Dunrene

Robert Macgregor, President

Wed, 08 Mar 2006 22:26:43 -0900

Robert Macgregor worked in commercial property finance in London before moving to Colorado in 1991. He founded the Dunrene Group shortly thereafter with the aim of making strategic land investments in western Colorado. His interests now extend to multiple aspects of the development business including acquisition, entitlement, financing and construction.

Personal: Robert received an MA from the University of St. Andrews, is a graduate of the Royal Military Academy Sandhurst and served as a Captain in the Royal Scots Dragoon Guards. He is married with two children and divides his time between Aspen, Colorado and Angus, Scotland.

Michael Maple, Chief Operating Officer

Wed, 08 Mar 2006 22:25:26 -0900

Michael Maple joined the Dunrene Group in 2002 to oversee the planning and construction of Glenwood Meadows, a mixed use development including 600,000 square feet of commercial space and 500 residential units. Prior to this, he worked as Operations Manager for Hansen Construction administering premium home construction, and as a Project Manager for Hines Interests, an international real estate development firm. His extensive professional experience includes construction management, market analysis, budget development, marketing, leasing, public relations, finance, deal structuring, and operations.

Personal: Mike graduated magna cum laude from the University of Colorado with a B.S. in Business Administration. He is married with two children and resides in Aspen, Colorado.

David Phillips, Business Development

Wed, 08 Mar 2006 14:39:34 -0900

David Phillips joined the Dunrene Group in 2006 to oversee the development of existing investments in western Colorado. He is now focusing on creative business opportunities in rapidly developing regions of the State. Prior to this, he worked for leading investment banks Credit Suisse First Boston and Citigroup, and MacAndrews & Forbes, a prominent private equity firm in New York City. His professional experience includes Merger and Acquisition advisory, Capital Markets financing and Portfolio Management across a broad range of industries.

Personal: David received his MBA, beta gamma sigma, from Columbia Business School and his Bachelors degree with First Class Honors from the University of Auckland, New Zealand. He is married and resides in Aspen, Colorado.

James Walker, Business Development-Europe

Mon, 06 Feb 2006 14:41:53 -0900

James Walker joined Dunrene in 2005 to oversee development opportunities in Colorado. He is now focusing on European business opportunities, including pursuing fractional development opportunities throughout the UK and Europe. Prior to this, he worked as a Management Consultant with Anderson Consulting. He then successfully built up his own consulting company before selling it to a public company in 2001. He is also the founder of Worldwide Private Residences LLLP, a revolutionary new luxury real estate fund product being rolled out in the . UK

Personal: James is a graduate of Oxford University and currently resides in London, England.

Home Page

Thu, 26 Jan 2006 14:48:19 -0900

Dunrene is a real estate investment company which focuses on raw land aquisitions and entitlements. Dunrene continues to seek investment opportunities usually before they are brought to market and often requiring creative solutions.

Contact Us

Wed, 25 Jan 2006 15:02:51 -0900

To contact the Dunrene Group

Email: business@dunrene.com

710 E. Durant Avenue, Suite W-6 Aspen, Colorado 81611
Tel: 970 925 9046 Fax: 970 925 1162

About Us

Wed, 25 Jan 2006 14:24:08 -0900

Dunrene is a real estate investment group which has, since 1993, focused primarily on raw land acquisitions and entitlements.

Interests now include residential and commercial assets together with some direct investment in third-party development activities.

Dunrene operates principally in western Colorado where it has bought, managed and sold more than 2,300 acres of developable land. This currently includes a 405,000 sq. ft. regional shopping center in Glenwood Springs together with entitlements for 475 residential units; also, a major land assemblage in Grand Junction suitable for a golf community or more than 1,000 homes.

Dunrene continues to seek investment opportunities, usually before they are brought to market, often requiring creative solutions. In additional to Colorado, this interest has lately been extended to the United Kingdom and Europe.

Dunrene Blue Sky LLC

Wed, 25 Jan 2006 10:20:46 -0900

Dunrene Blue Sky LLC was formed in August 2005 as a partnership between Dunrene Group and Aspen Blue Sky Holdings.The objective of this partnership is to pursue new fractional private residence club development opportunities in Europe.

Following the unparalleled growth in this industry sector in the US over recent years the rapid development of this new high end resort product is forecast to spread to Europe where the group wishes to spearhead its development. The group brings together a blend of experience from developing and selling the most exclusive fractional private residence club in the US with a knowledge and understanding of the European market. We are seeking to partner with developers in Europe who have exceptional sites for fractional private residence club developments and to leverage our ability to bring the best industry analysts, leading sales and marketing staff and cutting edge operational experience to these deals. We have the necessary relationships to raise the equity required to make these projects happen and to introduce the right hotel operators to make them a success.

