PROJECTS
Prime Income Asset Management and Port Olpenitz GmbH Hold Cornerstone Ceremony
DALLAS, Tx. (October 19,, 2009) – Prime Income Asset Management and Port Olpenitz GmbH recently held its Cornerstone Ceremony to celebrate the beginning of construction on Port Olpenitz, the largest holiday resort in Northern Europe. Port Olpenitz is a 425-acre holiday resort located in the northeastern section of Schleswig-Holstein, Germany and is being developed on land that is the site of the former Olpenitz naval base between the mouth of the River Schlei and the Baltic Sea, Port Olpenitz is a joint venture between HarmInvest GmbH, Berlin, and American Realty Investors, Inc. (NYSE: ARL), an affiliate of Prime Income Asset Management.
Among those in attendance were Schleswig-Holstein’s State Governor, Peter Harry Carstensen, Volkher Looft, the Chairman of the State Nature Conservation Association; Karen Leuow, Representative of the State Ministry for Science, Economics, and Transport; Jaska H. Harm, Managing Partner of Port Olpenitz GmbH; Herbert Harm, Architect of Port Olpenitz; Margret Brahms, Representative of the State Ministry for Agriculture, the Environment and Rural Areas; Dr. Robert Habeck, State-President of the Green Party; Ulrich Brüggemeier, Vice District Chief Executive; Peter Harry Carstensen, State Governor and Minister-President of Schleswig-Holstein; Roman Feodoria, Major of the City of Kappeln; special guest Cassandra Steen performing her well known hit I’ll build a City for You, and Prime Income Asset Management’s President and COO, Daniel J. Moos.
State Governor Harry Peter Carstensen expressed his deep satisfaction for the region and the state: “Port Olpenitz, Schleswig-Holstein is joining the international tourism elite.” Volkher Looft, the Chairman of the State Nature Conservation Association, added, “This is a triumph for nature conservation and good economics.”
Port Olpenitz GmbH recently introduced zoning changes due to mutual concessions between the developer and several environmental associations. A symbolic anchor was released into the harbor to symbolize anchoring the project with the common goals of all organizations. “We are pleased that this unparalleled project was given the construction green light. Prime Income Asset Management and Port Olpenitz GmbH are proud to create a world class development that is complimentary to the local community of Schleswig-Holstein, while at the same time protecting the surrounding environment,” said Daniel J. Moos Prime Income Asset Management’s President and COO.
“With the support of State Governor Harry Peter Carstensen and Dr. Robert Habeck, the State Representative of the Green Party, we sat down with the natural associations’ representatives and were thus able to include everyone in the discussion. All concerned were willing to compromise to reach an agreement, and through a positive process of give and take we eventually reached a consensus on a modified development plan that has the full backing of everyone involved” explained Jaksa Harm, Managing Director at Port Olpenitz GmbH.
The project can be viewed as a 3-D animated movie online at www.port-olpenitz.de.
For more information on Port Olpenitz, visit online at: http://www.port-olpenitz.eu/
Prime Income Asset Management and Port Olpenitz GmbH Unveil First Model Vacation Home to Local German Press
DALLAS, Tx. (July 6, 2009) – Prime Income Asset Management and Port Olpenitz GmbH recently introduced the first completed model to the German press. Port Olpenitz, a 425-acre holiday resort located in the northeastern section of Schleswig-Holstein, Germany. Being developed on land that is the site of the former Olpenitz naval base between the mouth of the River Schlei and the Baltic Sea, Port Olpenitz is a joint venture between HarmInvest GmbH, Berlin, and American Realty Investors, Inc. (NYSE: ARL), an affiliate of Prime Income Asset Management.
The two story model, named Gunneby, is approximately 1,300 square feet with two bedrooms, two baths, and a sauna. The property also features private dock access to the Schlei-River and Baltic Sea – just 30 feet away from the water. The home is one of 1,000 vacation homes being built in the Port Olpenitz holiday resort. There are also plans for a 400 room hotel with marina, as well as approximately 2,500 docks throughout the entire development. Port Olpenitz is located just outside the gates of the Town of Kappeln on the site of the former Olpenitz naval base, which still houses an historic lighthouse that served as a beacon to guide ships into port. Prime Income Asset Management, along with Port Olpenitz GmbH and HarmInvest GmbH, intends to transform the area into a blossoming port village with vacation homes with individual boat piers, hotels, restaurants, cafes, an 18-hole golf course and all manner of leisure activities.
“Port Olpenitz is a unique example of how the interests of the developer and the interests of the environmentalists can both be met when we work together to find common ground. Our resort will provide exclusive one of a kind vacation homes, and at the same time preserve and protect the surrounding environment,” explained Jaksa Harm, Managing Partner at Port Olpenitz GmbH.
Port Olpenitz GmbH has introduced zoning changes due to mutual concessions between the developer and several environmental associations. A river landscape with 300 additional homes has been added between the harbor and newly designed golf course and several front harbor vacation homes will now be placed 500 to 1,500 feet off shore in order to maintain the land reserve.
“We have always aimed to preserve the environmental beauty of the area and the agreed conditions between our company and the environmentalists will benefit everyone. With the newly established reserve the vacation homes will have permanent unobstructed ocean views to Denmark, as well as complete privacy to the North,” adds Gene E. Phillips advisor to Prime Income Asset Management.
For more information on Port Olpenitz, visit online at: http://www.port-olpenitz.eu/
The €500 million Port Olpenitz project occupies the former Olpenitz naval base just outside the Town of Kappeln, Germany which still houses an historic lighthouse that served as a beacon to guide ships into port. When the base was closed in 2006, it left behind a deep-water port with a vast and open expanse of land that is presently home to warehouses and military barracks. Under Gene’s advisement, Prime Income Asset Management, along with Port Olpenitz GmbH, intends to transform the area into a blossoming port village featuring stunning vacation homes with individual boat piers, waterfront hotels, restaurants, cafes, an 18-hole golf course and all manner of leisure activities.
Amenities at Port Olpenitz will include 7,000 guest beds throughout the entire resort, with accommodations for at least 1,500 in the resort’s waterfront hotels alone, and ample meeting and conference space will be provided for business guests. Additionally, there will be an open-air arena for major events, world class shopping, a marina, a boatyard equipped with state-of-the-art maintenance technology, and a heated winter storage facility for sailing yachts and motor cruisers.
“Thanks to Gene’s vision and strategic expertise, Port Olpenitz is going to be a one of a kind resort; an experience you won’t find anywhere else in Europe. And I am supremely confident in Prime’s management abilities as well as those of Mr. Harm and his team. Together we will raise the bar for Europe’s waterfront resorts,” said Daniel J. Moos, chief operating officer, Prime Income Asset Management.
The project, situated between the mouth of the River Schlei and the Baltic Sea in the northeastern section of Schleswig-Holstein, Germany, is a joint venture between HarmInvest GmbH, Berlin, and American Realty Investors, Inc. (NYSE: ARL), an affiliate of Prime Income Asset Management.
For more information on Port Olpenitz, visit online at: http://www.port-olpenitz.eu/
