Andre Agassi and Stefanie Graf Finalize Agreement to Develop
a Luxury Mountain Project, Fairmont Tamarack,
at Idaho's Tamarack Resort
September 6, 2006 - Andre Agassi and Stefanie Graf, through their company Agassi Graf Development LLC, and Miami-based Bayview Financial LP(R), finalized an agreement to develop a luxury mountain project, Fairmont Tamarack, at Tamarack Resort, located in Donnelly, Idaho -- the nation's newest all-season resort. Fairmont Hotels & Resorts will manage the luxury hotel and residences, featuring two locations: a classic resort and spa located in Tamarack's village and a mid-mountain site. This development will be the pinnacle hotel offering at the resort. Sales are expected to begin in the first quarter of 2007 with the development's completion anticipated in 2009.
In addition to being financial investors in the project, Agassi and Graf will be active in the development, design and overall lifestyle offering, working closely with joint venture partners Bayview Financial LP(R), design team Wilson & Associates and architectural firm VAg, Inc. The couple chose Tamarack for their first lifestyle development because of its stunning natural surroundings, ideal not just for skiing but for the unparalleled active outdoor lifestyle it offers.
"Tamarack is the perfect location for anyone interested in taking a little time out of their lives to get away or spend quality time with their family," said Agassi. "Our vision is to create an exceptional lifestyle offering that complements the natural beauty and uniqueness of the resort. It's about bringing the highest standard of quality and luxury to the whole experience."
Fairmont Tamarack's village location, "Belvedere Ridge" will feature approximately 285 units (hotel, condo and penthouse residences), with scenic views of Tamarack's mountain, championship golf course and Lake Cascade. Belvedere Ridge will also have a private residence club including a Fairmont Willow Stream spa. "Whitewater" -- the resort's mid-mountain location -- will feature an estimated 50 private residences, all offering ski-in/ski-out access. Whitewater will offer a personal concierge, a semi-private restaurant and an outdoor deck with stunning mountain and lake views.
To design the project, Agassi/Graf and Bayview Financial LP(R) selected internationally renowned interior architectural design firm Wilson & Associates, whose varied and global projects include: The Palace of the Lost City in South Africa; Las Ventanas al Paraiso in Cabo San Lucas; Atlantis Resort at Paradise Island, Bahamas and many well-known properties in Las Vegas such as The Venetian and The Mansions at MGM. Also collaborating on the project is Colorado-based architecture firm VAg, Inc., which specializes in residential resort architecture and prides itself on environmental awareness, a critical aspect to the long-term vision at Tamarack, and a shared focus for both architecture firms. Wilson & Associates' work at Tamarack will incorporate natural materials and the use of local artisans.
Fairmont Tamarack is now taking reservations, with sales expected in the first quarter of 2007. For more information, visit http://www.fairmonttamarack.com/.
About Agassi Graf Development LLC
Agassi Graf Development LLC is a real-estate development company focused on the creation of luxury, resort and lifestyle-oriented offerings in partnership with the industry's leading developers and brands. The company specializes in developing the design and overall lifestyle component of real-estate offerings under the direction and vision of Andre Agassi and Stefanie Graf.
About Bayview Financial LP(R)
Operating from its headquarters in Miami, Florida, for over 20 years, Bayview Financial LP(R) is a full-service real estate investment, development and mortgage finance company that specializes in meeting the needs of real estate investors, mortgage companies, banks, savings institutions, and loan and securities brokers.
About Fairmont Hotels & Resorts
Featuring a collection of secluded lodges, ski resorts, fabled castles and modern retreats, Fairmont Hotels & Resorts opens the doors to some of the world's most celebrated addresses. With locations throughout ten countries, our 51 distinctive hotels -- including The Fairmont San Francisco, The Fairmont Chateau Whistler and London's Savoy -- promise travelers rich experiences and lasting memories in unparalleled settings. Committed to growing its portfolio of world-class hotels, Fairmont will soon reflag five hotels in Kenya and anticipates the 2007 re-opening of New York's famed Plaza Hotel. Future Fairmont Hotels & Resorts also include locations in Cairo, Turks & Caicos, Abu Dhabi and Dubai's Palm Island. Fairmont Raffles Holdings International owns and operates 120 hotels worldwide under the Fairmont, Raffles, Swissotel and Delta brands. Fairmont Heritage Place is an exclusive private residence club collection offering vacation home ownership in some of the world's most sought after locations including Telluride and Acapulco, with planning is underway for Fairmont Heritage Place homes in Idaho's Tamarack Resort, Turks & Caicos, and Zimbali, South Africa. For more information or reservations, please call 1-800-441-1414 or visit http://www.fairmonttamarack.com/.
About Tamarack Resort
Tamarack Resort, the first all-season resort to open in the U.S. in 24 years, has received national attention for its world-class mountain for skiing, hiking and mountain biking; Osprey Meadows, a Robert Trent Jones, Jr., signature golf course; and beautiful Lake Cascade, suitable for swimming, sailing, fishing, sea kayaking, and boating. A key element of the Tamarack community is The Club at Tamarack for homeowners, their families and guests. Nestled in Idaho's Payette River Mountains, Tamarack is a luxury boutique resort with a variety of lodging options all within walking distance of the four-season amenities. For more information, please call 877-TAM-RESORT or visit http://www.tamarackidaho.com/.
Lori Holland for Fairmont Hotels &Resorts, +1-212-715-7098, or Jessica Flynn for Tamarack Resort LLC,+1-208-489-1400