Condo Hotel Center: Property Alert

March 17, 2006

DOUBLE JJ RANCH & GOLF RESORT

Enjoy Action-packed Vacations at

This Western Michigan Condo Hotel

Hi, I'm Henry Perfilio from Condo Hotel Center, and I'm just about bursting with the news of our latest condo hotel property. I don't know about you, but I like to have fun when I'm on vacation.

Sit by the pool with a paperback? No, thanks. Sign me up for golfing, hiking, swimming, fishing, skiing, horseback riding - now that's a vacation! Having the wind in my hair and the sun on my face makes it easy to unwind and leave it all behind.

If you and your family love nonstop adventure, keep reading. The property I'm going to tell you about is all about having Fun (notice I spelled "Fun" with a capital "F")!

Last year, Michigan's Double JJ Ranch & Golf Resort - home to one of the largest "playgrounds" in the nation - began construction on Phase I of its new luxury residential condominiums, Thoroughbred Suites. All 54 of these fine condo hotel units moved with the kind of speed you see at the running of the Kentucky Derby. There's not a single Thoroughbred left.

But whoa, hold your horses! I have great news. At this very moment, the units of Phase II at Double JJ Ranch & Golf Resort are being loaded into the starting gate. And Condo Hotel Center has been given a head start in the race.

We've been authorized to offer our Property Alert subscribers first choice and first-tier pre-construction pricing on the brand-new luxury condo hotel units that are to be built. We've also negotiated an exciting buyer incentive which I'll tell you about in a minute. So quit horsing around and read on for more details.

Thoroughbred Suites, Phase II

Thoroughbred Suites Phase II will consist of 68 spacious condo hotel units, each with its own fireplace and balcony.

This second phase of Thoroughbred Suites will feature 68 professionally-furnished condo hotel units. They'll each have a full kitchen, dining room, and living room as well as a fireplace and private balcony. These condominiums will be operated as a resort hotel.

Just 3.5 hours from Chicago and Detroit, owners will enjoy access to all of the wonderful amenities of the Double JJ Ranch & Golf Resort and the surrounding Great Lakes region. They'll also have the convenience of being able to place their condo hotel units in the onsite rental program when they are not using them. A three-year Gold Membership with Interval International's vacation exchange program is included with all Phase II condo hotel units.

Construction is slated to begin in July of 2006 and will be completed in January 2007.

A History of Memorable Family Vacations Since 1937
The Double JJ Ranch and Golf Resort is located on 2,200 acres of some of Michigan's most beautiful countryside. Originally built in 1937, this Western-style hideaway has a long history of providing families and entire generations with memorable vacation experiences.

The ranch offers year-round fun for adults and children alike, with everything from snow tubing and cross country skiing in the winter to horseback riding, golfing, and swimming during the summer months. Ranch guests also enjoy nightly entertainment such as stage shows, casinos, volleyball, karaoke, hay rides, and campfires.

Golfing at the Ranch's Thoroughbred Gold Club is second to none. The Club features a stunning Arthur Hills-designed professional golf course that was rated 4 ½ stars in Golf Digest's Places to Play. This course, known for its quiet natural beauty, was also named among the "top 100 women-friendly courses in America" by Golf for Women. Try it for yourself, and you'll see why serious golfers come back to play it again and again!

Dubbed "America's Friendliest Resort," the Double JJ Ranch is the destination for those seeking a refreshing departure from the tedium of everyday life. With a variety of activities for all different interests, budgets, and seasons, this resort truly offers something for everyone.

There's never a dull moment at the Double JJ! Activities include:

• Championship Golf on a beautiful 18-hole course
• Horseback Riding - Over 27 miles of trails!
• Private lakes
• Outdoor water park
• Cattle drives
• Stagecoach Rides
• Weekly Summer Rodeo
• Fall Festival
• Haunted Attractions
• Snow Tubing Hill
• Dog Sledding
• Cross Country Skiing
• Snow Shoeing

Kid-friendly Family Fun
Planning a family vacation? The Double JJ is one of the "kid-friendliest" places on earth. The Back Forty Ranch was created with kids in mind, but it's just as much fun for adults. Spend the day there, and you'll swear you're back in the Old West!

