LOS ANGELES, CA--(Marketwire - April 15, 2010) - Trumark Homes and Resmark Equity Partners, LLC recently facilitated the purchase of a nine-acre new townhome community for $8.4 million in Granada Hills, a district in the San Fernando Valley region of the City of Los Angeles.
The gated community, which has been renamed "High Lights," consists of 82 homes perched on a gentle hill overlooking the San Fernando Valley with a lookout park, a walking path and a pool area. The first models will be open to potential homebuyers at the Grand Opening on April 24; prices are anticipated to start in the low $300,000's.
"This community will offer potential buyers townhomes in an area lacking new residential product -- there's very little out there that can compete at this attractive price point," said Jason Kliewer, partner and acting general counsel at Trumark Homes. "High Lights is about 30 minutes away from downtown LA, and close to the 5 and the 405 freeways, so it offers a reasonable commute at an affordable price."
Resmark Equity Partners provided the capital to purchase the land while Trumark will construct and market the new townhome community over the next two years.
Granada Hills is a supply-constrained market of approximately 54,700 residents that is located close to California State University, Northridge and within close proximity to major employment, making it a prime choice for Resmark Equity Partners and Trumark Homes.
Trumark Homes is currently putting the finishing touches on four model homes in preparation for the grand opening in late April, with the goal of building and selling out the entire community by the spring of 2012.
Located on the corner of Odyssey Drive and Blucher Avenue, the townhome community is approved for 82 single-family townhomes of which 13 are completed and ready for sale. The two- to three-story townhomes are being offered in six different floor plans: 13 townhomes at 1,112 sq. ft.; 34 townhomes at 1,230 sq. ft.; eight townhomes at 1,326 sq. ft.; 14 townhomes at 1,412 sq. ft.; six townhomes at 1,604 sq. ft. and six townhomes at 1,659 sq. ft. Homebuyers may sign up for the interest list at www.liveathighlights.com.
About Resmark Equity Partners, LLC
Resmark Equity Partners (Resmark) is a full-service residential investment advisor headquartered in Los Angeles and San Diego. Resmark manages, finances and oversees the acquisition and development of residential for-sale real estate in the Western United States and other select markets nationwide. Resmark manages more than $1 billion in investment capital. The power of these resources provides Resmark with strong competitive advantages, including the ability to move quickly and decisively. Since its inception in 1995, Resmark has participated in more than 125 development deals, generating significant returns for its investors and creating value with approximately 18,000 units of residential for-sale real estate, representing over $5 billion in sales. www.resmarkllc.com
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
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