|
|
NEWPORT BEACH, Calif., July 6, 1998 - KOLLSTAR Golf
Company, an owner, developer and manager of high-end golf courses, and
The Stonebridge Group, a real estate company specializing in golf course
development and construction, have established an alliance to build and
acquire high-end, daily fee courses.
KOLLSTAR and The Stonebridge Group together will construct new courses in high profile locations, according to Joe Woodard, CEO of Newport Beach-based KOLLSTAR. KOLLSTAR was formed in February of this year as a joint venture between Koll Resorts International, a member of the Koll family of real estate companies specializing in planned golf resort communities, and NorthStar Capital Investment Corp, a New York investment banking firm. The Stonebridge Group, according to Woodard, will use its expertise in both development and construction, combined with its extensive experience and network of local contractors, to act as the building arm for the group's new golf courses. KOLLSTAR will utilize its golf course management and resort development expertise to enhance the venture's acquisitions. Jointly, the two companies expect to roll out three to five new golf courses per year. "Our goal with this joint venture is to grow KOLLSTAR through the development of championship quality golf courses in high-profile communities," said Woodard. "This alliance with The Stonebridge Group allows KOLLSTAR to significantly augment its capability to reach this goal." The Stonebridge Group Based in Salt Lake City, Utah, The Stonebridge Group, through its principals, has provided construction, engineering and consultation services on more than 100 golf courses and hundreds of commercial developments throughout the United States. Many of The Stonebridge Group's golf courses have been high-end, daily fee projects located in the western U.S. and include such well-regarded courses as Desert Canyon Golf Course in Columbia, WA, Wingpointe Golf Course in Salt Lake City, UT and The Course at Wente Vineyards, a Greg Norman-designed course cut out of an active winery in Livermore, CA. "KOLLSTAR accelerates the expansion of our development and construction efforts," said Richard Haws, chairman and president of The Stonebridge Group. "We are able to focus on the complex development process while KOLLSTAR provides the financial and management support." The key principals of The Stonebridge Group are co-chairmen Earl S. Kemp, Richard A. Haws and, director of development, Gary Stapley. KOLLSTAR Golf Company KOLLSTAR owns, operates and manages five golf courses in the U.S. and
Mexico. Most recently, KOLLSTAR purchased the 36-hole Tennwood Golf
Course facility in Houston, Texas. It was repositioned to a high-end
daily fee facility and renamed "Houston Oaks Golf Club."
|
|