SOURCE: True Life Communities

True Life Communities

April 18, 2011 11:08 ET

True Life Communities Expands Its Residential Development Holdings With Acquisition of Sancerre Park Project

SAN RAMON, CA--(Marketwire - Apr 18, 2011) - True Life Communities has added to its growing portfolio of niche market residential developments with the acquisition of Sancerre Park, a 2.7-acre semi-custom home community in Pleasant Hill, CA. With the addition of the Sancerre Park project, True Life Communities holds and is developing 86 single-family lots in five residential projects throughout California.

Nine semi-custom residences on lots ranging from 7,000 to 13,000 square feet are planned for the Sancerre Park community. The 2,300- to 3,300-square-foot homes are expected to be priced from $760,000 to about $950,000, and are designed for growing families and move-up homebuyers.

"Sancerre Park is the fifth residential community we've added to our portfolio in the last five months," said Scott Clark, Chairman and CEO of True Life Communities. "Conditions in the market are ripe for identifying and acquiring properties with values that are favorably positioned for the next up-cycle in the market. We feel very good about the acquisitions we've made in strong demographic markets that have measurable job growth and economic stability. It's these kinds of markets that will lead the homebuilding industry back to prosperity."

In addition to Sancerre Park, True Life Communities has acquired and is developing High Point in Escondido, Calif., a 500-acre property featuring 36 custom-home view lots. True Life Communities plans to build residences ranging from 3,000 to 4,200 square feet on 18 lots, and offer the remaining finished lots for sale.

The company has also acquired Silver Oaks in Pleasanton, Calif. a custom-home community; Camberly Place at Stonbrae in Hayward, Calif., a joint venture development featuring 26 single-family detached production homes ranging from 3,200 to 3,900 square feet; and Woodlands in Fair Oaks a suburb of Sacramento, Calif. The latter is an infill residential development featuring 10 single-family detached production homes ranging from 2,000 to 2,400 square feet.

"We continue to be aggressive but deliberate in growing our residential real estate holdings," said Clark. "We're always looking for new land, project acquisitions, and joint-venture opportunities in markets that have the demographic profile and economic sustainability metrics that fit our business model."

True Life Communities is a diversified real estate development, consulting and construction firm specializing in land development and homebuilding activities. Headquartered in San Ramon, California, the company plans to develop land and build new-home neighborhoods throughout the western United States focusing on meticulous attention to detail. Their company is founded on a longstanding tradition of honesty and trust and guided by a management team with an average of 30 years of experience. True Life Communities derives its name from its dedication to building homes that embrace life's true moments -- first steps, graduations, reunions and more -- and provide enduring value and bright futures for their owners.

Additional information on True Life Communities is available by calling 925-824-4300 or visiting www.TrueLifeCommunities.com.

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