Värde Partners and Touchstone Communities Acquire Land for New Master Planned Community in North San Diego County
SAN DIEGO – Touchstone Communities, a San Diego-based real estate investment and land development company, and Värde Partners, a global alternative investment firm, today announced the acquisition of two fully-entitled development sites in North San Diego County, California. The properties will collectively form San Diego’s newest master planned community called Park Circle (www.parkcirclelife.com).
Located in Valley Center, Park Circle will provide a total of 632 homes, a neighborhood retail center, a centrally located public park, three private recreation facilities, private parks, dog parks, sports courts, community gardens, and an extensive trail network.
“Park Circle will provide an opportunity for couples and families of all ages to purchase a home in a safe, walkable environment, where they can experience a lifestyle and vibe that has proven to be successful in other north county master planned communities like 4S Ranch and Del Sur, but at Park Circle the homes are at more affordable price points,” said Addison Garza, Executive Vice President of Touchstone.
Park Circle is anticipated to provide some of the most affordably priced single-family homes in North San Diego County, offering eight different home types to serve the needs of a diverse mix of home buyers. Home sizes will range from approximately 1,600 to 3,400 square feet including single story homes on larger lots. Fifty-two homes are reserved as affordable housing for qualified low-income buyers. Park Circle will be the new heart of Valley Center and is the major component of what is known as the South Village. It is ideally located within a short commute to North San Diego County’s largest employment centers.
“Värde has extensive experience in residential real estate development globally, and we believe the investment in Park Circle is a well-timed opportunity to deliver much needed housing in a highly constrained market,” said Brendan Bosman, Managing Director of U.S. Real Estate at Värde Partners. “We are excited to partner with Touchstone on this project.”
Touchstone expects to break ground in mid-2018 with a grand opening expected in mid-2019.
About Touchstone Communities:
Touchstone Communities is a San Diego-based real estate investment and land development company. Touchstone takes pride in planning and building distinguished residential and mixed-use communities throughout California. Touchstone’s expertise includes acquiring, entitling, and developing master planned communities that include cutting edge home designs, retail shopping centers, office and professional buildings, apartment complexes, golf courses, recreational amenities, and regional infrastructure. Touchstone is committed to integrating sustainable living and health conscious principles into each of our communities that create more desirable places to live, work, and play. Build Smart, Live Healthy, Be Happy. www.touchstonecommunities.com
About Värde Partners:
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, specialty finance, corporate credit, mortgages, energy and transportation. The firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, Värde employs more than 270 people globally with regional headquarters in Minneapolis, London and Singapore.