The Back Forty offers fun activities all year long. During the summertime, families can cool off in the 'ol swimmin' hole and activity pools. Or if you're in the mood for some excitement, you can watch a thrilling Wild West stunt show on Main Street.

For winter fun, there's snowmobiling, snow tubing, sleigh rides and horseback rides. The Back Forty also offers hayrides, arts & crafts, and a petting farm and pony rides.

The Ranch Ventures into a "New Frontier"
In conjunction with the development of Thoroughbred Suites, the Double JJ Ranch is also in the process of adding a 100,000 square foot entertainment complex called The New Frontier.

The New Frontier will house several new attractions and amenities. This gigantic $40 million expansion opening in Nov. 2006 will feature:

• A professional conference center
• A large grand ballroom which seats 350-400 people
• A retail "corridor" with boutiques and specialty shops
• A live dinner theater
• A 3,500 sq. ft. arcade
• A luxury day spa with seven treatment rooms

In addition, The New Frontier will include a three-story sports bar called The Raging Bull which will feature pool tables, a night club with a live DJ, a sophisticated arcade boasting sports simulation games, a basketball court and four lanes of Brunswick's virtual bowling.

Last but not least, the pièce de résistance of The New Frontier is an amazing 60,000 square foot indoor waterpark!

The 60,000 sq. ft. indoor water park will be the centerpiece of the $40 million expansion.

An Indoor Water Park? Believe It!
Waterslides, wave pool, and hot tubs… even when the snow's falling outside? You bet! The brand-new indoor waterpark at Double JJ is scheduled to open in November 2006.

This red-hot attraction - expected to corral thousands of people to the Ranch year-round - will feature slides, an action river, a wave pool, indoor/outdoor hot tubs and activity pools for all ages.

The waterpark will include a dry area with a cave, climbing wall, trampoline, kiddie train, maze and bridge.

Kids and teens will love playing in the interactive, "mine-shaft"-themed action pool, with its unexpected twists and turns. Several multi-tiered water slides will make a "splash" with kids with all ages, not to mention the fun and challenging balance-walks.

Parents and grandparents, watch out! There are water guns all around, and they're just waiting for mischievous little fingers to pull their trigger. The waterpark will feature a large adults-only hot tub as well as an all-weather family hot tub.

Other "can't miss" attractions-in-the-making: A family raft ride which seats four, a single and double-tube waterslide, a cannonball slide, and a 54-foot-high body slide - the tallest indoor slide in the state of Michigan!

The waterpark, designed by the award-winning Northeast Aquatic Design, will also house a three-story dry-play area. Parents can supervise from a lounge area while kids explore a "cave" complete with genuine rocks and miner's helmets.

The play area will also feature a trampoline, maze, and a suspension bridge which overlooks the Park. Hungry snack-seekers need not worry; the new waterpark will have its own concession stand stocked with treats.

Resort Amenities and Suite Features

There are 12 different floor plans from which to choose with units ranging from 497 to 3,625 sq. ft.

As a full-service condo hotel and resort, the Double JJ Ranch offers housekeeping, 24-hour security, concierge services, restaurants, covered parking, daycare, babysitting, shuttle services, and bike rentals. It even has a 3/4 mile grass airstrip for those of you with your own plane.

The units in Thoroughbred Suites Phase II will be stylishly-appointed residential condominiums. There are several suite types available with choices of one, two, or three bedrooms and either golf course or Waterpark views.

The condo hotel units range from 497 to 3,625 square feet, and sleep from four to 23 people comfortably.

