Fairmont Tamarack Sells Out Initial Pre-Construction Real Estate Offering Totaling $140M

125 Condominium and Hotel Condominium Units Sold in Less than Seven Hours

    TAMARACK, Idaho, March 22 /PRNewswire/ -- Fairmont Tamarack, a joint
 venture development between Andre Agassi and Stefanie Graf's Agassi Graf
 Development and Bayview Financial, L.P.'s Real Estate Investment Group
 released its first 125 pre-construction units on Saturday, selling out in
 fewer than seven hours. Fairmont Tamarack is planning a second release in
 late summer prior to breaking ground in late fall or early winter of this
 year. Upon its expected completion in 2010, Fairmont Tamarack will mark the
 first luxury hotel flag in the state of Idaho and will seek to be only the
 fifth five-star property in a United States mountain resort.
     The sales event marked yet another milestone in the growth of the
 blossoming Tamarack Resort, an all-seasons jewel in Idaho located just 90
 miles north of Boise (Sun Valley is 160 miles east of Boise). Prior to the
 Fairmont Tamarack sales event, Tamarack Resort had six consecutive real
 estate sell outs dating back to January 2004. Between January 2004 and
 April 2006, 531 properties have been sold ranging from condominium units to
 single-family chalet and cottage dwellings to estate homes and lots.
     The success of the resort and its real estate has surprised many,
 particularly in the current market, but as Lynn Wiener, a buyer in the
 first release, commented, "I've watched the development of other resorts
 like Vail, Beaver Creek and Telluride and realized the opportunity to
 become involved in a young resort so early on doesn't come around very
 often." In fact, Tamarack Resort is considered the first master planned
 all-season resort developed in more than 23 years. Andre Agassi, standing
 in front of his buyers at an event on Saturday night echoed a similar
 sentiment, "It's not often at this stage of your life that you have the
 chance to truly do something for the first time. All of us, including
 Stefanie and me, are playing a vital role in shaping the personality and
 culture of this young community at Tamarack, and this is something we
 should all be very proud of and excited about."
     Now in only its third year of operation, Tamarack Resort is gaining
 national and international acclaim for its ski mountain, 30,000 acre lake
 and award-winning golf course (named America's Best New Course in its
 category by Golf Digest for 2006), as well as America's celebrity and
 athlete community with musicians, actors and athletes purchasing units in
 the first release of Fairmont Tamarack.
     Fairmont Tamarack Contact:           Tamarack Resort Contact:
     Brian Gordon                         Jessica Flynn
     Miami Marketing Group                Tamarack Resort
     305-534-7101                         208-830-4037
 
     Bayview Financial, L.P.
     Headquartered in Miami, Bayview Financial, L.P. is a privately held
 full- service real estate investment and mortgage finance firm. It's an
 investment firm dedicated to using its own capital to make long-term
 investments for its portfolios, Bayview Financial, L.P. has a disciplined
 approach to underwriting, quality control and loss mitigation. Bayview
 Financial, L.P. has repeatedly demonstrated the value of these
 characteristics by differentiating itself in a crowded marketplace and
 generating tangible benefits for its clients. The clearest evidence of
 Bayview Financial, L.P.'s success is its track record: Since 1998, Bayview
 Financial, L.P. companies have issued more than $23.8 billion in
 asset-backed securities, consisting of loans acquired from third parties
 and loans originated in house. In 2006, the firm delivered acquisition and
 origination volume of approximately $4.8 billion. Today Bayview has more
 than $10 billion in assets, making it one of the largest financial
 institutions in the state of Florida. Currently the real estate division
 has over $1.5 billion in active developments.
     Agassi Graf Development LLC
     Agassi Graf Development LLC is a real-estate development company
 focused on the creation of luxury, resort and lifestyle-oriented offerings
 in partnership with the industry's leading developers and brands. The
 company specializes in developing the design and overall lifestyle
 component of real- estate offerings under the direction and vision of Andre
 Agassi and Stefanie Graf.
     Tamarack Resort
     Tamarack Resort, the first all-season resort to open in the U.S. in
 more than two decades, has received national attention for its world-class
 mountain for skiing, hiking and mountain biking; Osprey Meadows, an
 award-winning Robert Trent Jones, Jr., signature golf course; and beautiful
 Lake Cascade, suitable for swimming, sailing, fishing, sea kayaking, and
 boating. A key element of the Tamarack community is The Club at Tamarack
 for homeowners, their families and guests. Nestled in Idaho's Payette River
 Mountains, Tamarack is a luxury boutique resort with a variety of lodging
 options all within walking distance of the four season amenities.
 
 

SOURCE Fairmont Tamarack