NEWPORT BEACH, Calif.--(BUSINESS WIRE)--True Investments, LLC, a privately owned real estate investment company, has announced the cash acquisition of $11.3 million of non-performing residential mortgages. The company, which closed on the acquisitions within 10 days, made the recent investment with the goal of modifying borrowers and improving affordability through principal and payment reductions.
The acquisition is part of $100 million in capital True Investments has committed for 2013 to continue acquiring single family REO and non-performing loans, as well as small balance commercial loans.
“Keeping a borrower in their home is our top priority. We believe that, in most cases, the current owner is the best person to be in the home and many of them are relieved at the option of staying,” said Twila True, President of True Investments, and who has more than 15 years experience in real estate and distressed assets.
Mortgage loans that ultimately cannot be modified are moved into True Investments rental or seller-finance programs. True Investments has a growing portfolio of single-family rentals in markets such as Pittsburgh, Indianapolis, Rochester, Cincinnati, Atlanta and Dallas. The seller finance program offers private loans to borrowers in situations and communities where traditional mortgage loans may be difficult to obtain.
“We realize that financing is very difficult right now for new and former homeowners who have fallen victim to the current economic collapse, and we want to provide tools to help them get back on their feet. We have created our True Affordable Housing program with this in mind and are offering ways for credit-challenged homeowners to experience the pride of home-ownership once again,” stated True.
In addition to the $100 million in capital that True Investments has available, the firm maintains a significant deal pipeline in its Investment Management business that presents a number of unique investment options for investors.
“We recognize that we serve both the financial partners from whom we buy assets and our investors which entrust us with their investment capital. By maintaining a sizeable deal pipeline, we are able to selectively choose one-off loans and properties or portfolios of such that fit our need for current reasonable yield and solid long-term capital appreciation. Our investors are particularly excited about the opportunities to continue to invest in a prudent and disciplined strategy, especially during a time when prevailing return levels and investment alternatives aren’t great,” remarked True.
About True Investments, LLC
Based in Newport Beach, California, True Investments, LLC, is a leading female American Indian-owned full-service real estate investment firm that provides Investment Management and Advisory services for its investors and financial partners as well as direct investments for its own account. True Investments, LLC seeks to preserve investor capital and deliver exceptional risk-adjusted returns through strategic investments in opportunistic real estate debt and equity.
Though True Investments, LLC seeks to capitalize on short-term, high-yield opportunities, the firm holds a long-term view of real estate and applies its view in developing and growing sustainable wealth for itself and its partners.
Led by President Twila True, the management team share a disciplined approach to the due diligence, acquisition, and management of real estate and real estate-related assets. Spanning the last three decades, the team has underwritten more than $5 billion in real estate transactions, and has also acquired, managed, or developed over $400 million in real estate and real estate-related investments. The team combines an expertise in the sourcing, underwriting and management of both residential and commercial assets.
Part of the mission of True Investments is to give back to the community, and as an American Indian, True donates a percentage of sales from the company to True Sioux Hope, which provides funding for education and infrastructure to Sioux Indians in South Dakota. True Investments also donates a portion of sales to Love Without Boundaries True Children’s Healing Home, which provides humanitarian aid to orphans in China.