Press Release: Golf Trust of America Inc.
July 16, 2002
CHARLESTON, SC -- Golf Trust of America, Inc. (AMEX:GTA), a real estate investment trust, announced yesterday that,
on July 12th, it closed on the sale of Bonaventure Country Club for total consideration of $10.5 million to Tavor
Holdings, LLC, a Texas limited liability company.
The Bonaventure Country Club consists of two 18-hole golf courses located in Westin, Florida.
Golf Trust of America, Inc. is a real estate investment trust engaged in the liquidation of its interests in golf
courses in the United States pursuant to a plan of liquidation approved by its stockholders. The Company currently
owns an interest in ten properties (17.5 eighteen-hole equivalent golf courses). Additional information, including
an archive of all corporate press releases, is available over the Company's website at www.golftrust.com.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of
the federal securities laws. Actual results and the timing of certain events could differ materially from those
projected in or contemplated by the forward-looking statements due to a number of factors including general economic
conditions, competition for golf course acquisitions, the availability of equity and debt financing, interest rates
and other risk factors as outlined in the Company's SEC reports.
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Contact:
Golf Trust of America Inc., Charleston
W. Bradley Blair, II or Scott D. Peters, 843/723-4653