DUBLIN, CA--(Marketwired - Nov 17, 2014) - Trumark Homes ("Trumark") announced that it acquired 185 acres in the hills of East Dublin and has commenced site development on Wallis Ranch, a master planned community consisting of eight distinct planning areas encompassing 806 attached and detached housing units with vernacular architecture, open spaces, public parks and public art installations. Wallis Ranch is a joint venture between Trumark, Isles Ranch Partners, LLC and funds managed by Castlelake, L.P. Isles Ranch Partners and Castlelake are both alternative investment firms with numerous land development and homebuilding projects across the United States.
"Our vision for Wallis Ranch is two-fold: To develop a master planned community that is thoughtfully designed for today's buyer and to create a sense of place," said Michael Maples, principal and co-founder of Trumark Companies. "Wallis Ranch will be a highly-amenitized community that should appeal to active families and professionals in California's Tri-Valley."
Wallis Ranch is one of the few remaining fully-entitled master planned communities located in the City of Dublin in Alameda County. The property enjoys convenient access to the Bay Area's three major employment centers of San Francisco, San Jose and the East Bay. Interstate 580 is approximately two miles from the site and a BART station, located three miles away, provides transport to San Francisco and further access to Fremont, Santa Clara and San Jose via Altamont Commuter Express.
The City of Dublin is located 35 miles east of San Francisco and has been one of the fastest-growing cities in Alameda County in recent years. Strong public schools and a variety of city amenities have contributed to the city's growth.
Wallis Ranch will also include 84 acres of open space that will include public hiking and biking trails, parks and a water-quality basin. In the center of the communities will be a three acre common area that will include a spa and fitness center, outdoor kitchen, community gardens, yoga lawn and town square.
In addition, the original 1912 Antone School Building, currently on the site, will be salvaged and repurposed creating a community hall and neighborhood cornerstone at the community's entrance featuring historical information about the school and the area. Trumark is also working with local artists to create entry gates and bridge railings using recovered farm and ranch tools and other relics -- some more than 100 years old -- found on the site. Benches created by local artists will border the creek trails.
"In our opinion, Wallis Ranch is a jewel of a property and we believe the streetscape will provide a wealth of local charm and character," said Gregg Nelson, principal and co-founder of Trumark Companies. "This is a unique opportunity within the City of Dublin."
Bordering a creek and hillside, Wallis Ranch's landscape is being designed by Gates Associates to take advantage of the property's location. KTGY Group and Dahlin Group Architects have collectively designed a diverse mix of homes, ranging from 1,700-square-foot townhomes to 4,100-square-foot executive homes, in traditional and modernist California style.
Trumark will offer lots to homebuilders and expects to have model homes open by the first quarter of 2016.
About The Trumark Group of Companies
The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Trumark has raised more than $460 million of equity and funded 24 deals since the depth of the recession in 2009. www.trumark-co.com/companies
Trumark Homes is a new generation homebuilder that is nimble, focused and unburdened by broken projects of the past. Its pipeline exceeds 4,400 lots in core in-fill areas of California, representing more than $2.8 billion in future revenue. www.trumarkhomes.com
Trumark Urban develops condos in core urban neighborhoods close to jobs, transit and local businesses. Founded in San Francisco in 2011, the new division has expanded into Los Angeles and now has 9 high-density condominium communities in process with plans in the works for more than 1,000 units for a total projected revenue in excess of $1 billion.
www.trumarkurban.com
Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail and hotel properties in the northern portion of the Golden State. www.trumarkco.com/commercial
About Isles Ranch Partners, LLC
Isles Ranch Partners is an alternative investment management group with approximately $475 million of equity committed across 31 projects in partnership with Castlelake, L.P. The firm targets opportunistic, value-driven investments primarily in the residential acquisition, development and construction (AD&C) space. Founded in August 2012, the firm has a team of 15 professionals in Newport Beach and Minneapolis. For more information, visit www.islesranch.com.
About Castlelake, L.P.
Castlelake, L.P. is a global private investment firm focused on investments in alternative assets, sub-performing loans, corporate special situations, dislocated industries and is an experienced leader in aircraft ownership and servicing. Known as innovators in alternative investing, Castlelake's team is comprised of more than 66 professionals with deep expertise, located in Minneapolis and London. Castlelake manages approximately $4.7 billion in assets on behalf of more than 90 endowments, foundations, public and private pension plans, private funds, family offices, insurance companies and sovereign wealth funds. For more information, visit www.castlelake.com.
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