Suite amenities include:

• Private balcony
• Fireplace
• Genuine wood cabinetry
• Ceramic tile in bathrooms
• Full kitchen (refrigerator, stove, dishwasher & microwave)
• Coffee maker
• First-class luxury bedding
• Flat-screen high-definition TV in living room and master bedroom
• Cable TV
• High-speed internet
• Lower-level parking
• Master bedroom in-room Jacuzzi in most units

Condo hotel units placed in the Double JJ rental program will also include linens, pots, pans, dishes, glasses, silverware, and small appliances. Every Thoroughbred Suite will be professionally-furnished and designed for the ultimate in comfort. The warm, earthy color palette and Western-inspired decor will make you feel like you're a part of the Wild West adventure!

Michigan: A "Four Seasons" Vacation Destination
Western Michigan is known as a "four seasons" vacation destination. In the winter, it's a virtual snow-covered outdoor playground for skiing, snowmobiling, sledding, and snow-tubing while the summertime brings balmy weather and plenty of world-class fishing, water sports, hiking and sailing.

The Great Lakes region is a place of spectacular scenic beauty and abundant natural wonders. It's the ideal refuge for those seeking to recharge their spirits, renew family ties, and rediscover the joy of simply having fun.

Just a stone's throw from the highway, the Double JJ Ranch is in the heart of the popular Great Lakes region. Though you won't likely want to leave the resort grounds, there is plenty to do nearby.

Just eight miles east of the ranch is Lake Michigan, where you can witness breathtaking sunsets. The Lake also features some of the best sports fishing and water activities around. Several miles south of the Ranch is a small, cozy town with a movie theater, restaurants, and plenty of shopping.

Amusement park-lovers will enjoy a trip to Michigan's Adventure, just 10 minutes away. This park offers many thrilling rides and colorful attractions, including its top-rated wooden roller coaster, Shivering Timbers.

Fifteen miles away, nestled between the shores of Lake Michigan and beautiful Silver Lake, are the Silver Lake Sand dunes. Take a buggy or jeep tour of the area, test your off-road driving skills on the dunes, or simply enjoy a picnic lunch while taking in the scenic views.

Nearby Muskegon offers a variety of fun activities, including "Summer Celebration," the town's annual 11-day arts and music festival which has featured such notable acts as Chicago, Aretha Franklin, and Santana. Muskegon is also home to an annual air show which draws thousands of people from all over the region.

Meet the Developers
Thoroughbred Suites is being developed by Carpenter Lake Development, Inc., a Michigan corporation. Robert Lipsitz, the President of Carpenter Lake Development, and his wife, Joan Lipsitz, the Secretary of the company, have been involved in outdoor recreation, education and development for more than 30 years.

In 1988, Bob and Joan purchased the Double JJ Resort. Since that time, they've been responsible for the largest growth and development in the Ranch's history.

The Vice President of Carpenter Lake Development, Inc. is Walter ("Wally") Wojack. Wally has been involved in numerous development projects. He has also been a founder, owner, senior manager and board member of a myriad of companies since leaving General Electric in 1964.

The Thoroughbred Golf Club features the 18-hole, award winning Arthur Hill golf course.

Wally's love affair with the Double JJ Resort dates back to July of 1950, when a casual vacation turned into a long courtship. During the past 54 years, Wally became acquainted with the Ranch's previous owners and would occasionally find time to work as a wrangler.

Knowledge gained from his experiences at the Ranch and as an entrepreneur convinced him that it would only be a matter of time before people would discover this "diamond in the rough."

His love for the Double JJ intensified, and he expanded his association with the resort after it was purchased by Bob and Joan Lipsitz. Wally shared their sincerity and enthusiasm in wanting to improve and expand this unique and successful resort.

In 1992, he became a shareholder in the resort companies with a staunch commitment to making the Double JJ Ranch the premier resort destination in Michigan.

Double JJ Rental Program
Owners of Thoroughbred Suites will have the opportunity to participate in a professionally-managed rental program with the Double JJ, which will operate the condos as a resort hotel, just as they've successfully done for the Double JJ Ranch & Golf Resort since 1988.

