Alpharetta, Ga. -Textron Financial Corp., a golf course lender, completed its financing of the new, Trump National Golf Club at Bedminster (N.J.) with an affiliate of The Trump Organization. Terms of the agreement weren't disclosed.
Trump National Bedminster will offer an 18-hole course, 18 cottages, a men's locker room located in a restored carriage house and a 15,000-square-foot clubhouse created from the renovated estate home on the property, all situated on 465 acres at the historic Lamington Farm. Trump National Bedminster's location offers views of New Jersey's rolling hills countryside and a promise to deliver the finest golf experience to their most discriminating customers.
"Thanks to Tom Fazio, the world's premier golf course architect, this will be a golf course second to none," said chairman of Trump National Golf Club, Ashley Cooper.
The course is scheduled to be completed by late summer 2004.
"Trump National Golf Club at Bedminster will be one of the premier private clubs in the United States and a leading contender to host a major professional golf tournament," said Greg Lewis, northeast regional correspondent for Textron Financial's golf finance division.
Textron Financial isn't a new partner to The Trump Organization. This will be the third occasion that Trump has partnered with Textron Financial to provide construction and permanent financing on new golf course projects. Two additional Trump golf club ventures in Textron Financial's portfolio include Trump National Golf Club at Briarcliff Manor in Westchester, N.Y., and Trump International Golf Club in West Palm Beach, Fla.
"Partnering with The Trump Organization for the third time is a testimony that they recognize Textron Financial as a trusted and preferred financer who understands their specific business needs and helps to create the ultimate golf experience," Lewis said.
Textron Financial is a diversified commercial finance company with more than $8 billion in managed and serviced finance receivables. It has core businesses in aircraft finance, asset-based lending, distribution finance, golf finance, resort finance, and structured capital. More information about the company is available at www.textronfinancial.com.