Värde and The True Life Companies forge strategic alliance
MINNEAPOLIS, MN AND SAN RAMON, CA – In a move that dramatically increases its stature as a major supplier of lots and land to America’s top homebuilders, The True Life Companies (TTLC) has entered into a strategic alliance with Värde Partners, a $10 billion alternative investment firm based in Minneapolis, MN. The alliance provides TTLC with access to a reliable global capital partner who has extensive experience in the single-family residential development and homebuilding industry. In turn, Värde gains access to TTLC’s solidly established resources and capabilities specializing in strategic land acquisition, entitlement and disposition throughout the Western United States.
Scott Clark, President and CEO of TTLC, commented, “Our relationship with Värde gives us a unique opportunity to accelerate our aggressive growth objectives by teaming with a substantial institutional capital partner, and industry leader, who understands our business and shares our vision. For both of us, this is a recipe for significant expansion.”
Brendan Bosman, of Värde Partners, stated, “The True Life Companies is a strong match for us because they have already established themselves as a premier player in the single-family residential market by owning or controlling more than 7,500 lots in the Western U.S. They have a solid foundation and an experienced management team that we can align with our extensive capital base to achieve considerable scale.”
The TTLC-Värde partnership is already off to an auspicious start. In just the first few months working together, the companies have deployed more than $50 million in capital in support of three new projects collectively representing nearly 1,400 prime home sites in Silicon Valley, Elk Grove/Sacramento and North San Diego County, CA.
TTLC has projects in various stages of entitlement throughout the United States. Headquartered in San Ramon, CA, the company maintains regional offices in Phoenix, AZ; Sacramento, CA, Newport Beach, CA, San Diego, CA and Denver, CO. For more information regarding TTLC’s residential land or recreational master-plan portfolio visit www.TheTrueLifeCompanies.com.