Service: Real Estate Due Diligence and Transaction Support

The Reynolds Group creates value in real estate transactions by identifying, assessing, and costing potential environmental impacts and risks of current and past operations to both potential buyers or sellers.

The Reynolds Group (TRG) can rapidly complete an environmental screening or detailed due diligence of any type of real property. TRG performs hundreds Phase I Environmental Site Assessments each year for portfolios of properties and individual sites. Phase I ESA's are performed according to American Society of Testing Materials (ASTM) Standards -- ASTM Designation E 1527, Standard Practice for Environmental Site Assessments. TRG's Phase I ESA's also conform to All Appropriate Inquiries (AAI) standards.

The Reynolds Group's due diligence services are cost effective and complete, with attention to important details. TRG is fully staffed to perform asbestos, lead, and mold inspections of buildings. In addition, TRG provides turnkey site assessment, remediation, agency interaction, and risk assessment services, if recognized environmental concerns are identified during the early due diligence process.

The Reynolds Group has received site closures (i.e., No Further Action Letters) from various California Regional Water Quality Control Boards, County Environmental Health Departments, and local fire departments. TRG has worked on sites under direction of the California Department of Toxic Substances Control (DTSC) and the federal EPA.

The Reynolds Group also provides services in the following areas: Remedial Solutions/Cost Estimation, Brownfield/Redevelopment Practice, Litigation Support, Soil and Groundwater Investigations, Dry Cleaners/Metals Industries, Gasoline Stations, Risk Assessments, Project Management/Owner Representation, Regulatory Response and Negotiations.

32 Manufacturing Sites in Mexico (Two Week Turnaround) (6731.XI)

Client:	CONFIDENTIAL MAJOR NEW YORK INVESTMENT BANK
Proj Mgr:	Daniel Nunez	Completed:	09/01/2004
Industry:	Mexico (latin America) Businesses Manufacturers	Service:	Real Estate Due Diligence And Transaction Support
The Reynolds Group (TRG) performed 32 Phase I Environmental Site Assessments and Priority Ranking Studies in the country of Mexico. The engagement required rapidly accessing critical environmental information, performing site inspections around the country, interviewing key personnel and providing an immediate priority ranking of potential environmental concerns. These concerns were identified at the 32 manufacturing plants that were involved in a highly confidential acquisition. The engagement dealt with heavy industrial manufacturing sites, some of which were two miles square in area. TRG was able to mobilize to ten different states in Mexico and rapidly access critical environmental information by performing site inspections and interviewing key personnel. With this information, TRG provided the client with frequent updates and finally a priority ranking of the 32 manufacturing plants. TRG coordinated with the fast-moving Fortune 500 client, conducting extensive research and interviews to acquire difficult to obtain information for a large number of sites. At the completion of the project, TRG completed a summary of the findings in an eyechart, a user-friendly format that highlighted the risks and environmental concerns at each site. TRG has maintained a presence in Mexico for nearly 12 years and performs more than 300 due diligence studies per year.

Asbestos Consulting AHERA (4601 AV)

Client:	APPLE VALLEY UNIFIED SCHOOL DISTRICT
Proj Mgr:	Ed Reynolds Jr.	Completed:	06/18/2009
Industry:	School Districts/private Educators	Service:	Asbestos/ Lead/ Mold Consulting Real Estate Due Diligence And Transaction Support
The Reynolds Group provides turnkey environmental services for this School District in the High Desert. Initially providing asbestos, lead and mold consulting, TRG's services have grown to encompass an broad range of environmental issues.

