Pine Street Partners, Inc. Real Estate Advisory and Transaction Services

Boot Ranch Clubhouse Village
Fredericksburg, Texas

Boot Ranch Closes on Record Lot Sales of $5.4 Million in 30 Days

Boot Ranch Golf Club (Fredericksburg Texas) closes on record sales of $5.4 million from mid-July to mid-August 2011.

Fredericksburg, TX, September 14, 2011 --(PR.com)-- Boot Ranch is on a record pace for lot sales closings totaling $5.4 million in real estate transactions from mid-July to mid-August this year. An additional $4 million in real estate reservation agreements are booked to be closed in the next 30 to 90 days.

In addition, 18 non-resident golf and non-resident social memberships were sold in the same period at a cost of $100,000 and $25,000 respectively each. The club now has 112 members overall.

"I don't know of another such master planned community project in the Hill Country, nor necessarily in the entire United States, that has had this volume in closings in such a short period, in this economy," said Chuck Perry, of Pine Street Partners, the asset managers for Boot Ranch. "Boot Ranch is definitely a hot property again. We have tremendous pent-up demand here. At this point all obstacles have been removed from our sales effort and we can now move forward successfully."

The development will have a total of 387 lots on 2,051 acres and includes a championship golf course designed by famed golfer Hal Sutton. Lots average 5 acres at an average price of $500,000.

Boot Ranch announced today that real estate sales have resumed effective immediately.

The upscale, 2,050 - acre golf com- munity in Fredericksburg, Texas has long been recognized as one of the most spectacular projects in the State, and with the recent upswing in this real estate market, full-scale sales efforts are again underway.

"Boot Ranch is back," said Charles Perry of Pine Street, Inc., the Asset Manager for Boot Ranch. " We've just completed an extraordinary $30 million clubhouse village which will have a 'soft opening' tomorrow, March 2nd.

The golf course is in spectacular condition, and we have a substantial backlog of buyers who have been waiting for us to resume sales and start closings on contracts. It's going to be an exciting Spring for us, and the project is positioned in every way to fulfill the original vision which enticed so many of our buyers."

The project, where sales had been put on hold during the recent downturn, has re-emerged far stronger. "I like to say that it's always a great day to be
a member of the Boot Ranch family, but today is an especially great day for our property owners, club mem- bers, employees, and our prospective buyers."

One of the most significant improve- ments at Boot Ranch is the comp- letion of a 55,000 square foot, $30 million clubhouse "village", which now includes six buildings in a village-type setting. Ten luxurious "lodge" rooms were added for overnight guests, as well as an Aveda spa fitness facility, ladies custom lockers and lounge, and greatly expanded dining facilities. Mike Marsh was the architect of the clubhouse village and he has advised that this is the finest new clubhouse facility opened in the country in the last few years. It has been described as truly second to none.

Boot Ranch will eventually consist of 387 lots and include the renowned Sunday House residential concept which has been very well received. Other substantial and recent im- provements include a fully operational 9-mile pipeline bringing treated effluent from Fredericksburg for golf course irrigation.

With this infrastructure in place, lot sales are ready to resume.

The existing club has a number of high profile members including former President George H.W. Bush; pro golfer Hal Sutton (14-time winner on the PGA Tour, and now playing on the Champions Tour); Jackie Burke (former Masters champion); Cameron Beckman (PGA player from San Antonio); Sandy Weill (retired CEO of Citigroup); and Pat Green (musician). A recent new member is Dr. David Cook, author of the popular golf book "Golf's Sacred Journey - Seven Days in Utopia" based in the Texas Hill Country. His book has been made into a movie called "Seven Days in Utopia" starring Robert Duvall (Lonesome Dove) and Lucas Black (Friday Night Lights). The movie was partially shot at Boot Ranch and is scheduled for release this August.

"Hal Sutton has designed one of the great golf courses in Texas. The clubhouse is just as spectacular," said Perry. "It sits on a bluff at 2,000 foot elevation with spectacular long-distant Hill Country views in every direction. It will literally take your breath away. This is truly one of the great private clubs in the country. We are already booking for large business gatherings and hosting other events to showcase the facility." The new clubhouse will open in March and will have its grand opening in April.

Pine Street is a national real estate management, advisory and trans- action firm with extensive experience managing upscale communities. They were retained by Lehman to be Asset Manager for Boot Ranch.

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Specializes in Asset Management through innovative, pioneering Asset Preservation and Enhancement. Initially, we stabilize operations by mitigating negative cash flow. Ultimately, we revision the project in light of current market demand and orchestrate an orderly disposition of the property. This is Asset Management at the highest level and Pine Street has been doing this for over 20 years.

Provides investment, advisory and transaction services in the resort, private golf club, high-end residential community development and hospitality industries.

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