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The True Life Companies Sells Residential Site to Core Spaces

The True Life Companies Sells Residential Site to Core Spaces. Alternative investments, True Life, Core Spaces, TTLC, real estate, build-to-rent

The True Life Companies and its subsidiaries TTLC Elite Fund I LP, TTLC Elite Fund II LLC, and TTLC Elite Fund III LLC announced the sale of its Clear Creek Valley project. The seven-acre parcel, located near downtown Denver, was sold by the funds to Core Spaces, a real estate firm specializing in purpose-built, build-to-rent homes.

The property is approved for the construction of 116 duplex-style, residential homes for rent – a growing model to meet the housing needs for a wide range of home seekers, from singles to families and beyond.

“The TTLC team, together with Core Spaces, recognized this project as a unique opportunity for housing. It checks off all the boxes because it’s within an established and desirable neighborhood, and in close proximity to a bustling metropolitan region,” said Scott Menard, executive vice president for The True Life Companies. “Whether for work or play, downtown Denver is typically a 15-minute drive from the project, which is incredibly convenient.”

Within just a half-mile of the Regional Transportation District FasTracks B Line Westminster Station, the project’s prime setting offers commuters numerous options for easy travel. For families of K-12 students, the project is within the boundaries of the Westminster Public School District and is convenient to other public and private institutions, including Regis University. Recreational opportunities include multiple trails and parks and once completed, the community will feature areas for indoor and outdoor activities.

“TTLC’s current portfolio includes five properties in the Denver market, with even more under review,” said Scott Clark, chairman and CEO for TTLC. “We’re committed to bringing much- needed housing to supply-constrained Denver, and we are pleased to support the build-to-rent model with Core Spaces as one way to meet the goals of our investment thesis and to provide a solution for the diverse needs of today’s home seekers – especially today’s younger generation.”

To date, according to the company, the funds have invested capital into as many as 41 properties in some of the nation’s most highly constrained housing markets.

The True Life Companies’ team of residential real estate professionals work together with property owners, municipalities, and local stakeholders to address the need for attainable housing solutions in our metro regions. The company says it seeks to establish suburban and urban housing options that are the result of “insightful research, innovative planning, and creative collaboration.” TTLC’s companies includes three distinct divisions: Homes Built for America, which brings select properties in well-planned communities to fruition; TTLC Development Inc., which focuses on land development and the delivery of finished lots to homebuilders in their respective markets; and Brighton-Coulson, a Bay Area-based general contractor which manages purchasing, construction, and warranty for a range of homebuilding firms. TTLC is headquartered in Denver with offices in San Ramon, Folsom and Newport Beach, Calif.; Austin, Texas; Raleigh, S.C.; Salt Lake City, Utah; and Bethesda, Md.

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