County Government -- Southern California (6753)

Client:	COUNTY OF RIVERSIDE
Proj Mgr:	Rosanne Fischer Ed Reynolds Jr.	Completed:	03/01/2002
Industry:	City, County, State And Federal Agencies	Service:	Real Estate Due Diligence And Transaction Support Soil Remediation Asbestos/ Lead/ Mold Consulting
In 2005, TRG was selected through a competitive review of its qualifications by County of Riverside department heads. Much of the Riverside County work arises from condemnation cases where "time is of the essence". Because of TRGs effective, timely response to requests by the County of Riverside, our company was placed on the "go to" list and has become one of the primary environmental consultants to county. The county routinely acquires and disposes of real property assets. The county has looked to TRG to provide cost-effective and timely real estate due diligence consulting services for several years with dozens of assessments completed and value added to the real estate transaction process.

PORTFOLIO ACQUISTION, 30 COMMERCIAL PROPERTIES (NA)

Client:	CONFIDENTIAL MAJOR NEW YORK INVESTMENT BANK
Proj Mgr:	Ed Reynolds Jr.	Completed:	05/04/2005
Industry:	Banks/real Estate Financiers & Investors	Service:	Real Estate Due Diligence And Transaction Support
A major New York Investment Bank was pursuing the portfolio acquisition of 30 properties in southern California from a defaulted savings and loan which had been taken over by the Federal Deposit Insurance Corporation (FDIC). Environmental due diligence was required on all the properties which had a variety of potential environmental issues ranging from asbestos, lead, metals, and volatile organic compounds (VOCs) in the soil and groundwater. One of the properties, located in Long Beach, CA, contained approximately 12 acres and multiple commercial buildings. TRG was able to complete Phase I Assessments, regulatory audits and remedial cost estimates for the property transactions in a short time frame. Personnel assessed and defined environmental concerns including past agricultural use of the property, potential solvent use, past existence of underground storage tanks, and a significant off-site source of contamination that allowed the Investment Bank to quantify and understand the risks of advancing their real estate deal. This information was used by the Investment Bank to advance the acquisition.

Due Diligence (7115)

Client:	FULLERTON UNIVERSAL
Proj Mgr:	Al Fuan	Completed:	04/05/2007
Industry:	Manufacturers Real Estate Managers/owners	Service:	Operations And Maintenance Of Remediation Systems Real Estate Due Diligence And Transaction Support
During the course of a multi-million dollar commercial real estate transaction, TRG provided the buyer with an estimated cost to assume the environmental liability in the purchase of the property. The buyer was able to negotiate a significant discount on the deal because of the chlorinated solvent contamination associated with the former manufacturing activities at the property. Once the deal closed, TRG set out to clean up the contamination in the soil beneath the building on site. Operating a soil vapor extraction unit with a network of a dozen multi-nested vapor wells has reduced the contaminant concentrations to minimal levels, and TRG is negotiating closure of the case with the Orange County Health Care Agency based on minimal health risk to employee occupants of the building. The cost of cleanup and closure of the case is well within the estimate TRG provided during the transaction. Closure is expected within months.

Real Estate Transaction (6678.I)

Client:	REAL ESTATE ATTORNEY
Proj Mgr:	Ed Reynolds Jr.	Completed:	01/19/2011
Industry:	Attorneys	Service:	Real Estate Due Diligence And Transaction Support Litigation Support
The Reynolds Group has had another relationship with a real estate attorney whose clients are real estate trusts and mid-size financial institutions since 1989. TRG was able to obtain regulatory closure for a case in Cabot Road Road approaching Laguna Hills for a private real estate owner. Most recently, The Reynolds Group was called in to provide transactional advice, tenant audits, and tenant-owner negotiations, and Phase II environmental services that that advance client protection of environmental liability.

Contamination Findings (7362.I)

Client:	ENVIRONMENTAL ATTORNEY
Proj Mgr:	Al Fuan	Completed:	In Progress
Industry:	Attorneys	Service:	Real Estate Due Diligence And Transaction Support Litigation Support
The Reynolds Group is working with an environmental team for a proprietary client on a matter that involves the Orange County Water District and the Santa Ana Regional Water Quality Control Board in Central Orange County. A number of consultants have worked on the project over two decades. The Reynolds Group was the first one to propose linking a number of sites together to look a causation of contamination and reasonable remedies including buyout of the liability. The Reynolds Groups reasonable and measured approach to the project allows its client to satisfy regulatory requirements, plan cash flow, and move toward reasonable, less surprising legal and financial future outcomes.

