SAN CLEMENTE, CA—Taylor Morrison Home Corporation has formed a joint venture with its two largest shareholders to acquire and develop the 195.5 acres of San Clemente coast known as Marblehead.
The partners are a group of funds managed by Oaktree Capital Management, L.P. and TPG Real Estate.
The seaside parcel, which can accommodate more than 300 luxury home site is currently owned by LV Marblehead, a subsidiary owned by Lehman Brothers Holdings. A sale agreement has been reached, closing should take place this month, and construction in the community is expected to begin in 2015.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
