SOURCE: The True Life Companies

The True Life Companies

August 14, 2015 13:37 ET

The True Life Companies Expands Into Texas Market With Opening of New Office in Austin

AUSTIN, TX--(Marketwired - Aug 14, 2015) - The True Life Companies (TTLC), the premier provider of lots and land to America's top homebuilders, continues to expand its land acquisition activities with the opening of a new office in Austin, Texas.

Headed by Gary Brown, who has more than 30 years of experience in commercial and residential land acquisition and land development in many Texas market areas, the new office will initially focus on capitalizing on the strong economic indicators in both the Austin and San Antonio areas. According to Metrostudy Austin, new home inventory in greater Austin is less than a two-month supply, highlighting the need for lots and land to satisfy home buyer demand. In addition, starts and closings in new home construction have been on the upswing in the region since 2012, and unemployment in Austin stood at only 3.3% in March 2015.

Taber Anderson, Chief Investment Officer of TTLC, commented, "The Austin and San Antonio markets provide extraordinary opportunities for the company's rapidly accelerating acquisition and entitlement platform. Sustained price appreciation supporting builder acquisitions has led to a substantial decline of available homesites and entitled lots in both Austin and San Antonio. TTLC is poised to aggressively fill this need. Our notable team of highly experienced land professionals will enable TTLC to be a nimble value-add competitor and extend our reputation as a dependable and reliable supplier of lots to builder customers in California, Arizona, Colorado, and now into the Austin and San Antonio markets."

Heading the new Central Texas Division as its Director of Land Acquisitions, Gary Brown is a long-time resident of Central Texas whose skill set spans the spectrum in the real estate industry. From due diligence and project management to master subdivision planning, permitting, entitlement, development, construction, and eminent domain work, Gary's experience rivals any in the industry.

Most recently Gary served as Executive Vice President of Land Development and Acquisition for Century Communities (Jimmy Jacobs Homes) in Austin, where he expertly managed over $100M in ongoing projects and oversaw the acquisition and development of over 1,000 lots, managing resources and associated costs.

Brown commented, "Texas is one of the strongest and fastest-growing housing markets in the country, and our objective is to play a key role in that growth. Our strategy is to acquire and entitle land in prime growth locations for the sale of both paper and finished lots to the region's top homebuilders beginning in 2016. We anticipate strong demand for our acquisitions, which will provide builders with opportunities to meet and exceed their business plans with dependable top-line revenue and solid sales absorptions."

"The leadership team at The True Life Companies has created a fully integrated business platform that is ideally positioned to take advantage of the tremendous opportunity that exists today in the residential land acquisition, entitlement and development sector," stated Taber Anderson. "We have an expanding team of talented and experienced real estate investment professionals, a significant portfolio of properties acquired since 2011 on very attractive terms, and a robust pipeline of new opportunities in escrow or under contract. These competitive advantages will continue to increase as we expand our efforts now into Texas and soon to other key U.S. housing markets, and they make The True Life Companies an ideal strategic partner for capital or investment firms seeking capital preservation and attractive risk-adjusted yields while gaining prime access to the single-family residential sector of the real estate industry."

With numerous projects in various stages of entitlement throughout California, Colorado, Arizona, and Hawaii, TTLC with regional offices in San Ramon, CA, Sacramento, CA; Phoenix, AZ; Denver, CO; Newport Beach, CA, Kona, HI and its newest office in Austin, TX.

TTLC is a strategic investment and asset 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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