November 11, 2009

SunCal Companies Completes $30 Million Land Acquisitions in Las Vegas Market
Acquires Kimball Hill and LandSource Portfolios; Seeking More Opportunities

Las Vegas, Nev. (Nov. 11, 2009) — SunCal Companies, the leading private real-estate developer in the western U.S., has been seeking new properties in key markets and recently concluded two major acquisitions involving residential communities in the Las Vegas area.

Since August 2009, SunCal has completed the purchase of 1,665 lots (1,212 finished and 453 partially developed) within 22 separate projects throughout Las Vegas and Henderson in Nevada. The combined acquisition price for these properties was just below $30 million and involved developments formerly owned by Kimball Hill Homes and LandSource Communities Development.

Brad Shuckhart, Vice President of Land Acquisitions, SunCal Companies, said about the recently closed Kimball Hill transaction, “We’re very pleased to acquire this Las Vegas real estate portfolio and look forward to completing these communities when market conditions allow.”

In addition to the new acquisitions in Las Vegas, SunCal also has other transactions in escrow. It is currently under contract to purchase 1,699 lots (804 finished and 895 partially developed) in the East Coast, northern California and southern California regions for an aggregate purchase price amounting to more than $20 million.

SunCal is continuing to actively pursue additional acquisitions throughout Phoenix, Las Vegas, California, Chicago, Florida and the Mid-Atlantic region.

SunCal’s Land Acquisitions team invites brokers to contact them with information about new real-estate opportunities:

Casey Tischer,
Vice President of Acquisitions,
SunCal Companies,
949-777-4085,
ctischer@suncal.com

Brad Shuckhart,
Vice President of Acquisitions,
SunCal Companies,
949-777-4045,
bshuckhart@suncal.com

SunCal Companies has more than 70 years of experience acquiring, entitling and developing major residential properties and commercial developments. The company specializes in creating distinctive master-planned and mixed-use communities that emphasize quality of life, environmental sensitivity and recreational opportunities. SunCal is the largest privately held developer in the western U.S. For more information, visit www.suncal.com.