DENVER, CO – January 24, 2023 –The True Life Companies (TTLC), with its subsidiaries (The True Life Companies Elite Fund I, LP, The True Life Companies Elite Fund II, LLC and The True Life Companies Elite Fund III, LLC, “The Funds”) has announced the recent sale of its Clear Creek Valley project (Project). The seven-acre parcel, located in Adams County, Colorado near downtown Denver, was sold by The Funds to Core Spaces, an innovative real estate firm specializing in purpose-built, Build-to-Rent homes with offices in Chicago and Austin. The property is approved for the construction of 116 duplex-style, residential homes for rent––a growing model that meets and often exceeds 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 TTLC. “Whether for work or play, downtown Denver is typically a fifteen-minute drive from the Project, which is incredibly convenient.”
Within just a half-mile of the Regional Transportation District (RTD) 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 nearby, and once completed the community will feature areas for indoor and outdoor activities as well as a clubhouse.
“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, The Funds have invested capital into as many as 41 properties in some of the nation’s most highly constrained housing markets. TTLC or a designated affiliate will seek to complete the required approvals and then sell a shovel-ready property, or assign the purchase and sale agreement, to a well-capitalized homebuilder for their construction and sales pipeline.
For additional information about The Funds, contact TTLC at 720.210.9970.
About The True Life Companies
The True Life Companies is composed of a team of seasoned residential real estate professionals who work together with property owners, municipalities and local stakeholders to address the need for critically-needed attainable housing solutions in our metro regions. TTLC seeks to establish suburban and urban housing options that are the result of insightful research, innovative planning, and creative collaboration. TTLC’s group of companies includes three distinct divisions, each strategically integrated to directly support the firm’s initiatives: Homes Built for America (HBFA), which provides a seamless pathway to bring select properties in well-planned communities to fruition; TTLC Development Inc., which focuses on land development and facilitates 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, Colorado, with its family of companies and offices located in San Ramon, California; Folsom, California; Newport Beach, California; Austin, Texas; Salt Lake City, Utah; Raleigh, North Carolina, and most recently, Seattle, Washington.
No Offer or Solicitation
This press release is not an offer to sell or a solicitation of an offer to buy securities. An offer to sell the Interests/Units of the Funds may be made only pursuant to its respective Private Placement Memorandum, as amended and supplemented (the “Memorandum”). The information contained herein is qualified in its entirety by the Memorandum. The offering of Interest/Units (the “Offering”) is being made by means of the Memorandum only to accredited investors who meet minimum accreditation requirements. The Offering will not be registered under the Securities Act of 1933 or the securities laws of any state and is being offered and sold in reliance on exemptions from the registration requirements of such laws. Neither the Securities and Exchange Commission nor any other federal or state agency has passed upon the merits of or given their approval to the Units, the Offering or the Memorandum.