Former Gasoline Service Due Diligence (7280.II)

Client:	KM EL MONTE INVESTORS
Proj Mgr:	Rosanne Fischer	Completed:	01/20/2008
Industry:	Banks/real Estate Financiers & Investors	Service:	Real Estate Due Diligence And Transaction Support Underground Storage Tank Removals
A nationwide coffee chain was considering purchase of a former gasoline service station parcel in El Monte, California, for redevelopment into a retail coffee house. TRG was contracted to perform a Phase I ESA for the property to determine if any issues of environmental concern existed on or near the property. Although the owner of the property at that time vowed having received regulatory closure following leaking underground storage tanks (USTs) and subsequent remediation at the former gas station, historical research by TRG uncovered that the leaking UST case remained open with the regulatory agency. The real estate transaction was suspended, pending resolution of the open UST case at the property.

Grocery Store Chain Due Diligence (7330.II)

Client:	BIG SAVER FOODS
Proj Mgr:	Rosanne Fischer	Completed:	08/04/2008
Industry:	Banks/real Estate Financiers & Investors	Service:	Real Estate Due Diligence And Transaction Support
TRG was contracted by a large grocery store chain to perform a Phase I ESA at a retail center in La Mirada, California, to determine if any environmental issues were present at the property prior to purchase. During the investigation, TRG determined that a dry cleaner operated adjoining east of the Property for more than 40 years and confirmed that PCE had been used in historical operations at the dry cleaner. Based on that information, the Client chose to implement TRGs recommendation of performing a Phase II subsurface investigation to determine if chlorinated solvents from the dry cleaner had migrated to the subject Property. Results of TRGs soil vapor survey indicated PCE in the Propertys subsurface at concentrations exceeding CHHSLs. It is unknown by TRG if the Client opted to purchase the property or not.

Recycling Center Due Diligence (7310.II)

Client:	NETAFIM
Proj Mgr:	Rosanne Fischer	Completed:	01/02/2008
Industry:	Banks/real Estate Financiers & Investors	Service:	Real Estate Due Diligence And Transaction Support
A Phase I ESA was performed by TRG on a commercial rubber recycling facility in Wasco, California. Results of the investigation indicated very poor housekeeping, including careless storage and disposal of potentially hazardous chemicals, and apparent leaking from an above ground diesel tank onto bare soil. A limited Phase II investigation performed by TRG indicated some petroleum impact in shallow soils, but at concentrations below actionable levels. Within the Phase I/Phase II report, TRG provided the Client with specific guidance in housekeeping and chemical storage practices to prevent future issues of environmental concern at the Property.

County Government Due Diligence (6985.II)

Client:	COUNTY OF RIVERSIDE
Proj Mgr:	Rosanne Fischer	Completed:	08/21/2006
Industry:	Banks/real Estate Financiers & Investors	Service:	Real Estate Due Diligence And Transaction Support
TRG was contracted by a Southland government agency to perform a Phase I ESA at five adjoining parcels in Riverside, California. An auto repair shop operated on a portion of the property at the time of inspection, and a fuel pump repair facility was discovered by TRG to have historical operated on another area of the Property for 20+/- years. Given the property uses, the questionable environmental condition of the property (ie. stained soils in several areas and overflowing oil in secondary containment for an oil tank), the Client elected to perform a Phase II investigation as recommended by TRG. Minor petroleum impact was detected in a few areas of the Property. On behalf of the Client, TRG excavated and disposed of the impacted soils. Post-excavation confirmation soil sampling established that impacted shallow soils at the Property had been successfully removed.

