SOURCE: The True Life Companies

The True Life Companies

October 10, 2013 10:06 ET

Aiming for Growth, The True Life Companies Amplifies Its California Team With Key Management Appointments

SAN RAMON, CA--(Marketwired - Oct 10, 2013) - Aiming for accelerated growth in its home state, The True Life Companies (TTLC), based in San Ramon, Calif., has announced a series of key management appointments that will enhance its position as a leading provider of entitled land and lots to the homebuilding industry.

Signaling a renewed emphasis on the Southern California market, the company has appointed David Hendryx to Managing Director of its Southern California region. In addition, Derek Spalding has been promoted to Managing Director for the Sacramento Valley, and Scott Menard has been named Managing Director in the San Francisco Bay area.

Hendryx will be responsible for land acquisition, entitlement and sales of residential lots to merchant builders in all Southern California counties, including LA/Ventura, Orange, San Diego, Riverside and San Bernardino. David has a wealth of experience in land acquisition and financial deal structuring, as well as strong capital relationships. He has worked for an array of home builders over his 30 year career in the industry, holding key positions in many well-known organizations, including COO of The Warmington Companies, Executive Vice President of KB Home in the KB Home Coastal division, and founding partner of The Warmington Land Company. His most recent affiliation with Lennar's California Coastal Division, underwriting and closing a significant number of acquisitions in Los Angeles, Orange and San Diego counties, provides him with real-time market awareness.

"David has time-tested relationships with many of the homebuilders in the Southern California markets, notably in Orange County and the Inland Empire," stated Taber Anderson, TTLC's Chief Investment Officer. "His accomplished background, combined with his keen insight into these markets, gives us the ability to enact our acquisition strategy with precision in this region. He is well suited to play a major role in our company's growth."

"Southern California's dynamic geographical markets and diverse housing needs provide extraordinary opportunities for the company's acquisition and entitlement platform," stated Hendryx. "We are early in the cycle rebound, with most major markets having sustained a level of price appreciation supporting builder acquisitions and leading to a substantial decline of finished homesites and entitled lots. TTLC is poised to capitalize on these supply constrained markets where barriers to entry require expertise in land optimization, and by following the path of development in tertiary market areas within commute distance to strong and improving employment centers."

Derek Spalding has been with TTLC since 2009 and was recently promoted to Managing Director, Sacramento Region. Spalding has been a key contributor to the growth of The True Life Companies, identifying and procuring several large parcels in the Sacramento region just this year that will deliver more than 2,000 lots to fulfill the growing demand in that market. Prior to joining TTLC, Spalding was a land acquisition executive with Pacific West Communities, DR Horton and KB Home. His strong contacts and thorough knowledge of the Greater Sacramento area translate to a strong presence for the Company in that rapidly recovering housing market.

Scott Menard adds to the teams' bench strength with an extensive career in homebuilding in the Northern California markets spanning more than 26 years. He has held executive-level or management positions with such well-known companies as Waypoint Homes, Arbor Development Group, Summer Hill Homes, Trumark Companies, Taylor Morrison Homes, Ryland Homes, Shea Homes and Pinn Bros. Construction. Menard's background as a Division President gives him a broad knowledge base across all aspects of residential real estate development. This expertise, combined with a keen understanding of market dynamics, enable Menard to identify the strongest opportunities in the market to satisfy TTLC's growth plans.

"These latest additions to our team become a key factor in realizing the goals and objectives that we have established as our business plan over the next five years and beyond," Scott Clark, President and CEO of TTLC. "Key partners of this caliber enable us to deepen what is already a solid foundation, and capture the strategic opportunities we see in today's rebounding real estate market, allowing us to maintain our leadership role delivering prime properties to the homebuilding industry."

With several projects in various stages of development throughout California, Colorado, Arizona and Hawaii, TTLC, is based in San Ramon, Calif. with a rapidly growing regional office in Phoenix, Arizona. TTLC plans to continue acquiring land throughout the western United States as a major provider of entitled land and lots to the homebuilding industry.

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. Their cohesive team of experts focuses on optimizing value, employing replicable, scalable 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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