T-Rex Capital Acquires Luxury Adirondacks Resort

While there has been no news from T-Rex Capital LLC, regarding its planned marina development on 10 acres in Coral Bay, the company has been making news elsewhere.

Last month the Connecticut-based developer of government, residential and commercial properties acquired The Whiteface Lodge, a luxury “Adirondacks Great Camps-style” resort and residence club in Lake Placid, New York.

The lodge is slated to be the “flagship property of T-Rex Capital’s High-End Private Residence Club,” according to the Web site news.alpinezone.com.

Luxury Fractional Ownership
Adding The Whiteface Lodge to its growing number of properties throughout the U.S., has put T-Rex at the forefront of the luxury fractional ownership market, T-Rex president Clifford Perminger explained on news.alpinezone.com.

“This acquisition sets the stage for us to become one of the leaders in the high end fractional ownership segment while continuing to grow through key acquisitions of premier properties,” Perminger was quoted as saying on the Web site.

There has been no word on T-Rex’s Coral Bay development plans since September, when officials announced they had signed a 99-year lease with the Moravian Church for five waterfront acres and five hillside acres of land in Estate Emmaus.

Eco-friendly Development Planned
The developer plans to construct an “environmentally friendly residential, commercial and marina development,” that will “accommodate sailboats of all sizes, motorboats and large yachts,” according to a prepared statement issued by T-Rex in late August 2006.

“All aspects of this development will be eco-friendly including the use of solar panels in construction and a pump-out facility in the marina for waste removal,” according to the release. “Other plans on this property include a state-of-the-art, full-service spa, a five-star restaurant as well as community and marina based retail space.”