Source: DPEC Partners
Property Featuring Lodge, Golf Course, Restaurant and Boutique Wine Business Will Carry Algodon Name and Expand
$11 Million Dollars Raised to Expand Algodon Wine Estates
NEW YORK CITY (April 21, 2008) - InvestProperty Group, LLC (IPG) and its Argentine luxury brand, Algodon, have acquired a stake in Viñas del Golf, a well-known wine brand and wine estate property in San Rafael, Mendoza, Argentina. Viñas del Golf was founded and developed by Ricardo Jurado, grandson of celebrated golfer José Jurado, who famously lost the British Open by one stroke in 1931.
The existing property serves as a well-known tourist destination featuring a winery and boutique wine business, lodge, award-winning restaurant, pool, and golf course.
The property, which includes over 2,000 acres, produces many varieties of wine, the largest of which are Malbec and Bonarda. Portions of the vineyards date back to 1946. The grapes are hand harvested and mature in French and American oak barrels. The winery is boutique and its wine is only available in limited quantities. Viñas del Golf wine was launched in the United Kingdom and will soon be available in the United States. Great Wine Capitals, a global wine network, recently honored Viñas del Golf with the 2007 Gold Medal Award for the Best Restaurant Associated with Wine Tourism and the 2007 Silver Medal for Relevant Experiences Associated with Wine Tourism.
Plans for a careful ecological expansion of the estate include a hotel, additional golf courses (36 holes total), a championship tennis complex, polo field, equestrian center and luxury homesites, ranging from two to five acre parcels. Famed Argentine architectural firm, Bormida & Yanzon are designing the master plan for the expansion of Algodon Wine Estates. InvestProperty Group recently raised $11 million from accredited individual investors who are interested in investing in Argentina to fund this ambitious expansion.
Said InvestProperty Group Chairman Scott Mathis, "Viñas del Golf wine estate and wine brand represent the Jurado family tradition of wine making excellence. We at Algodon Wine Estates intend to continue this tradition of excellence and to carefully expand the development of the property and the wine brand, without sacrificing the integrity of the land or the label."
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to Algodon Wines & Luxury Development Group (Algodon Group) and its respective subsidiaries ("the Company") estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date set forth above. The Company undertakes no obligation to update publicly any forward-looking statement, whether because of new information, future events or otherwise.
Eric Stear, Corporate Communications & Marketing Manager
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