Major Expansion Approved for Vineyard Resort Development in Mendoza, Argentina
Source: DPEC Partners
Expansion is Part of a "Green," Five-Year Development Plan
NEW YORK CITY (May 16, 2008) - The municipality of San Rafael, Mendoza, Argentina, has approved a major expansion plan for Algodon Wine Estates, a winery and luxury resort property in Argentina's scenic wine country.
The announcement was made by Scott L. Mathis, Chairman of the property's developer and owner, InvestProperty Group, LLC. Based in New York, IPG (www.investpropertygroup.com) allows accredited investors in the U.S. to participate in institutional-quality real estate investments.
The over 2,000-acre Algodon Wine Estates currently is currently home to a boutique winery, traditional Mendocinian lodge, clubhouse, award-winning restaurant and a nine-hole golf course, all located at the foothills of the Sierra Pintada Mountains. The property is located a short distance from downtown San Rafael as well as the major regional airport.
The approved expansion plan includes:
o Four distinctly different villages;
o A premium luxury hotel;
o Two world-class 18-hole golf courses;
o A polo field, equestrian center, and numerous riding trails and pastures;
o A lavish wellness spa;
o Two swimming pools;
o 11 championship tennis courts;
o Over 200 vineyard homesites (between one and fifteen acres) and 50 villas.
"We're very excited to be on our way to creating Argentina's most significant wine, golf and residential estate community. We believe the demand is strong: Argentina is a world-class destination, now attracting luxury, rather than ‘backpacking', visitors. We're convinced that Algodon Wine Estates represents not only an exciting opportunity for world travelers who appreciate gorgeous rustic scenery, great wine and food and outdoor activities, but also investors who understand Argentina's advantages, especially at a time when U.S. property and capital markets are uncertain. Argentina's advantages include undervalued property in a sought-after, high-profile location; healthy hotel and lodging rates; and a currency situation in which the dollar still goes far," said Scott Mathis, founder and chairman of IPG.
All development at Algodon Wine Estates will be executed from an ecologically and environmentally friendly perspective. This includes photovoltaics, solar hot water, wells, water reservoirs, and greywater and blackwater waste treatment systems. Additionally, the estate plans to accommodate for food self-sufficiency utilizing the vast cropland.
About InvestProperty Group/Algodon Wine & Golf Estates
InvestProperty Group, LLC (IPG) is affiliated with Diversified Private Equity Corp. (DPEC Partners), a New York City-based integrated company whose businesses bring entrepreneurial, private equity and institutional-quality investments to accredited individual investors. Qualified investors participate in IPG and other DPEC-offered investments via DPEC's wholly owned registered broker-dealer, DPEC Capital, a FINRA member firm. DPEC Capital focuses principally on opportunities created by DPEC companies. InvestProperty Group is developing Algodon Mansion, a luxury hotel in the Recoleta neighborhood of Buenos Aires. It will have ten luxury suites and is scheduled to open in December 2008. Algodon is a luxury brand that IPG created for its Argentine properties and opportunities including Algodon Wine Estates and Algodon Mansion.
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 Partners) 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.