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Fidelity National Timber Buys Black Rock

Fidelity National Timber Buys Black Rock

Vacation News » Vacation & Leisure Real Estate Edition | By Scott Kauffman | August 1, 2011 2:55 PM ET



(COEUR D'ALENE, IDAHO) -- Fidelity National Timber Resources, Inc., a wholly-owned subsidiary of Fidelity National Financial, Inc., recently announced its plans to open the Tom Weiskopf designed golf course tentatively named The Rock Creek Club of Idaho (formerly known as Black Rock North) in the late spring of 2012.  This world class golf course is located on approximately 1,000 acres of beautiful rolling terrain situated on the bluffs above Lake Coeur d'Alene and is conveniently located only minutes from downtown Coeur d'Alene, Idaho.

The property also has preliminary entitlements for 330 residential units.  FNTR intends to offer a variety of unique membership opportunities tailored to fit current market conditions.  Such offerings are planned to include memberships that will allow access to the highly acclaimed Rock Creek Cattle Company located in Deer Lodge, Montana.  In addition, discussions are under way with FNTR's strategic partner and industry leading developer of luxury private club communities around the globe, Discovery Land Company, regarding opportunities for multi-faceted memberships and property ownership in other highly desirable destinations.  The first phase of the real estate development at The Rock Creek Club of Idaho is in final planning stages and is being designed to provide buyers with variety of appealing residential units that offer compelling value.

"We are extremely excited about moving forward with the grand opening of The Rock Creek Club of Idaho," said FNF Chairman William P. Foley, II.  "Our strong capital backing and low cost basis, in combination with the existing entitlements and substantial improvements on the property, place FNTR in a unique position to successfully complete the development of a world class golf course community in a beautiful location.  Current market conditions require creativity in structuring both the golf club membership offerings and the types of residential units FNTR brings to market over time.

"FNTR's existing assets, in combination with the experience and assets of our strategic partners, place FNTR in an ideal position to provide the types of offerings and product the market currently demands.  Furthermore, FNTR's recent investment in Gozzer Ranch, an outstanding Discovery Land Company project, combined with our investment in The Rock Creek Golf Club of Idaho; demonstrate our commitment to and optimism for the future of the real estate and business markets in the greater Coeur d'Alene region and the Inland Northwest.  We are very excited about becoming a part of this outstanding community and working closely with Kootenai County officials and its residents to move this project forward in an open and cooperative manner."

Discovery Land has developed and owns a number of the top-ranked private clubs in the Western Hemisphere, including Baker's Bay in the Bahamas, Kukio in Hawaii, the Madison Club in Palm Springs, Calif., and Mirabel and Estancia in Scottsdale, Ariz.





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