Signature Puts Name On Wisconsin Dells Parcel

WISCONSIN DELLS, WI— Signature Horizons— an owner, developer and operator of upscale destination resorts and residential golf club communities— has acquired approximately 136 acres of property in this prime resort area, with the site located directly across from the Great Wolf Lodge here. The property was reportedly acquired in a stock-and-cash transaction amounting to $6,798,000. It was noted the parcel had been appraised at $10,200,000. The company’s current development plan is said to encompass the entire acreage, with a hotel, water theme park, nine-hole golf course and upscale shopping center slated for the site. According to Ronald Potts, chairman/CEO: “Signature has already been contacted by a number of developers who wish to joint-venture with the company on this significant real estate opportunity.” Signature currently owns— or has under purchase contract— 13 real-estate properties located in Arizona, California, North Carolina, Oklahoma, South Dakota, Tennessee, Wisconsin, Wyoming, and a resort island in the western Caribbean, with a combined acreage in excess of 15,000. The company’s management estimated those real-estate assets comprise a combined fair market value in excess of $190 million (although the cost basis to the company of these properties has reportedly been estimated at approximately $90 million).