The True Life Companies closes third housing fund above $50M target
What's the deal? The True Life Companies (TTLCDealroom has a profile for this one. Try Dealroom →), a real estate investment and development firm focused on attainable for-sale housing, has closed its third private placement fund after raising more than $50 million from accredited investors. The Elite Fund III haul cleared its original target but fell short of a $75 million ceiling the firm added along the way.
The details: Elite Fund III launched in August 2023 as a $50 million offering under Rule 506(c) of Regulation D. TTLC later raised the ceiling to $75 million, but the fund finished just above target and is now closed to new investors.
Where the money went: The fund has invested in 47 residential land deals across US metropolitan markets, 34 of which remain active. It has already sold parcels in Milpitas and Vista, California, to affiliates of Toll BrothersDealroom has a profile for this one. Try Dealroom → and Tri Pointe HomesDealroom has a profile for this one. Try Dealroom →, respectively.
TTLC said the fund remains mid-cycle, and final realised returns and internal rate of return figures are not yet available. Orchard SecuritiesDealroom has a profile for this one. Try Dealroom → served as managing broker-dealer for the offering.
What they said: "We appreciate the trust our investors have provided to Elite Fund III," said Scott Menard, chief executive officer at TTLC. "As we continue executing across the portfolio, we remain focused on advancing thoughtfully planned communities for our homebuilding partners and the markets we serve."
Menard was named CEO in June 2026. Scott Clark, who led the firm through the fund's launch and early property sales, remains as chairman emeritus.
The bigger platform: Across its full roster of vehicles, TTLC cites more than 18 years of operating history, more than $186 million returned to investors, over 5,000 lots delivered, and 13 consecutive years of distributions.
What's next? The firm is preparing to bring its next vehicle, the TTLC Growth & Income Fund, to broker-dealer and registered investment adviser distribution channels. That fund is undergoing third-party due diligence review with FactRightDealroom has a profile for this one. Try Dealroom →.
The signal: By closing at target and lining up a successor fund, TTLC is betting steady demand for land tied to attainable housing will keep drawing private capital into a supply-constrained US market.
Read more: altswire.com
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