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April 25, 2016 For More Information:
Joy Lutes 877.846.7760
CBG Breaks Ground on Nevada Military Housing Community
San Diego Family Housing's NAS Fallon to Include 202 Homes plus Amenities

CBG Breaks Ground on Nevada Military Housing Community
FALLON, Nev.—CBG Building Company commences work today on the expansion of San Diego Family Housing – Phase IV at Naval Air Station Fallon (SDFH NAS Fallon), a 202-unit military housing community located just outside of NAS Fallon, the home of the Top Gun flying school. In partnership with the Navy and Clark Realty Capital, CBG will build 103 new, single-family and duplex units, renovate 99 existing units, and construct new amenity spaces across the Desert Winds, Blue Sky, and Mountainview neighborhoods.

"We are very excited for this opportunity to develop a housing community at Fallon that lives up to the standards that our military families deserve," said Michael Dowling, development executive at Clark Realty Capital. "Our Service Members and their families sacrifice for us every day, and we are honored to be able to give something back to them in this way."

The $76 million project, which involves the demolition of 130 existing units and the demolition and replacement of existing infrastructure and roads within the 229-unit community, will be achieved in multiple phases to minimize the impact of construction, maintain pedestrian access to sidewalks, and avoid the displacement of military families. The first phase of work includes the demolition of 62 units, construction of 50 new units, and removal and replacement of the surrounding roads and infrastructure.

"We are thrilled to partner with the Navy again," said Jim Forburger, senior vice president at CBG. "We look forward to providing a beautiful and amenity-rich community for Fallon's military families."

Serving a wide range of military members – from junior enlisted officers to senior officers and their families – SDFH NAS Fallon will feature a new 5,500-square-foot community center that meets minimum Anti-Terrorism Force Protection standards, in addition to a new water park, running paths, outdoor fitness stations, and numerous tot lots. SDFH NAS Fallon is scheduled for completion in early 2022, and will raise the number of constructed and renovated units in SDFH's 12,698-unit portfolio to more than 8,000.

The award-winning San Diego Family Housing portfolio is the Navy's largest public-private venture to date. In addition to single and multifamily homes, SDFH includes a number of neighborhood amenities on various sites across California and Nevada for Sailors and Marines and their families. The partnership has invested over $1.1 billion in San Diego's military communities since 2001, with more than 75 percent of work subcontracted to small business enterprises and locally owned companies.

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About CBG Building Company

Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 25 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 80,000 housing units since 1992. For more information, visit www.cbgbuildingcompany.com.

About Clark Realty Capital

Clark Realty Capital is a fully integrated national real estate company offering a broad base of services including capital markets, development, construction, property management, and investment management. The Army, Navy, Air Force, and Marines are leveraging the ingenuity and assured performance of Clark Realty Capital at 21 military installations throughout the United States. Upon completion of current military projects, Clark Realty Capital will have built or renovated over 34,000 homes with a development value in excess of $4.9 billion. For more information, visit www.clarkrealtycapital.com.