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IHP and California West Communities form joint venture

IHP Capital Partners and California West Communities have formed a joint venture partnership to develop Skyhaus, a collection of 100 townhomes located in San Marcos, California. No financial terms were disclosed. Currently, the Skyhaus project is under construction.

PRESS RELEASE

SAN MARCOS, Calif.–(BUSINESS WIRE)–IHP Capital Partners and California West Communities have closed a joint venture partnership to develop Skyhaus, a collection of 100 townhomes located in San Marcos, CA. The Skyhaus project is currently under construction.

“The Skyhaus housing project exemplifies the IHP and California West Communities strategic partnership, that is, delivering attainable priced housing within attractive settings in jobs-rich San Diego County,” said Jeff Enes, Senior Vice President of IHP.

Upon its opening in late 2019, the community will feature two-story townhomes with floor plans ranging from 752 to 1,745 square feet. Its preferred setting on the peak of the Rancho Tesoro community and south of Highway 78 will provide buyers with convenient access to employment centers within North County, miles of scenic trails, sweeping views of San Marcos and resort-style amenities. Prices for Skyhaus will start in the $400,000s.

“Following our past success in the San Marcos market, and with the backing of IHP’s dynamic support and experience, California West has very high expectations for Skyhaus’ success. The opportunity to deliver a contemporary and attainably priced neighborhood of two-story townhomes with some of the area’s most sought-after views is extremely rare in our industry,” shared Robby Thorne, Chief Executive Officer of California West Communities.

About IHP Capital Partners
Founded in 1992, IHP is one of the nation’s largest investment firms providing equity financing for residential real estate development. The firm invests institutional capital in residential real estate projects throughout the western United States. IHP and its partners have created neighborhoods and communities valued at more than $20 billion. IHP’s experience helps to maximize project value through recommendations in product design and segmentation, pricing strategy, marketing, development and operational fine-tuning.

For more information visit www.ihpinc.com.

About California West Communities
California West Communities is a full service residential land developer and homebuilding company, specializing in land entitlements, land development, homebuilding and sales of both homes and properties.

For more information visit www.calwestliving.com.