New joint venture is in development on two new home communities in supply-constrained upscale suburban Northern California neighborhoods
GRANITE BAY and ROSEVILLE, Calif. – July 18, 2022 – IHP Capital Partners, a leading residential real estate investment firm celebrating its thirtieth anniversary in 2022, and Anthem Properties, a real estate development, investment and management company, have acquired two new residential communities located in Granite Bay and Roseville for the development and construction of 214 single-family detached homes. The acquisitions solidify a new partnership for the firms who both have extensive experience developing and building new homes throughout Northern California.
“The housing market in the Sacramento region is attractive, boasting strong economic fundamentals including positive job growth, high home demand and limited housing inventory, and IHP is extremely pleased to partner with Anthem Properties in the development of Torrente at Sierra Vista and Whitehawk,” said Reneé McDonnell, managing director and senior vice president at IHP Capital Partners. “IHP places great value on people through its longstanding partnerships with leading builders and developers, and we are excited to begin this new venture with the talented team at Anthem Properties.”
Accessible to jobs, education, amenities and ample nearby recreational opportunities, both projects are in unique and desirable locations in Placer County, which generates almost 40% of the region’s new homes. The communities are strategically positioned within the market and will offer multiple products at different price points to appeal to a broad group of homebuyers.
“Demand for more modern new homes continues throughout Northern California and Anthem is excited to have secured the well-located project sites for two communities that will offer a terrific living experience for a range of Sacramento area homebuyers,” said Matt Gustus, regional vice president of home building at Anthem Properties. “Anthem is known for its new architecture in each community, creative floorplans, higher specification levels and build standards. We look forward to leaning into our experience and working with IHP Capital Partners in bringing Torrente at Sierra Vista and Whitehawk to life.”
Torrente at Sierra Vista consists of 159 single-family detached homes on 47 acres within the Sierra Vista masterplan in Roseville, northwest of Baseline Road and Market Street. Grading on the site is currently underway and model home construction is anticipated to begin in Q4 2022. The community’s grand opening and home sales are anticipated to begin in Q2 2023. Home pricing is to be announced at a later date.
Torrente at Sierra Vista will offer two product types designed to appeal to entry-level, move-up and move-down homebuyers. Product One includes single- and two-story homes ranging in size from approximately 1,986 square feet to 3,200 square feet, on lots averaging 5,500 square feet. Product Two includes two-story homes ranging in size from approximately 1,840 square feet to 2,050 square feet on lots averaging 3,400 square feet. Both products will offer a minimum of three bedrooms and offer spacious features such as an office or flex space, which is unique for the Roseville submarket.
Whitehawk consists of 55 single-family detached homes on 33 acres in Granite Bay. Site grading and utility installation is currently underway and model home construction is anticipated to begin in Q4 2022. Homebuyer pre-qualification is anticipated to begin in Q3 2022 with a community grand opening expected in Q1 2023. Home pricing is to be announced at a later date.
Whitehawk is in a well-located, infill site that will offer a gated, family-oriented community. All new homes will be single-story on large lots ranging from 9,000 square feet to 14,000 square feet. Home sizes will range from approximately 2,700 square feet to 3,750 square feet and will include open floor concepts, flex space, California rooms for outdoor living, four or more bedrooms, a minimum of two and a half bathrooms, two and three-car garages and a dedicated office space.
“As IHP celebrates its thirtieth anniversary in 2022, we continue to expand into key submarkets and forge strategic relationships with experienced local builders such as Anthem Properties,” said Richard Whiteley, co-president and chief operating officer at IHP Capital Partners. “Aligned in our commitment to quality and strategic approach, the IHP team is pleased to unite its expertise with Anthem’s to bring new well-designed homes to Northern California.”
IHP is a strategic partner for developers and homebuilders throughout the western U.S. Including Torrente at Sierra Vista and Whitehawk, the company currently has more than 30 residential projects in various stages of development in Colorado, Utah, California, Oregon, Nevada, Washington, Texas and Arizona.
About IHP Capital Partners
IHP Capital Partners was founded in 1992 and celebrates three decades of industry leadership this year as one of the nation’s leading real estate investment firms. The company facilitates a path to success for its investor and development partners by providing equity for residential projects throughout the country, with a focus on the western U.S. A tactical partner and trusted fiduciary, IHP’s track record is built on experience, expertise and long-term sustained partnerships with well-known institutional investors and a wide range of the industry’s most notable builders and developers. For more information, visit www.IHPInc.com. Follow the company on LinkedIn.
About Anthem Properties
Founded in 1991, Anthem Properties is a team of 450 people driven by creativity, passion and direct communication. Anthem has invested in, developed or managed—alone or in partnership—more than 310 residential, commercial and retail projects across western North America. The firm’s growing residential portfolio includes 17,500 homes that are complete, in design or under construction, from master-planned mixed use residential and multifamily, to townhome and single-family communities. Anthem owns, co-owns, manages or has previously owned over 8.5 million square feet of retail, industrial, residential rental and office space across western North America. It has developed more than 60 communities across 7,400 acres of land in Alberta, British Columbia and California. Anthem is a real estate development, investment and management company that strives, solves and evolves to create better spaces and stronger communities. For more information, please visit https://anthemproperties.com/.