Real Estate Transaction (7410.XI)

Client:	ENVIRONMENTAL ATTORNEY
Proj Mgr:	Ed Reynolds Jr.	Completed:	In Progress
Industry:	Mexico (latin America) Businesses	Service:	Real Estate Due Diligence And Transaction Support
The Reynolds Group worked with an environmental attorney concerning the purchase of property in Mexico. TRG provided information of contamination of concerns for the possible transaction or the property.

Mexico City Phase I (7548.XI)

Client:	CJS COMPANY
Proj Mgr:	Ed Reynolds Jr.	Completed:	01/23/2010
Industry:	Mexico (latin America) Businesses	Service:	Real Estate Due Diligence And Transaction Support
The Reynolds Group performed an informal Phase I Environmental Site Assessment and Building Inspection at an industrial facility in a neighborhood near Tijuana, Mexico. The site previously operated a fiberglass operation for approximately a decade and a half. The Ministry of Environmental Protection of the State of Baja California provided a closure letter that indicated cleanliness of the plant. The Reynolds Group successfully completed the project and recommended that future tenants recognize that the site is certified clean based on the closure letter.

Phase I in Mexico City (7397.XI)

Client:	THE YEOMAN GROUP
Proj Mgr:	Ed Reynolds Jr.	Completed:	03/01/2009
Industry:	Mexico (latin America) Businesses	Service:	Real Estate Due Diligence And Transaction Support
The Yeoman Group, an environmental consulting firm based in Michigan approached The Reynolds Group to perform a Phase I Environmental Site Assessment for a project in Mexico City. Since The Yeoman Group primarily works in Michigan, The Reynolds Group performed a Phase I at a Stampling Plant in Tlalnepantla, a city near Mexico City.

Phase I in Juarez Mexico (6758.XI)

Client:	VERTEX ENGINEERING SERVICES
Proj Mgr:	Ed Reynolds Jr.	Completed:	In Progress
Industry:	Mexico (latin America) Businesses	Service:	Real Estate Due Diligence And Transaction Support
The Reynolds Group was contracted to perform a Phase I Environmental Site Assessment on a site in Ciudad Juarez, Chihuahua, Mexico prior to a production operation of styrofoam packaging. The site was historically virgin land that later improved to an unpaved lot with a constructed building. Based on assessment, there were no recognized environmental conditions found. TRG suggested that a future Phase I ESA be performed after the packaging production operation is initiated to assure that no environmental issues exist from their activities.

Phase II Environmental Site Assessment (7663.IV)

Client:	METROPOLITAN TRANSPORTATION AUTHORITY
Proj Mgr:	Daniel Nunez	Completed:	03/17/2011
Industry:	City, County, State And Federal Agencies	Service:	Real Estate Due Diligence And Transaction Support Site Assessment
The Reynolds Group just successfully completed an environmental screening project with the Los Angeles County Metropolitan Transportation Authority (MTA). MTA is expanding light rail service to Santa Monica from Culver City with the Exposition Phase 2 Light Rail Transit Project (Expo Phase II LRT Project). Part of the project involves acquiring properties along the route. MTA was concerned about possible liabilties associated with the past and present uses of these properties. TRG won the project in a competitive bid process and performed subsurface soil sampling and analyses. The work was coordinated with the businesses operating at the sites and was performed with no interruption to their operations. MTA is completely satisfied with the work, and we are pleased to have them as our client.

Phase I Environmental Site Assessment along I-105 Corridor (7627)

Client:	CITY OF LYNWOOD
Proj Mgr:	Rosanne Fischer	Completed:	11/03/2010
Industry:	Redevelopment Agencies	Service:	Real Estate Due Diligence And Transaction Support
The City of Lynwood Redevelopment Agency hired The Reynolds Group to evaluate using AAI Phase I Environmental Site Assessment Protocol a 13 parcel site that the City was considering purchasing and converting into a park. The adjoining parcels were once part of the Pacific Electric Railroad right of way that contained electrical substations and a highly trafficked railroad. In addition, a number of historical uses in addition to the railroad were noted. The Reynolds Group performed the work on time and on budget.

Environmental Consulting & Environmental Contracting