Donald Trump pays $28million

for Shadow Isle GC, New Jersey

PRESS RELEASE

Donald J. Trump, who owns some of the finest golf courses in the world including Trump National Golf Club/Los Angeles, California, Trump National Golf Club/ Bedminster, New Jersey, Trump National Golf Club/Westchester, New York, Trump International Golf Club/Palm Beach, Florida, has just purchased Shadow Isle Golf Club, which is located in one of the wealthiest communities in the country, Colts Neck, New Jersey.
Shadow Isle, which sits on 450 acres, was originally designed by Jerry Pate. It has a magnificent 90,000 square foot clubhouse, said to be one of the largest and finest in the country. The total cost of the project is an unknown, but including the value of the land would approximate $100 million. Based on the quality of the course and the clubhouse, over 100 members initially joined at $200,000 per member and then, because of financial difficulties and the bad press associated with these difficulties, sales stopped.
The transaction was made between Mr. Trump, a major New Jersey bank, and the original developer, a large family building firm. The purchase price was $28 million.
It is anticipated that Mr. Trump, who has been a big supporter and believer in the Fazio family, will bring in Tom Fazio or Tom Fazio II to do course upgrades. It is also anticipated that he will be changing and upgrading large sections of the clubhouse, which opened only three months ago.
“This is a great location on magnificent land. Colts Neck and the surrounding area is one of the finest communities in the country. When completed I believe that this club will be one of the most successful anywhere. I will be changing the name to Trump National Golf Club/Colts Neck. We already have a long list of people who want to join,” said Mr. Trump.