Wasserman Real Estate Capital, LLC today announced it has secured a co-controlling interest in Kingsbarns Golf Links, the inspired stretch of golfing links-land that runs along the coast from St Andrews.
Wasserman, a Providence, Rhode Island-based developer and opportunity fund manager, recently introduced its plans for developing The St. Andrews Grand at the Old Course, an exclusive enclave of 23 luxury residences. Renovation plans for St. Andrews Grand will be reminiscent of the historical Grand Hotel, today known as Hamilton Hall and the only residence on the 18th green of St. Andrews. Wasserman has ownership stakes in more than two dozen retail, residential and office properties around the world.
“We are as much in awe of the Kingsbarns Golf Links course as we are of the future site of the St. Andrews Grand,” stated David Wasserman, principal of Wasserman Real Estate Capital, LLC. “Together these two projects fulfil a unique sporting experience in St. Andrews. These projects are just the beginning of our commitment to development and expansion in the United Kingdom.”
While terms of the deal were not disclosed, Wasserman noted that his company will maintain the impeccable reputation of the course as well as its first class management team. Kingsbarns, which was designed by Kyle Phillips and opened in July 2000, has earned top ratings among all major golf and industry publications for golf course design. The par 72 course which extends to 7,126 yards for the championship tees features dramatic sea views along 1.5 mils of scenic coastline from each hole and a traditional links golf heritage dating from 1793.
“There is a synergy between both Kingsbarns and St. Andrews Grand highlighted around the land’s unique character and offerings,” added Wasserman. “But beyond golf, you can tour the old country and visit historical castles, embrace the great outdoors — hunt, fish, and hike or enjoy Fife’s beach and bike trails which wind along the coast.”
Wasserman Real Estate Capital LLC acquires and develops a diversified portfolio of properties. Their established track record is evidenced by a portfolio of real estate assets consisting primarily of mixed use developments, shopping centre properties with national tenants, and multi-family developments. The Wasserman organization has maintained steady growth and represents a model of efficient and successful property development, urban revitalization, and historical rehabilitation in a multi-disciplinary company with construction, management, and leasing for more than 40 years. It has been one of the premier real estate operating companies in the US and is now applying these skills internationally. For nearly a decade the firm has acted in a fiduciary capacity for institutional capital investment partners.
Kingsbarns Golf Links www.kingbarns.com
Wasserman Real Estate Capital www.starwass.com