Polo, Dakar, GM bailout, and Art…

Hola! Nacho Figueras explains the rules of polo in Vanity Fair Magazine. In case you don’t know, Nacho is synonymous with Argentina polo. Nacho was recently our guest for a wine tasting and cocktail reception at Algodon Mansion. (pictured from left to right: Nacho Figueras, Me, Luisa Aldao, German Neuss, Camilo Aldao, and Nacho’s lovely wife Delfina):

Last weekend he and Great Britain’s Prince Harry played the Veuve Clicquot Manhattan Polo Classic, a celebrity attended charity match at New York’s Governors’ Island. The competing teams were Black Watch and Sentebale, and the British team won 6-5. This brings to mind the construction of Algodon Wine Estates’ own twin polo fields scheduled for completion next year. Polo is very big in Argentina, and our Champions’ Club will feature only the best of these types of facilities.

As I mentioned in an earlier post, the Dakar Rally will return to Argentina in 2010. The map of next year’s route is now available online, and it indeed runs right through San Rafael! What a great publicity and promotional opportunity for the city, and in turn Algodon Wine Estates. As you can imagine, the hotel was also fully booked when the rally came through earlier this year.

Argentina’s President Cristina Fernandez de Kirchner announces that the country will use $70 million of nationalized pension funds to provide General Motors (Argentine unit) with a loan to help the automaker finish work on a new car model. Finally, here’s a CNN video link to a report on the Buenos Aires International Art Fair (aka “ArteBA”), which has been called “the hottest art event on the planet”. One gallery owner interviewed explains how the combination of Argentina’s weak peso and the world-wide economic downturn is presenting lucrative opportunities for the county’s artists. Evidently savvy international collectors have realized that Argentina offers world-class pieces of art for unheard-of prices, and they are loading up on these great deals. That’s called “getting in when the getting is good” and similarly-minded people are doing the same with real estate there, obviously.

--Scott Mathis

Polo Anyone?

It looks like the world of Argentine Polo is alive and well, despite any global economic slowdown, according to a recent Reuters article that you can read here. The article also touches on polo tourism and Argentina’s position as the world's top destination for polo. Our polo fields at Algodon Wine Estates, by the way, should be completely excavated and seeded this year.

This photo was taken at a recent cocktail party inside the Algodon Mansion amidst all the construction. There was a huge turnout, and it was quite fun. Nacho Figueras and his wife Delfina Blaquier are pictured here with me. Nacho, of course, is a world famous Argentine Polo player and may be the face that most Americans associate with Argentine Polo. The photo above appeared in the December 20, ’08 issue of the Argentine magazine “Noticias”.

--Scott Mathis

Golf, Tennis & Polo

As I mentioned in an earlier post, Viñas del Golf’s original 9 hole course is currently being expanded to 18 holes. We thought it a top priority to push all of the construction for the sporting facilities to the front of our “to-do” list. Algodon Wine Estates is, after all, a resort as well as a boutique winery and gated living community, and we want to make sure the draw of it being an incredibly equipped and versatile sport center was finished- or least well on its way- before we have people living on the property. I’m very pleased to say that most of our plans for the new facilities are underway and construction for most of the projects will be finished by or around May of 2009. That’s a little over 6 months away from the day that I write this post. I’d say we’re doing pretty well. Every time I get back down to San Rafael, I’m always amazed at how much they’ve accomplished since my last visit. And keep in mind; I’m usually down there these days about once or twice a month. The sporting facilities are just another aspect of the estate’s family friendly draw. In the next few posts I’d like to explain a little further about what exactly we’re building, and hopefully I can find a few renderings to post, as well. --Scott Mathis

