Developer the True Life Companies has secured a total of $77 million in acquisition and construction financing to build two townhome projects in the Bay Area. Madison Realty Capital originated the funding for the developer, and noted limited new housing in the area and the high demand for high-quality single-family homes as its interest in the project.

True Life Companies secured $45 million for the construction a 50-townhomes property with 8,000 square feet of retail space in Sunnyvale, which is being built in partnership with Hillwood Investment Properties. The property will feature a mix of two, three, and four-bedroom floorplans, each with a two-car garage and a private deck. The project will be built in two phases, with the construction of 85 townhomes in phase one. Due to Sunnyvale’s below market rate housing requirements, 12.5% of townhomes will be sold at affordable prices.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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