WHITEHALL STREET REAL ESTATE LIMITED PARTNERSHIP XI INVESTS IN TROON GOLF

Posted on May 24, 1999

Goldman, Sachs & Co. Controlled Funds Investment will help accelerate growth of Troon Golf

Troon Golf, recognized in the golf industry as the premier luxury branded golf company, announces another bold step towards implementing its vision of golf course development and management in the 21st century. The company announced today that Whitehall Street Real Estate Limited Partnership XI, an affiliate of Goldman, Sachs & Co., purchased approximately one-third of the company.

"We take great pleasure in welcoming Whitehall as our new partner as we prepare for our next phase of growth," said Troon Golf's Chairman and Chief Executive Officer Dana Garmany. "With Whitehall and Starwood Capital as our partners, Troon Golf is equipped with the financial power and operating expertise to carry us into our next growth phase and continue as golf's foremost luxury brand."

Whitehall Street Real Estate Limited Partnership XI, is the sixth in a series of real estate investment partnerships sponsored by The Goldman, Sachs Group, L.P. and its affiliates, and capitalized by Goldman, Sachs & Co. and public and private investors. During the past five and a half years, The Whitehall Street Real Estate Limited Partnerships have invested approximately $5.7 billion of equity in 193 separate investments with an all-in cost of approximately $18.2 billion (including leverage). Whitehall has approximately $1.2 billion of uncommitted capital.

Founded nearly 10 years ago by Dana Garmany, Troon Golf is dedicated to providing its customers with an unparalleled level of service and agronomic conditioning with the goal of creating the ultimate upscale golf experience. With its first facility being the widely acclaimed Troon North Golf Club in Scottsdale, Arizona, the Troon Golf portfolio now includes four and five star public and private golf facilities throughout the United States, Great Britain, and Australia.

Based in Scottsdale, Arizona, Troon Golf oversees the operation of more than 40 golf courses located in 10 American states, Australia and Great Britain. The company's portfolio of prestigious facilities includes: Turnberry Hotel, Golf Courses and Spa, Ayrshire, Scotland; Troon North Golf Club, Scottsdale, Arizona; Eagle Ridge Inn and Resort, Galena, Illinois; Yarra Yarra Golf Club, Melbourne, Australia; The Westin La Paloma, Tucson, Arizona; The Westin Mission Hills Resort, Rancho Mirage, California; The Westin La Cantera Resort, San Antonio, Texas and The Westin Innisbrook Resort, Tarpon Springs, Florida. Troon Golf, recognized in the golf industry as the premier luxury branded golf company, announces another bold step towards implementing its vision of golf course development and management in the 21st century. The company announced today that Whitehall Street Real Estate Limited Partnership XI, an affiliate of Goldman, Sachs & Co., purchased approximately one-third of the company.

"We take great pleasure in welcoming Whitehall as our new partner as we prepare for our next phase of growth," said Troon Golf's Chairman and Chief Executive Officer Dana Garmany. "With Whitehall and Starwood Capital as our partners, Troon Golf is equipped with the financial power and operating expertise to carry us into our next growth phase and continue as golf's foremost luxury brand."

Whitehall Street Real Estate Limited Partnership XI, is the sixth in a series of real estate investment partnerships sponsored by The Goldman, Sachs Group, L.P. and its affiliates, and capitalized by Goldman, Sachs & Co. and public and private investors. During the past five and a half years, The Whitehall Street Real Estate Limited Partnerships have invested approximately $5.7 billion of equity in 193 separate investments with an all-in cost of approximately $18.2 billion (including leverage). Whitehall has approximately $1.2 billion of uncommitted capital.

Founded nearly 10 years ago by Dana Garmany, Troon Golf is dedicated to providing its customers with an unparalleled level of service and agronomic conditioning with the goal of creating the ultimate upscale golf experience. With its first facility being the widely acclaimed Troon North Golf Club in Scottsdale, Arizona, the Troon Golf portfolio now includes four and five star public and private golf facilities throughout the United States, Great Britain, and Australia.

Based in Scottsdale, Arizona, Troon Golf oversees the operation of more than 40 golf courses located in 10 American states, Australia and Great Britain. The company's portfolio of prestigious facilities includes: Turnberry Hotel, Golf Courses and Spa, Ayrshire, Scotland; Troon North Golf Club, Scottsdale, Arizona; Eagle Ridge Inn and Resort, Galena, Illinois; Yarra Yarra Golf Club, Melbourne, Australia; The Westin La Paloma, Tucson, Arizona; The Westin Mission Hills Resort, Rancho Mirage, California; The Westin La Cantera Resort, San Antonio, Texas and The Westin Innisbrook Resort, Tarpon Springs, Florida.
Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now

×