May 28, 2014

Ryland Homes Buys Residential Lots at SunCal’s ShadowGlen Master-Planned Community in Manor

Manor, Texas (May 28, 2014) – SunCal, one of the largest real-estate development companies in the U.S that specializes in large-scale, mixed-use master-planned communities, has sold 25 residential lots to Ryland Homes at the ShadowGlen community in Manor. The value of the transaction was not disclosed.

“These represent the first ShadowGlen lots sold to Ryland, so we’re very pleased to welcome them as a homebuilder in this community,” said Kimberly Kraft, Vice President of Asset Disposition for SunCal. “This development has much to offer homebuyers as it is well-situated near the new Manor Expressway, it has an excellent land plan and it features a host of family friendly amenities.”

SunCal acquired the remaining 758 acres of the partially developed 1,400-acre ShadowGlen community for $15 million in December 2012. The original developer had invested several million dollars into the property over a five-year period to secure land entitlements and develop the site before the recession slowed activity. Since taking ownership, SunCal has been working on refurbishments and enhancements to the existing facilities and infrastructure throughout the property, and is guiding the project’s continuing development.

A four-acre water park and a state-of-the-art recreation center were previously completed, along with infrastructure throughout the property. Approximately 850 residential lots have been developed and more than 700 homes have been sold. Many homes in the community overlook the fairways of the adjacent 18-hole ShadowGlen Golf Course. When completed, the community will feature 3,000 homes; 500 acres of open space, parks and woodlands; and seven miles of nature trails.

SunCal acquires, entitles and develops major residential properties and commercial developments. The company creates distinctive master-planned and mixed-use communities that emphasize quality of life, environmental sensitivity and recreational opportunities. SunCal is one of the largest real estate development companies in the U.S. that specializes in large-scale, mixed-use master-planned communities, and has offices in Irvine, Calif.; Northern California; New York City; Washington, D.C.; Las Vegas; Denver; Austin, Texas; Savannah, Ga.; and Melbourne, Fla. For more information, visit www.suncal.com.