the majority of the final acreage available for development within the master plan, just under 200 acres, in August of 2012 and sold 123 acres of this prime infill residential property to Maracay Homes (Weyerhauser) in October 2013. This property is considered one of the best homebuilding opportunities in the region and attracted numerous offers from builders upon the initial acquisition by TTLC. "The sale to Maracay Homes is an excellent example of how TTLC has become a strong and important supplier of land to a major home builder. Both TTLC and Maracay worked in concert to create a thoughtful acquisition structure for Maracay and jointly entitle the property to set the stage for what will be one of the area's most exciting and creative new communities," stated Taber Anderson, Chief Investment Officer of TTLC.
"The leadership team at The True Life Companies has created a fully integrated business platform that is perfectly positioned to take advantage of the tremendous opportunity that exists today in the residential land acquisition, entitlement and development field," stated Scott Clark, CEO of TTLC. "We have a talented team of experienced professionals, an existing portfolio of properties acquired on very attractive terms, and a robust pipeline of new opportunities in escrow or under contract. Those advantages make The True Life Companies an ideal strategic partner for capital or investment firms seeking optimum ROI while gaining prime access to the single-family residential sector of the real estate industry."
TTLC has also established Verravita Capital, a privately held capital investment company focused on providing a solid platform of consistent capital to support its expanding real estate investment and development activities. Verravita Capital is dedicated to providing capital resources in alignment with investment and development firms whose core focus is to be the leading supplier of lots and land for home builders within the single-family residential sector of the real estate industry throughout the western United States.
With several projects in various stages of development throughout California, Colorado, Arizona, and Hawaii, TTLC is based in San Ramon, California, with regional offices in Phoenix, AZ; Denver, CO; Newport Beach, CA; Kona, HI; and Salt Lake City, UT. The company also operates a growing luxury resort lifestyle division dedicated to the acquisition, development and management of private recreational master-planned communities in key markets of the Western United States.
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. This cohesive team of experts focuses on optimizing value, employing replicable, scalable business models through innovative acquisition and management strategies. For more information regarding TTLC's land acquisition or recreational master-plan portfolio visit www.TheTrueLifeCompanies.com or visit www.facebook.com/thetruelifecompanies.
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