Company Press Release: Stone Island Development
February 3, 2000
MAZATLAN, Mexico -- One of Mazatlan's newly developing vacation destinations is Estrella del Mar Golf and Beach
Resort Community, a guard-gated, $500-million master-planned residential/resort project that lies just 10 minutes
southwest of the International Airport and features miles of secluded and secure white sand beaches.
Golf enthusiasts looking to find the ultimate golf vacation will enjoy being a guest of Estrella del Mar's charming
boutique hotel, Las Villas de Estrella, a beachfront retreat with an infinity-edge swimming pool that overlooks
the ocean. Special golf packages include the choice of a regular room and a single round of golf for as little
as $185 per night. Suites with an ocean view and round of golf are available from $210 per night, per person. For
those wanting to improve their game, golf instruction packages from the world-renowned John Jacobs' Golf School
are available for all skill levels. Special one-day packages are also available for cruise ship passengers and
local visitors.
The golf course at Estrella del Mar has quickly become recognized as one of Mexico's premier courses being praised
for its beauty, playability and well-manicured fairways and greens. The championship course was designed by Robert
Trent Jones, Jr. and plays from four tees ranging from 5,000- to 7,003-yards. Estrella del Mar is a mature course
featuring 175 acres of lush turf and wide-grass fairways. The golf facilities include an 8,000-square- foot clubhouse
with a bar and grill.
Estrella del Mar is a developing resort and later this year work will commence on a 200-room hotel with a full-range
of guest amenities. The new hotel will be operated by Hilton and will be open for the 2001 tourist season. Additionally,
for those interested in owning a vacation home in Mazatlan, the resort community is currently selling its first
phase of homes. At its completion, there will be 1,300 for-sale residential units offering fee-ownership with title
insurance provided by large US-based title insurance company.
``Access to Mazatlan and its numerous, superb attractions makes Estrella del Mar one of Mexico's prime resort destinations,''
said Vince Carrozza, general manager for Estrella del Mar. ``For those who want to venture out and explore the
area, Estrella del Mar is secluded but only a short distance from one of the world's most popular tourist destinations.''
Estrella del Mar is located 8 miles southeast of historic, Old Mazatlan. The city is 400 years old and was founded
by Spanish conquistadors in 1534. Much of Mazatlan's historic urban core is being revitalized and provides hours
of exploration opportunities among quaint shops and delightful restaurants.
Hotels, bars, bistros and boutiques crowd the seaside neighborhood known as the Zona Dorada or ``Golden Zone.''
A wide-selection of discos and nightclubs are visited by international tourists.
Mazatlan claims to have the largest sports-fishing fleet in Mexico. Anglers enjoy year-round fishing opportunities
that begin with marlin season in January. Sailfish are season less, as well as Dorado, sea bass, yellow fin tuna
and bonito. Other spectator sports for the adventuresome include bullfighting and baseball. A visit to Acuario
Mazatlan, is a must. The city's aquarium houses Latin America's finest collection of marine life and fish featuring
over 250 species.
Developer Background
Estrella del Mar Golf and Beach Resort Community is a $500-million project of Stone Island Development, a joint-venture
between The Martori Group and William E. Simon & Sons Realty, a private real estate investment firm and an
affiliate of the merchant banking firm of William E. Simon & Sons. Sales and marketing are directed by California-based
Sierra Pacific Management.
Stone Island Development group's managing principal, Art Martori, has participated in numerous resort and luxury
living projects including the 2,500-acre Telluride Ski Resort in Colorado; the 200-acre, 36-hole Arizona Biltmore
Golf Course; the 4,800-acre Foothills development in Phoenix; and the 5,000-acre Arrowhead Ranch in Arizona.
Simon Realty is a private real estate firm that invests in a variety of real estate product types and markets worldwide.
Based in Los Angeles, California, Simon Realty seeks out opportunistic and value-added investments, oftentimes
through joint ventures with experienced local developers and operating partners. Estrella del Mar marks the second
Latin American resort investment for Simon Realty. Last year, the firm announced a major investment in Los Suenos,
the premier destination resort community on the Western Coast of Costa Rica.
Sierra Pacific has quickly become recognized as an exceptional, full-spectrum development management firm and has
established a reputation as a leader in residential sales and marketing. Collectively, Sierra Pacific's management
team includes the development, sales and marketing of more than 8,000 residential lots in the US and Mexico.
For more information on Estrella del Mar, please call the resort community's on-site sales office toll-free at
(888) 587-0609 from the US, or from either Mexico or the US call 52-69-82-33-00.
SOURCE: Stone Island Development