DENVER--(BUSINESS WIRE)--Aug 27, 2024--
The True Life Companies (TTLC), with its subsidiaries (The True Life Companies Elite Fund I, LP, The True Life Companies Elite Fund II, LLC and The True Life Companies Elite Fund III, LLC, “The Funds”), recently announced the sale of its Redlands parcel, Texas Street (Project), to Tri Pointe Homes. The 13-acre site, located in Redlands with views of the San Gabriel mountains, is approved for 35 single-family detached homes on lots averaging 7,200 square feet.
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The 13-acre site, sold to Tri Pointe Homes, is located in Redlands with views of the San Gabriel mountains, is approved for 35 single-family detached homes on lots averaging 7,200 square feet. The project site is just five miles away from the renowned University of Redlands and is located within the top-ranked Redlands Unified School District. Downtown Redlands, which features a thriving dining and retail scene, is three miles away. The City of Redlands is also attractive for its local entertainment options, including performing arts theaters, amphitheaters, museums, golf courses, a family-friendly water park, and a 36-acre sports complex. Outdoor features offer nature preserves, nearly 30 miles of hiking, equestrian trails, bike paths, and more. Loma Linda Hospital, one of the top medical facilities in the country, is also located here. (Graphic: Business Wire)
“The City of Redlands is one of the most desirable locations in the region, with excellent opportunities for recreation, a range of cultural amenities, and highly rated schools,” said Gordon Jones, TTLC Regional Vice President, Bay Area and Southern California. “We are incredibly pleased to partner with Tri Pointe Homes to help meet the demand for housing in this sought-after area.”
The project site is just five miles away from the renowned University of Redlands and is located within the top-ranked Redlands Unified School District. Downtown Redlands, which features a thriving dining and retail scene, is three miles away. The City of Redlands is also attractive for its local entertainment options, including performing arts theaters, amphitheaters, museums, golf courses, a family-friendly water park, and a 36-acre sports complex. Outdoor features offer nature preserves, nearly 30 miles of hiking, equestrian trails, bike paths, and more. Loma Linda Hospital, one of the top medical facilities in the country, is also located here.
“We believe Redlands is a premier location to bring opportunities for attainable housing, and we’re pleased to be able to contribute with solutions to help make it a reality,” said Scott Clark, Chairman and CEO of TTLC.
The Texas Street parcel is one of six property sales under TTLC’s portfolio this year. The transaction represents yet another successful effort in realizing attainable housing to meet the goals of TTLC’s partners and the needs of cities and their residents.
To date, The Funds have invested capital into as many as 40 properties in some of the nation’s most highly constrained housing markets. TTLC or a designated affiliate will seek to complete the required approvals and then sell a shovel-ready property, or assign the purchase and sale agreement, to a well-capitalized homebuilder for their construction and sales pipeline.
Visit www.TheTrueLifeCompanies.com to learn more about TTLC and its current property portfolio.
For additional information about The Funds, contact TTLC at 720.210.9970.
About The True Life Companies
The True Life Companies (TTLC) is composed of a team of seasoned residential real estate professionals who work together with property owners, municipalities, and local stakeholders to address the need for critically needed attainable housing solutions in its metro regions. TTLC seeks to establish suburban and urban housing options that are the result of insightful research, innovative planning, and creative collaboration. The firm’s top priorities include the entitlement and selling of residential properties to builders, with the goal of creating more attainable housing.
TTLC’s group of companies includes three distinct divisions, each strategically integrated to directly support the firm’s core initiatives: Homes Built for America (HBFA), which focuses on building and selling select properties in well-planned communities; TTLC Development Inc., which focuses on land development and facilitates the delivery of finished lots to homebuilders in their respective markets; and Brighton-Coulson, a Bay Area-based general contractor which manages purchasing, construction, and warranty for a range of homebuilding firms.
TTLC is headquartered in Denver, Colorado, with its family of companies and offices located in Newport Beach, California; San Ramon, California; Folsom, California; Austin, Texas; Salt Lake City, Utah; Raleigh, North Carolina, and most recently, Seattle, Washington. For more information on TTLC’s portfolio, including their active properties, visit www.TheTrueLifeCompanies.com or visit https://www.linkedin.com/company/the-true-life-companies/
No Offer or Solicitation
This press release is not an offer to sell or a solicitation of an offer to buy securities. An offer to sell the Interests/Units of the Funds may be made only pursuant to its respective Private Placement Memorandum, as amended and supplemented (the “Memorandum”). The information contained herein is qualified in its entirety by the Memorandum. The offering of Interest/Units (the “Offering”) is being made by means of the Memorandum only to accredited investors who meet minimum accreditation requirements. The Offering will not be registered under the Securities Act of 1933 or the securities laws of any state and is being offered and sold in reliance on exemptions from the registration requirements of such laws. Neither the Securities and Exchange Commission nor any other federal or state agency has passed upon the merits of or given their approval to the Units, the Offering or the Memorandum.
View source version on businesswire.com:https://www.businesswire.com/news/home/20240827599669/en/
CONTACT: Randy Carver / Kovach Marketing
949-280-9300 orRandy@kovachmarketing.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA COLORADO
INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY URBAN PLANNING
SOURCE: The True Life Companies
PUB: 08/27/2024 10:59 AM/DISC: 08/27/2024 10:58 AM
http://www.businesswire.com/news/home/20240827599669/en
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