Aquila Property Company and KemperSports to lead revitalization of South Florida golf property
WELLINGTON, Fla., Feb. 19, 2007 – Aquila Property Company, a South Florida-based real estate investment and management firm, officially entered an agreement to purchase Binks Forest Golf Club, a once-acclaimed Palm Beach County golf venue, and announced plans to restore the property. Aquila executives also announced they have hired Northbrook, Ill.-based KemperSports, a national leader in golf course management and development, to operate the 18-hole layout in Wellington, Fla.
"We are confident that we have the right team in place to execute Binks Forest’s transformation and return to greatness," said Jordan C. Paul, chairman of Aquila Property Company. "We’re committed to the long-term success of this project. Together with KemperSports, a nationally recognized leader in golf course management, we plan to bring a new and improved jewel back to Wellington."
Though Binks Forest Golf Club has been closed for more than four years, Aquila Property Company plans to build on the club’s early success and re-establish its reputation by instituting a fresh vision and first-rate management team. Originally designed by PGA TOUR professional Johnny Miller and award-winning Florida-based golf course architect Gene Bates, Binks Forest opened in 1990 and quickly gained prominence in the golf industry, including a ranking among Golf Digest’s "Top 75 Public Golf Courses in the United States." Hailed as unique among its Florida counterparts with rich foliage, heavily forested terrain and lush Bermuda grass reminiscent of North Carolina’s Pinehurst, the venue quickly proved itself tournament-ready by hosting a major league event – the 1990 PGA TOUR Team Championship – in its first season.
"We look forward to working alongside Aquila to restore Binks Forest while implementing innovative programs that enhance guest service and course conditioning," said KemperSports President and COO Steve Skinner. "The tremendous high-end growth that has taken place in the Wellington area has made this a very attractive endeavor. Aquila is entrenched in the Wellington community and brings top-notch leadership and foresight to this project. We will fuse our capabilities to make Binks Forest a must-play in South Florida."
In addition to KemperSports’ expertise on the management front, Gene Bates, one of the original architects, will modernize the features and playability of the course, while preserving the integrity of Binks Forest’s original design. Bates, named "Golf Course Architect of the Year" in 2005 by The BoardRoom magazine, has had one of his designs named a "best new" course by national publications such as GOLF Magazine and Golf Digest in each of the past four years.
According to Aquila, the primary focus over the next several months will be on successfully renovating the golf course in preparation for a fall 2007 opening. Future development plans also include building an exclusive 90-unit residential golf course community as well as revamping a 30,000-square-foot clubhouse complete with extensive banquet and meeting facilities and dining establishments, among other amenities.
About Aquila Property Company
Founded in 2000, Aquila Property Company, Inc., a South Florida-based real estate investment and management firm, acquires, rehabilitates, manages and leases commercial properties with value-added potential. Aquila’s principals bring more than 35 combined years of experience as direct principals and senior officers for institutional investors and have been responsible for the acquisition, financing development and management of more than $3.0 billion in real estate transactions throughout the United States. For more information, visit http://www.aquilaproperty.com.
About KemperSports
Northbrook, Ill.-based KemperSports operates golf facilities as well as athletic clubs, lodging venues and major sporting events, including nationally ranked courses and tournament venues such as Bandon Dunes Golf Resort, Dorado Beach Resort & Club, The Glen Club, Gillette Ridge, Harding Park, Bolingbrook Golf Club and Desert Willow. Affiliate KemperSports Marketing & Communications, a sports marketing, events and public relations agency, has produced and managed major national and international events and communications programs, including the EA SPORTS Maui Invitational college basketball tournament and numerous PGA TOUR events. For more information, visit http://www.kempersports.com.
Contact:
Kristin Schaner
847.480.4850
kschaner@kempersports.com
