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T-Rex Capital and ZAIS Group Enter Into a Joint Venture on Whiteface Lodge Transaction
7/18/2007
T-Rex Capital, LLC, a leading
developer of residential, fractional and commercial properties, announced a
joint venture into its Whiteface Lodge acquisition whereby ZAIS Group, LLC,
an international investment management firm based in Red Bank, NJ, will
partner with T-Rex Capital in the equity recapitalization for the
world-class property. The Whiteface Lodge is a luxury resort and private
residence club located in the Adirondacks' Lake Placid.
The Whiteface Lodge Resort and Spa opened in 2005 and has already been
lauded by Robb Report as one of only two resorts in North America as 2006
'Best of the Best'; Conde Nast's 2006 'Hot List' as one of the best new
hotels in the world; recently awarded the distinguished Four Diamond Award
by the American Automobile Association; awarded Leading Hotels of the World
status; and recommended by Virtuoso.
"We are excited to be joined in the ownership of one of the preeminent
resort facilities in the country," said Tom Mulroy, CEO of T-Rex Capital.
"The ZAIS Group shares our passion for The Whiteface Lodge and our desire
to keep improving it." ZAIS Group acquired its interest via the recently
launched ZAIS Value-Added Real Estate Fund I.
Styled after the historic Great Camps of the Adirondacks, The Whiteface
Lodge is an elegantly handcrafted retreat that features luxuriously rustic
accommodations, world-class dining and spa services. Its unique
architecture, design, interiors and renowned service attract discerning
guests and potential owners, instilling in them the desire to return again
and again.
For more information on the Whiteface Lodge Resort and Spa visit
http://www.thewhitefacelodge.com.
About T-Rex Capital, LLC
Founded in 1999, T-Rex Capital is a preeminent developer of
residential, commercial and government properties throughout the United
States and is headquartered in Stamford, CT with offices in Washington D.C.
and Boca Raton, FL. In 2006, T-Rex announced plans to build an
environmentally friendly residential, commercial and marina development in
the Coral Bay Quarter of St. John, US Virgin Islands. http://www.trexcapital.com
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