IRVINE, Calif. – August 19, 2009 – Trumark Homes has secured funding needed for land to build a community of 60 single-family detached homes in the Orange County city of Brea, California. The 5.6-acre parcel of land is an infill site surrounded by residential areas consisting primarily of older housing stock, which makes it a perfect fit for the Trumark land acquisition and development profile.
“This represents a big step toward keeping our future construction pipeline filled,” said Michael Maples, Trumark Homes’ co-founder and CEO. “We’re beginning construction on our first project in Upland, we have purchase 11 acres in Lake Forest and we’re also in the due-diligence phase on three other properties – one in southern California and two in the northern part of the state.”
Trumark’s seasoned land acquisition team of Jason Kliewer and James O’Malley handled the transaction, working with the seller and broker to overcome challenges and structure a deal that satisfied all parties involved.
“We’re fortunate to have these two industry veterans on our team actively scouring the market for the right opportunities,” Maples said. “They have extensive knowledge and contacts in the industry – including the brokerage community – and know how to close a deal.”
The company hopes to complete seller cleanup of the Brea land and move through the city approval process to keep the project on track for a Summer 2011 construction start date.
About Trumark Homes
Launched in 2008, Trumark Homes builds high-quality homes at competitive prices throughout California and has positioned itself for the housing market rebound. 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 Companies is the residential development arm of the organization and operates in Northern and Southern California. Trumark Commercial, which builds, leases and sells commercial buildings, operates in the northern portion of the Golden State. Additional information is available at www.trumark-co.com
| Southern California: Jason Kliewer President Phone: (925) 998-8246 jkliewer@trumark-co.com | Southern California: James O'Malley Executive Vice President Phone: (949) 422-3818 jomalley@trumark-co.com |
| Northern California: Arden Hearing VP of Land Acquisitions Phone: (925) 309-2510 ahearing@trumark-co.com | Northern California: Christopher Davenport Sr. Vice President Phone: (925) 309-2503 cdavenport @ trumark-co.com |
| Commercial Division: Ron Winter Principal Phone: (925) 309-2507 rwinter@trumark-co.com | Commercial Division: Zack T. Haller Sr. Vice President Phone: (925) 309-2511 zhaller@trumark-co.com |
