May 13, 2015

SunCal and Army Officially Open New Main Gate Project at Parks Reserve Forces Training Area in Northern California
SunCal Receives Land Parcel in Exchange; First Part of Future 189-acre Community

DUBLIN, CALIF., May 13, 2015 – SunCal and the U.S. Army Reserve held a ribbon-cutting today to officially open new Main Gate facilities at Parks Reserve Forces Training Area in Dublin, Calif., the first of six major projects that the developer is building under the largest-ever Reserve Property Exchange Agreement executed by the U.S. Army. The agreement involves SunCal constructing new military facilities in phases in exchange for 189 acres of land.

On the land it receives, SunCal will develop Dublin Crossing, a pedestrian-friendly, mixed-use community that will connect the east and west sides of Dublin currently separated by the Army base.

The ceremony marked the opening of a new Access Control Point (ACP) on the west side of Camp Parks off Dougherty Avenue; the ACP includes a new Main Gate and associated components. In exchange, SunCal received title to a 20-acre parcel of former Army land that represents the initial portion of a new community that the company will develop.

Besides the newly completed project in this phase, the Army agreement’s six-step schedule also includes: a variety of road and utilities infrastructure construction and improvements; a 33,000 square-foot area maintenance support facility; a 33,000 square-foot regional medical training facility; a 42,000 square-foot Army Reserve training facility; and a 40,000 square-foot public works/logistics warehouse.

The Dublin Crossing master-planned community will be a transit-oriented development within walking distance of a Bay Area Rapid Transit (BART) station and will include up to 1,995 new homes, significant public parkland; and 12 acres for a new elementary school. SunCal expects to shortly break ground for initial grading and infrastructure construction on the first land parcel it received.

“Today’s ribbon-cutting brings us a huge step closer to realizing the vision that the Army, the City and SunCal had when the Exchange Agreement was signed in 2011,” said Frank Faye, Executive Vice President, SunCal. “This will be a top-quality centerpiece development that will unite the eastern and western portions of the City of Dublin.”

The Army chose SunCal through a competitive selection process that began when more than 150 investors, contractors, developers and other interested parties attended an “industry day” to launch the Army’s search. SunCal was selected based on its collective experience and the Army’s determination that its submission was the best overall value for the Army.

The Exchange Agreement allows the base to gain new facilities with no impact to the Federal budget by using land as payment. In the Camp Parks agreement, SunCal will receive title to designated land parcels as it completes each of six projects, with the result being a total of 189 acres after the final project is completed in the years ahead.

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; Austin, Texas; and Savannah, Ga. For more information, visit www.suncal.com.