2014

Laurus Corporation Completes Acquisition of the Doubletree Golf Resort San Diego, CA

LOS ANGELES, May 12, 2011 /PRNewswire/ -- Laurus Corporation ("Laurus") is pleased to announce that it successfully completed the acquisition of the Doubletree Golf Resort in San Diego, CA earlier this week.

(Photo:  http://photos.prnewswire.com/prnh/20110512/LA01440)

(Logo:  http://photos.prnewswire.com/prnh/20061212/LAURUSLOGO)

Located on an expansive 130-acre site, the 174 room hacienda style resort features an 18-hole, par 72 championship golf course and is located in the rapidly growing North County Region of San Diego, one of the country's top visitor destinations. The Doubletree San Diego Resort is an ideal group destination and features over 18,000 square feet of flexible meeting space. The resort also includes two food and beverage outlets, Terrace Cafe and Mulligan's Sports Lounge, as well as five tennis courts and a fully equipped 5,500 square-foot health and fitness club.

The new owners intend to implement a property repositioning plan that includes a substantial renovation program to upgrade the resort - giving the property a fresh start, seeking its landscaping inspiration from the surrounding beauty of its Southern California legacy. Renovations will include a reconfiguration of the lobby to provide a chic sense of arrival, pool deck upgrades to enhance the resort experience, and guest room makeover.  The restaurants will also be revamped with "al fresco terrace dining" to take advantage of the beautiful surroundings and visitors will rejuvenate in a newly constructed SPA while golfers will enjoy an upgraded and expanded Pro Shop.  Given the property's many amenities, it is ideal for leisure and corporate events, weddings, and other group businesses and its ballroom is receiving a significant facelift.  In all, the repositioning is focused on the resort's characteristics being emphasized to an elevated level, with an aim for total guest satisfaction for hospitality, dining and golf.

SD Golf Resort Partners, LLC was formed as an investment vehicle to acquire and reposition the property.  The partners behind the entity have over 60 years of real estate development experience through a variety of entities and corporations, and their portfolio of holdings includes resorts, hotels, office buildings, shopping centers and residential developments.

Laurus Corporation is a boutique style domestic and international real estate development company that specializes in hotels and resorts, master plan communities, mixed-use properties, multifamily and office buildings. The Company coordinates activities, converting ideas from paper into real property.  It creates, manages, develops, and orchestrates key partnerships while achieving significant returns for its investors.

www.lauruscorporation.com

SOURCE Laurus Corporation



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