Tri Pointe Homes acquires 32 single-family detached lots in Milpitas, California, with plans to open Los Coches community in H2 2014; homes will range from 1,600 sq. ft. to 2,300 sq. ft.
July 30, 2013
– TRI Pointe Homes, Inc. (NYSE:TPH) in July 2013 announced its acquisition of 32 single family detached lots in Milpitas, Calif. The opening of the well-located project called Los Coches is planned for the second half of 2014.
“The core areas of the Bay Area are extremely supply constrained, especially for single family detached product. Our team in Northern California has built the necessary relationships to continue to source infill locations like this recent acquisition,” said Douglas F. Bauer, TRI Pointe’s Chief Executive Officer.
Located in the heart of the Silicon Valley, the acquisition in Milpitas is comprised of 32 single family detached lots averaging 2,100 square feet with homes ranging from 1,600 to 2,300 square feet. The property will also feature a tot lot/pocket park. Priced in the mid $800,000s, Los Coches will offer entry-level/move up product for Bay Area homebuyers.
About TRI Pointe Homes
TRI Pointe Homes, Inc. (NYSE: TPH) is engaged in the design, construction and sale of innovative single-family homes in planned communities in major metropolitan areas located throughout Southern and Northern California and, most recently, Colorado. The Company is headquartered in Irvine, California. For more information about the company and its new home developments, please visit www.TRIPointeHomes.com.
Except for the historical information contained in this press release, the matters set forth in this press release, including statements regarding the Company's plans with respect to building and selling homes, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with adverse weather, regulatory approvals, labor shortages and other risks detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and other documents subsequently filed with or furnished to the Securities and Exchange Commission. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
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