Jack Nicklaus Opens Newly Refurbished Santa Lucia River Club at Ballantrae Course

(Grand Opening Photo Diary)

Port Saint Lucie, Fla - March 23, 2007 - Golf course designer and legend Jack Nicklaus today officially opened the newly refurbished Santa Lucia River Club at Ballantrae. Port St. Lucie Vice Mayor Jack Kelly, along with representatives of developer Penn Florida Companies and club members, also attended the opening ceremony.

The $3 million course makeover represents the first phase of a $90 million project that will include the addition of 102 luxury condominiums, 18 golf villas and 25 luxury residences in The Lodge at Santa Lucia along the St. Lucie waterfront by Boca Raton-based Penn Florida Companies. Penn Florida Executive Vice President and Santa Lucia River Club at Ballantrae COO Jim Applegate is overseeing the project. Applegate's long list of successful golf course projects includes properties spanning the globe, from Dubai to Central America and throughout the United States.

Penn-Florida Companies is a full-service real estate firm specializing in the acquisition, design, development, construction, management and brokerage of commercial and residential real estate. They have experience in all major property types, including office, retail, medical, industrial, flex, multi-family, hotel, resort and country club properties.

Penn-Florida's financial expertise includes real estate financing, equity placement, limited partnership structuring, private subscription offerings, real estate tax management, and accounting for the ownership, operation and construction of real estate. Their geographic market presence encompasses strategic markets in the United States and internationally, with a concentration in Florida.

Santa Lucia River Club at Ballantrae is located at 3325 SE Ballantrae Blvd., Port St. Lucie, Florida just off Westmoreland Avenue in Port St. Lucie. For more information visit www.santaluciariverclub.net.