OTS Retains Kidder for Golf Resorts Sale:...
OTS Retains Kidder for Golf Resorts Sale: The Office of Thrift Supervision said it retained Kidder, Peabody & Co. to advise it on the pending $739-million sale of Landmark Land Co.’s golf resorts--the first time the agency has retained an investment banker to review a transaction. Landmark announced early last month that it had agreed to sell most of its real estate assets to a joint venture led by its management and several Japanese investors, led by Daiichi Real Estate Co. of Tokyo. Landmark owns the Palm Beach Polo and Country Club in Florida; Kiawah Island in South Carolina; La Quinta, Mission Hills and PGA West in Palm Springs, and the Carmel Valley Ranch in Carmel.
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