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Kingsbarns Golf Links (Cambo)
Opportunity fund manager secures co-controlling interest in KGL - terms of deal not disclosed
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St Andrews bound

Golfstyles, Boston, August 2005

Wasserman Real Estate Capital, a Providence, R.I.-based developer and opportunity fund manager, has announced that it has secured a co-controlling interest in Kingsbarns Golf Links, the inspired stretch of golfing linksland that runs along the coast just south of St. Andrews, Scotland.

Wasserman also recently introduced plans for developing the St. Andrews Grand at the Old Course, an exclusive enclave of 23 luxury residences. Renovation plans for St. Andrews Grand will be reminiscent of the historical Grand Hotel, today known as Hamilton Hall and the only residence located adjacent to the 18th green at The Old Course.

"We are as much in awe of the Kingsbarns Golf Links course as we are of the future site of the St. Andrews Grand," says David Wasserman, principal of Wasserman Real Estate Capital, LLC. "Together these two projects fulfill a unique sporting experience in St. Andrews. These projects are just the beginning of our commitment to development and expansion in the United Kingdom."

While terms of the deal were not disclosed, Wasserman noted that his company will maintain the impeccable reputation of the course as well as its first-class management team. Kingsbarns, which opened in July 2000, has earned top ratings for golf course design. The par 72 course, which extends to 7,126 yards from the championship tees, features dramatic sea views along 1.5 miles of scenic coastline.

"There is a synergy between both Kingsbarns and St. Andrews Grand, highlighted around the land's unique character and offerings," says Wasserman. "But beyond golf, you can tour the old country and visit historical castles, embrace the great outdoors, hunt, fish, and hike or enjoy Fife's beach and bike trails which wind along the coast."

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