News April 11, 2022
Madison Realty Capital backs True Life on Bay Area resi
The Real Deal reports that Denver-based The True Life Companies has secured $77M in construction financing for two Bay Area projects that combine more than 100 homes in Silicon Valley and the East Bay. The two loans include $45 million in property acquisition and construction financing for a 50-unit townhome project in Sunnyvale in Silicon Valley, and $32 million for a development with slightly more homes in Hayward. True Life expects to break ground on both projects, which have received approvals in both cities, in the fall. Demand for single-family homes in the Bay Area continues to steadily increase as major employers such as Apple, Google and LinkedIn expand in the region, Madison’s Josh Zegen wrote in a statement.