Pine Forest Country Club and Crowfield Golf and Country Club Located in the Heart of Greater
Charleston
Press Release
October 27, 1999
NEW YORK, NY -- Kennedy-Wilson Inc. (Nasdaq NM: KWIC), an international real estate investment, marketing and property
management firm, announced today that it has been hired exclusively to sell the Charleston Golf Portfolio. The
Pine Forest Country Club and the Crowfield Golf and Country Club are both located in the golf haven of Charleston,
South Carolina and feature 18-hole championship golf courses.
``The portfolio represents an opportunity to acquire a pair of excellent golf courses in a region that is recognized
for some of the finest golf in the nation,'' says Richard Mandel, President of the Commercial Group at Kennedy-Wilson.
``More than 2.3 million visitors played golf in South Carolina last year, and Charleston captured 10% of the market.''
Situated in Summerville, South Carolina, The Pine Forest Country Club has a 6,905-yard golf course considered to
be one of the finest in the Southeast region. Its proximity to Charleston's rich cultural, historic and business
centers add to its desirability. The club's amenities include a Junior Olympic swimming pool, six lighted clay
tennis courts, and a recently built 4,900-square-foot clubhouse.
The Crowfield Golf and Country Club is an unparalleled golf facility located in Goose Creek, a 2,340-acre Crowfield
Plantation residential development. Less than 30 minutes from Charleston, the 7,000-yard golf course is an attraction
to residents and tourists alike. Amenities such as a 4,200-square-foot clubhouse, a Junior Olympic swimming pool
and four Har-Tru tennis courts add to the club's value.
``Potential investors will be able to benefit by taking advantage of the tremendous economic and population growth
in the greater Charleston area,'' comments Tom Baldwin, Vice President of Kennedy-Wilson's Commercial Division.
Founded in 1977, Kennedy-Wilson is a diversified international real estate services firm. It provides real estate
investment sales, property management and leasing services, construction management, development and acquisition,
and technical consulting services worldwide through its offices in Los Angeles, San Francisco, New York, Chicago,
Washington D.C., Dallas, Houston, Minneapolis, Tokyo and Hong Kong. As the premier U.S.-based real estate services
firm in Japan, Kennedy-Wilson provides brokerage, management and investment services to Japanese and international
investors from its six offices throughout the country, including Tokyo, which serves as a regional headquarters.
This release may contain forward-looking statements as well as historical information. Statements of goals and
strategies and words such as ``plan,'' ``believe,'' ``anticipate,'' ``expect,'' ``objectives,'' ``forecast'' and
``predict,'' and other similar words are intended to identify forward-looking statements. These forward-looking
statements, which are included in accordance with the ``safe harbor'' provisions of the Private Securities Litigation
Reform Act of 1995, involve risks, uncertainties and other factors that may cause the company's actual results
performance or financial condition to be materially different from any results, performance or financial condition
suggested by the statements in this release.
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Contact:
Rubenstein Associates, Inc.
Public Relations
Dawn Rowan/Filomena Maiello
drowan@rubenstein.com/fmaiel@rubenstein.com