The resort's management will be responsible for all day-to-day operations such as housekeeping, reservations, and marketing.

"Stake Your Claim" at Double JJ
Construction will soon be underway. Remember, buyers who act now can get in while the prices are lowest and while there are plenty of great suites and 12 different styles to choose from. Prices range from $199,000 to $980,000.

To reserve your Thoroughbred Suite, a deposit of 10% is required when signing the purchase and sales agreement. Upon selection of a unit, a complete set of condo documents will be sent for your review.

The Double JJ Ranch will be in regular communication during the construction of the suites so that you can arrange for financing in plenty of time to close. Closings are expected to take place in January 2007 when the building is complete.

Special Incentive for CHC Buyers, Valued at $2,995!
We have negotiated a special buyer incentive for Condo Hotel Center clients. No one else is being offered this perk.

When you reserve your Thoroughbred suite through Condo Hotel Center, you'll get your choice of one of two fabulous free gifts:

• Winner's Circle Membership: Entitles the owners and their family, up to 6 people, to free daily activity passes for all seasons as well as deep discounts on recreation (golf, horseback riding, cattle drives, sleigh rides, snowmobiles, etc.), merchandise (at the general store, Ranch Trading Post and pro shop), and food (restaurants and dinner theater). Value: $2,995
  
  
• Golf Membership: Good for one year unlimited golf for up to two adults (must be the owners) at the Thoroughbred Golf Club as well as 10% off in the pro shop. Your guests will also receive a 20% discount on golfing. Value: $1,999

Remember, this special incentive is available only to Condo Hotel Center clients!

Pony Up for More Information
If you'd like to learn more about Thoroughbred Suites, we've prepared a data sheet that will give you further details and even includes all of the available floor plans. You'll need to provide your contact information (name, address, phone, e-mail) to receive this data sheet and you'll be registered with Double JJ Ranch & Golf Resort as a client of Condo Hotel Center, eligible for the special incentive.

Request data sheet for Double JJ Ranch Thoroughbred Suites here.

Home Stretch
Admit it - you're already fantasizing about championship golf on a secluded course at sunset … skiing through a winter wonderland … and exploring the beautiful Michigan countryside on horseback. What could be better?

Now is the time to get in with Phase II Thoroughbred Suites just coming on the market. Prices are low, and you'll have your choice of units. Plus, you can take advantage of the Condo Hotel Center special incentive. So don't get left in the starting gate.

If you've always dreamed of owning the ultimate fun vacation getaway, say "yes yes" to Double JJ.

As always, we appreciate your business and interest in our Condo Hotel Center Property Alerts. We also remind you to check out the New Listings on our website every now and then, since we're constantly updating them.

If you know anyone else who'd like to receive our Property Alerts, you have free rein (sorry, couldn't resist one last horse pun) to forward this newsletter and suggest that they, too, sign up for our Property Alerts.

Lastly, if you're a developer considering building a condo hotel or you're a hotel owner who wants to convert an existing property into a condo hotel, be sure to check out our upcoming symposium, Developing, Financing and Operating Condo Hotels.

Thank you for choosing Condo Hotel Center as your information source for all things condo hotel!
Happy St. Patrick's Day!

Henry Perfilio
Licensed Real Estate Agent
Condo Hotel Center
A Division of Sheldon Greene & Associates, Inc.
(843) 685-9281 (Direct Line)
(305) 944-3090 (Main Office)
Henry@CondoHotelCenter.com
www.CondoHotelCenter.com

© Copyright 2006, Condo Hotel Center. All rights reserved.

*All rights reserved. No portion of this Property Alert may be reproduced, exhibited or distributed without the express written permission of Condo Hotel Center. Although Condo Hotel Center believes the information contained in this Property Alert to be accurate and complete, Condo Hotel Center can make no such guarantee.