OCALA, FL — March 1, 2006 — WCI Communities, Inc. (NYSE:WCI), an award-winning builder and developer of luxury communities, today joined with the Castro family and Rees Jones in the management of Golden Hills Golf & Turf Club. The association between this nationally recognized, publicly traded company and the current partnership of Rees Jones and the Castro family is the result of negotiations between WCI executives and the Castro partnership.
Regarding the negotiation, Bernadette Castro commented, "As when we joined with Rees Jones, we insisted on partnering with only the best in the field. WCI has the finest reputation among luxury homebuilders, and we look forward to at least a four-year association with this fine company. We are also very pleased to be working with WCI on the development of the 35-acre commercial tract that annexes the future 600-acre WCI luxury development on U.S. 27, formerly the Mangurian property. We anticipate that both the new WCI club and Golden Hills will operate as reciprocal clubs in the future."
Rees Jones, world-renowned architect and co-owner of the Golden Hills Golf & Turf Club, added, "WCI’s outstanding reputation in developing high end golf course communities sets the stage for a partnership befitting of Golden Hills with its magnificent course layout and elegant clubhouse. With the additional capital, we will continue to enhance the golf experience at this wonderful, traditional golf club."
David Fry, WCI’s Chief Operating Officer for Traditional Homebuilding and Real Estate Services, added, "The Golden Hills Golf & Turf Club owned by the Castro family and Rees Jones offered us a second opportunity to establish a foothold in the prestigious U.S. 27 corridor. It is not often you get a chance to work with people who possess such great vision and integrity. We look forward to a long relationship."
Background:
David L. Fry is WCI’s Chief Operating Officer for Traditional Homebuilding and Real Estate Services, with responsibilities for all of WCI’s traditional homebuilding operations nationwide, as well as the Prudential Florida WCI Real Estate brand as well as WCI Title and WCI Mortgage. Mr. Fry joined WCI in 1995, and has more than 20 years of experience in the golf and country club industry. Over the years, Mr. Fry has negotiated alliances with some of the greatest names in golf, including Tom Fazio, Greg Norman, Pete Dye, Raymond Floyd, Jerry Pate and Peter Jacobson. He has a degree in Golf Management and has also been an executive with South Seas Report Company.
WCI’s Amenities Division currently owns and operates more than 400 holes of golf and several marinas, as well as country club operations. WCI has had successful strategic partnerships with The Ritz-Carlton, Hyatt Regency, Starwood Hotels & Resorts and Regent International Hotels.
Bonita Springs, Florida-based WCI offers numerous Tower and Traditional Homebuilding communities in more than 10 Florida counties, and in Connecticut, Maryland, New Jersey, New York and Virginia.
For more information on Golden Hills or WCI Communities, call 352-629-7981 or visit www.goldenhillscc.com or www.wcicommunities.com
Contact:
Chris Wilson
(352) 629-7981
Kyle Reinson
(561) 630-4227 (WCI)
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