"Because of the rebounding housing market and ongoing creation of high-paying jobs in the Bay Area, we feel our footing is strong," Kliewer said.
Trumark's Vice President of Sales and Marketing, Mark Higgins said that condominiums will range in size from 500 to 1,500 square feet, depending on the location. The portfolio includes higher-end homes over $2 million as well as approachable market-rate housing under $500,000.
"We are looking at various amenities that appeal to this unique buyer, including personal bicycle-storage and tune-up facilities, onsite community art galleries, shared-vehicle parking and innovative outdoor spaces and uses," Higgins said.
Trumark Urban is an offshoot of Trumark Homes, which has raised more than $140 million in equity for single-family residences in suburban areas. Trumark Homes currently has 2,000 lots in pipeline in Northern and Southern California and "will continue to expand that brand," Nelson said.
Trumark Urban has a different focus, he said. "We've put together the opportunities, and we're aligning ourselves with equity partners who see the opportunity the way we do."
About The Trumark Group of Companies
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 has completed over $600 million in transactions since 2000, representing approximately 2,500 lots in Northern and Southern California. www.trumark-co.com/companies
Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail and hotel properties in the northern portion of the Golden State. www.trumarkco.com/commercial
Trumark Homes is a new generation homebuilder that is nimble, focused and unburdened by broken projects of the past. Since May of 2009, Trumark has raised more than $140 million of equity and funded 15 deals. Its pipeline exceeds 2,000 lots in core urban areas of California, representing more than $900 million in future revenue. www.trumarkhomes.com
Trumark Urban engages in multifamily acquisition and development in core urban neighborhoods close to jobs, transit and local businesses. Since making the strategic decision to focus on San Francisco in 2011, the new division has acquired six sites in San Francisco for mid- and high-rise condominium communities with plans in the works for more than 500 units. www.trumarkurban.com
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