SOURCE: The True Life Companies

The True Life Companies

December 18, 2014 10:08 ET

The True Life Companies Acquires Property Planned for 173 Homes in Menifee, CA

MENIFEE, CA--(Marketwired - Dec 18, 2014) - The True Life Companies (TTLC) is rapidly expanding its multi-state presence in the Western United States. With its first land acquisition in the Inland Empire, the Southern California division recently closed escrow on 64-acres in the city of Menifee. The property has an approved tentative tract map for a community of 173 homes on lots averaging 9,000 square feet. It is located one-half mile east of the I-215 freeway, off McCall Boulevard providing great accessibility for residents.

Named Talavera, the property will be marketed in mid-2015 to regional or national homebuilders and is designed for the construction of two distinctive residential neighborhoods targeted for entry-level and move-up family buyers. Premium lot sizes will distinguish Talavera from other communities in the area. The community amenities will include a 2.7-acre park, 11.16 acres of open space, and a 30-foot-wide landscaped paseo, which creates a walking trail throughout the neighborhood that incorporates green space, connects the homes, and creates a sense of place.

"This is an exceptional opportunity for The True Life Companies to expand its presence in Southern California," said Bob Garrison, TTLC's Managing Director for the Southern California Division. "It enables us to control a significant number of lots in a supply-constrained market and allows us to respond to the demand felt by both homebuilders and homebuyers in a rapidly growing region."

Talavera offers numerous advantages as a choice location in the area, specifically its location within a one-hour drive of major employment centers in Riverside, Ontario, and the Temecula/Murrieta and North San Diego County corridors. In addition, abundant shopping opportunities are situated along the I-215, including Perris Crossing Center, Sun City Shopping Center and Countryside Marketplace at Menifee Towne Center. For business and vacation travel, LA/Ontario International Airport is just 42 miles from the community.

Taber Anderson, Chief Investment Officer of TTLC, observed, "Talavera reflects our strategy of pursuing land acquisitions and entitlements throughout the entire Southern California region, from infill properties in employment-central locations to undeveloped land in outlying areas. TTLC is well-positioned to capitalize on supply-constrained markets where barriers to entry require expertise in land optimization and to follow the path of development in tertiary market areas that are within commute distance to strong and improving employment centers. In every case, our focus is on residential land opportunities that fulfill the short- and medium-term needs of the homebuilders in the area."

As a major supplier of lots and land to America's top homebuilders, TTLC has projects in various stages of entitlement throughout the United States. Headquartered in San Ramon, CA, the company maintains regional offices in Sacramento, CA; Phoenix, AZ; Denver, CO; and Newport Beach, CA. For more information regarding TTLC's residential land or recreational master-plan portfolio visit www.TheTrueLifeCompanies.com.

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