REAL ESTATE
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Trumark Cos. moves forward with plans for new-home project in Brea
The Irvine firm has secured funding to progress with the 5.6-acre site.
by Caitlin AdamsPublished: December 09, 2009 03:00 PM
Trumark Cos., located in Irvine, has secured sufficient funds to proceed with its planned development of a new home-building project in Brea. The firm seeks to entitle, acquire and build a community of single-family residences on the 5.6-acre property. The location is an infill site surrounded by residentially zoned areas, with most housing structures in the area being mainly older stock.
It's positive news for Trumark, because it keeps the homebuilder's "future construction pipeline" stocked, according to Trumark principal Michael Maples.
“We’re beginning construction on our first project in Upland, we recently purchased 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,” he says.
Maples credits the success of the funding transactions on Trumark’s land acquisition team, Jason Kliewer and James O’Malley.
“We’re fortunate to have these two industry veterans on our team actively scouring the market for the right opportunities,” Maples says. “They have extensive knowledge and contacts in the industry – including the brokerage community – and know how to close a deal.”
Trumark hopes to complete the purchase process on the Brea land and quickly move through the city approval process to keep the project on track for a planned construction start date in the summer of 2011.
Related headlines
Anaheim's Harbor Lofts auction is Dec. 13
Santa Ana’s RiverRock strengthens foundation
Bomel Construction completes Fashion Island parking structure
Anaheim Hills-based Bomel helps construct Las Vegas hotel
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It's positive news for Trumark, because it keeps the homebuilder's "future construction pipeline" stocked, according to Trumark principal Michael Maples. “We’re beginning construction on our first project in Upland, we recently purchased 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,” he says. Maples credits the success of the funding transactions on Trumark’s land acquisition team, Jason Kliewer and James O’Malley. “We’re fortunate to have these two industry veterans on our team actively scouring the market for the right opportunities,” Maples says. “They have extensive knowledge and contacts in the industry – including the brokerage community – and know how to close a deal.” Trumark hopes to complete the purchase process on the Brea land and quickly move through the city approval process to keep the project on track for a planned construction start date in the summer of 2011. Related headlines Anaheim's Harbor Lofts auction is Dec. 13 Santa Ana’s RiverRock strengthens foundation Bomel Construction completes Fashion Island parking structure Anaheim Hills-based Bomel helps construct Las Vegas hotel |
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