Landsea Homes & Partner Acquire New Homesites in Sunnyvale for $68.5MM

SummerHill Homes, The Landmark, Pacific Urban Residential, Marcus & Millichap, Sunnyvale

– New Homesites to Create Community Called “Lavender,” Featuring Townhomes with Nine Different Floor Plans

–Townhomes to Include High Performance Home Features Offering Home Automation, Sustainability and Energy Savings to Buyers 

(EDITOR’S NOTE: According to published reports and public documents, the site was sold for $68.5 million by an entity associated with Palo Alto-based SummerHill Homes. SummerHill had just recently closed on the acquisition of this site in October for $58 million. Landsea’s partner in the deal is Long Beach-based Arroyo Capital.)

Sunnyvale, Calif. (November 30, 2020) – Landsea Homes, a Newport Beach-based homebuilder, announced that it has acquired 128 homesites to create the new community, Lavender, in Sunnyvale, CA.“We’re very excited to launch another unique community in Sunnyvale,” said Josh Santos, Northern California division president. “The Vale’s 314 homes sold out in just over two years and we’re confident that Lavender will also be well received in the Sunnyvale market. Homebuyers in Silicon Valley are looking for living that offers modern-day conveniences and easy access to transportation, which buyers will find at Lavender. 

The new community will consist of nine different floor plans ranging in size from 1,078 square feet to 2,011 square feet. Additionally, 20 of the new townhomes will be priced below market rate.

Located at 925 S. Wolfe Road, land development is expected to begin in December 2020, with the new homes available in late 2021. 

“Our finance partner, Arroyo Capital owns the land and we will purchase it back as we complete the land development. We operate the community entirely including land development, construction and sales, under Landsea Homes,” added Santos.

With a population of approximately 157,000 residents, Sunnyvale is the seventh largest city in the Bay Area. Almost 8,000 local businesses provide a rich mixture of goods and services, including many icons in tech, manufacturing, retail and R&D.

“Lavender’s close proximity to the region’s top tech employers and numerous transportation options are perfect for new homebuyers,” said Santos. “With world-recognized brands and locally treasured shopping and dining close by, residents will enjoy a unique lifestyle unmatched in the region.” 

Homes at Lavender will also be a part of Landsea Homes’ Performance Collection. This includes High Performance Home features that consist of three core pillars – home automation, which is supported by a partnership with leading technology company Apple® to utilize the Apple HomeKit™ environment, sustainability and energy savings.

Landsea Homes is currently selling homes in other Bay Area communities, including Catalina in Santa Clara, Skylark at Sanctuary Village in Newark and Relevae at Wilder in Orinda.

In September, Landsea Homes acquired 80 new three-story townhomes in Novato at Verandah at Valley Oaks. In November, Landsea Homes acquired 306 homesites for a new community called Ellis Town and Country in Tracy, the company’s first community in the outer Bay Area.Landsea Homes announced plans to merge with LF Capital Acquisition Corp. (NASDAQ: LFAC), which would make Landsea a public company in the fourth quarter of 2020.

For more information about Landsea Homes, please visit: www.landseahomes.com.

About Landsea Homes

Landsea Homes is a California-based homebuilding company that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation’s most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, northern California and southern California.

An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to “Live in Your Element.” Our homes allow people to live where they want to live, how they want to live – in a home created especially for them.  

Driven by a pioneering commitment to sustainability, Landsea Homes’ Performance collection features homes that are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®.  Homes in this collection include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet. 

Our Garrett-Walker collection offers unique, affordably priced and value-based single-family homes in some of the nation’s fastest growing and most desirable markets. Homebuyers enjoy the confidence of owning a quality home that provides lasting value. One of the most trusted brands in the region, this collection continues to attract everyone from first-time homeowners to those seeking more room for their growing families.

Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees and stakeholders by creating an unparalleled lifestyle experience that is unmatched.

For more information on Landsea Homes, visit: www.landseahomes.com.

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