Personal Update

I am pleased to report that the "bill of sale" for the estate homesites will be complete this week, and as a result we can begin selling the estate homesites immediately. We already have approximately 27 estate homesites that people have reserved, and we anticipate executing those transactions as soon as possible. Regarding our golf course; as you know we started with nine holes and recently began building the back nine. The new nine holes of the golf course have now been completely excavated and shaped, with the fairways, greens, and tees complete. The drainage piping and sprinkler system are now being installed, and grass will be planted within the next 2 months. The complete 18-hole championship course will be open by April/May, 2009. We are working fast over here! That progress alone should add some nice value to the project! We have 300 estate lots for sale (ranging from 1 to 15 acres) roughly averaging about 2.5 acres (1 ha) located on the vineyards, golf course, polo fields and tennis center with views to the mountains. As well as 50 luxury Villa Townhomes with great views of the vineyards, golf course, and mountains, and 12 Tennis Villas (approximately 2,000 sq ft each, and situated in a beautiful 50 + year old olive orchard), which are really nicely located and look over the tennis complex and center court stadium, and are also adjacent to the golf course with more great views of the mountains. As far as the Algodon Tennis Complex goes, we have been working with José Luis Clerc (# 4 ATP in the world from 1979 - 1985) who is now one of Argentina's most recognized and respected sports figures, and was recently featured as an ESPN commentator for the 2008 US Open. He will be operating a tennis academy and bringing exhibition and tournament play to our estate. The restaurant expansion will have a view over the center court (similar to the court set-up in Monte Carlo) so that persons who wine and dine can enjoy the match play from their table. Our project is truly "coming together" and I look forward to showing you the amazing progress in the very near future! As with any project, there have been numerous changes, delays, and problems, etc., but overall I am very pleased with the progress and what the team in Argentina has accomplished. The Algodon Mansion in Buenos Aires is moving forward nicely and will be open in less than 5 months. Get ready to book your rooms!!! The mansion is small (20,000 sq. ft.) but it will certainly be one of the most exquisite hotel properties any of us have ever stayed in (and I make that a promise!) On the next trip down to BA you will see that the scaffolding/cover on the building will be gone and our 1912 Mansion is truly the most beautiful building on the Street. More updates to come!!! --Scott Mathis

Vineyard & Polo Village

This sector is very exciting. Two polo fields are currently being laid-out, and will be ready for play by the spring of next year. The fields are centrally located in the village, and a polo clubhouse will sit between them. The clubhouse will include a wrap-around balcony so that event spectators can have a great view of both of the fields. The village will also include vineyards, walnut trees, and horse pastures, as well as stables, exercise rings, and a practice field. Several homesite estates surround the polo fields, and many others are located on vineyard or fruit orchards for those who wish to cultivate a productive lot, or produce their own family label. --Scott Mathis

Algodon Wine Estates

I just flew back from business in San Rafael, and realized as I read through these entries that I haven’t mentioned Algodon Wine Estates yet. So, for those of you who don’t know what Algodon Wine Estates is- let me start by saying that as I traveled more broadly in Argentina, particularly to the splendid Mendoza wine region, I stumbled upon what I felt were incredible opportunities: -opportunities to invest in luxury agrotourism targeted to both Argentinean nationals and international tourists. -and an opportunity to create an elite, gated, golf course/winery community. Hence Algodon Wine Estates was born. Now let me just say here on a personal note- this has to be one of the best ideas I’ve ever had. I may even retire there myself one day. In my opinion, it’s not only an incredible investment opportunity for both myself and my business partners, it’s honestly one of the most beautiful places I’ve ever been to. Here is the real estate tag we use that I think pretty much sums up what Algodon Wine Estates is about: “Algodon Wine Estates (AWE) is situated in the hills of the Sierra Pintada Mountains at the base of the Andes, in San Rafael, Mendoza. Our stunning Argentine vineyard and golf estate encompasses over 2,050 acres (830 hectares) of picturesque terrain that harmoniously intermingles with multiple golf courses, lush vineyards, fruit and olive orchards, water reserves and channels, and spectacular tree-lined roads. The enormous estate also features a boutique world-class winery and tasting room, a traditional Mendocinian lodge, clubhouse, and an award-winning restaurant. Some of the property’s original structures, whose elegant rustic style adds a certain element of charm and comfort to the estate’s overall character, date as far back as 1921. The vineyard’s oldest vines date back to the 1940s and are comprised of seven varieties of grapes including Malbec; Argentina’s signature varietal. AWE’s surrounding resort and lodge frame this vineyard and golf estate, creating an alluring sanctuary of relaxation and tranquility.” Period. This place is truly magnificent, and it amazes me that what started out as a boutique winery and golf estate- has become a multimillion-dollar homesite development project that buyers are scrambling to own a piece of. More on Algodon Wine Estates next time. Let’s get busy! --Scott Mathis