In partnering with Aspen Blue Sky Holdings (“ABS”), Dunrene Group has joined forces with a high end real estate investment and development player who is also based out of Aspen. ABS has consistently been involved with high level, top quality real estate development or redevelopment in the premier resort areas of the world. ABS’ focus has been towards the acquisition of unique development opportunities, and a commitment to the creation of projects which will be the epitome of high level, high end, resort development as is exemplified by their involvement in the world famous fractional development at The Residences at the Little Nell at the foot of Aspen Mountain.
The partnership is currently searching for appropriate resort development opportunities throughout Europe, with an initial focus on the Alps. We are doing this using a team based out of a satelite office in London, UK.

Previous Projects

Mon, 23 Jan 2006 12:40:43 -0900

Glenwood Land Company LLC

Former holdings at South Glenwood have now been developed as Park East Neighborhood, Cardiff Glen residential and Sopris Elementary School. A further 100 acres is still under management.

Coryell Ranch

The 270-acre Coryell Ranch lies at the confluence of the Crystal and Roaring Fork rivers. The property was sold to Club Corp of America, parent company of the adjacent Aspen Glen golf course. It has become the “crown jewel” of that Nicklaus golf community, offering estate lots on the riverfront and unique spring-fed fishing ponds.

Sanders Ranch

The 280 acres at Sanders Ranch in Garfield County include some fine Roaring Fork River frontage and wildlife habitat. The land was sold in 1998 and has been more recently approved for a championship golf course.

Fruita Land Company LLC

Fruita Land Company LLC recently disposed of 438 acres of gently undulating land some 9 miles west of Grand Junction, CO. The land is bounded on 3 sides by the west entrance to the Colorado National Monument, which forms a spectacular backdrop, public lands controlled by the Bureau of Land Management and the Colorado River. The land lies in Mesa County but is close to the amenities and utilities of the town of Fruita, which has expressed interest in possible annexation. A subdivision is now being planned.

Eastbank

Mon, 23 Jan 2006 12:39:35 -0900

Eastbank LLC, together with Cozy Point LLP, owns 110 acres of prime riverfront on the Roaring Fork in Garfield County, opposite the new Arthur Hills course at Ironbridge. The entrance to the property has high visibility from Highway 82, while much of the riverfront is extremely private. Eastbank has about 1 mile of frontage on the gold medal fishing waters of the Roaring Fork, including one of the most scenic bends on the river.

Fruita Land Company

Mon, 23 Jan 2006 12:39:08 -0900

In addition to its Redlands property, Dunrene Group has other holdings in the Grand Junction area. These include a 3.3 acre block ideally suited for single family residential development and a 6.7 acre parcel permitted for 132 Multi-family residential units. Both properties are conveniently located off F Road in the rapidly developing northern/eastern area of the city.

Grand Junction Land Company

Mon, 23 Jan 2006 12:37:38 -0900

This 635 acre parcel is located in the prestigious Redlands area of Grand Junction.

The parcel is adjacent to the award winning Redlands Mesa golf course community and offers dramatic views of both the nearby Colorado National Monument and across the Grand Valley to the Bookcliff mountains. The site is in close proximity to the downtown with excellent access to primary/major transportation corridors yet the natural topography provides a distinct level of privacy. Nearby recreational opportunities abound.

Glenwood Meadows

Mon, 23 Jan 2006 12:30:21 -0900

Glenwood Meadows, LLC initially acquired 470 acres adjacent to the City of Glenwood Springs prior to divesting portions of the site and annexing 345 acres to the City of Glenwood Springs following a 3 year entitlement process. Approvals allow for the development of approximately 600,000 square feet of commercial space and nearly 500 residential units.

Development approvals required the construction or funding of over $14.0 million dollars in public infrastructure including Interstate 70 exit improvements, City of Glenwood Springs street improvements, Bike Path/Trail contributions and construction of roadways and master utilities. Public improvements were funded through the creation of a Metropolitan District, the application of a PIF or Public Improvement Fee and the issuance of Municipal Bonds.

To date, a 405,000 square foot Retail Center has been substantially completed and includes a 125,000 square foot Target, 130,000 square foot Lowe’s and 150,000 square feet of retailers including Gart Sports, Bed Bath & Beyond, Pier 1, Petco, Vitamin Cottage, Chili’s, a Wells Fargo Bank and other shop and restaurant development.

City approvals are in place for the development of a 120 unit Apartment project expected to commence construction in the spring of 2006.

Design Development is complete for 65,000 square feet of Wulfsohn Road Mixed Use-the first phase of which will include retail, office and residential space. Marketing and development approvals are expected to be undertaken in 2006.

Remaining Glenwood Meadows development potential includes:

Additional Wulfsohn Road Mixed Use (retail, office, residential) C-2 Zoning.
180 apartments following the first phase
175 units of other residential development. Zoned R-3. Single family, Duplex and higher densities permitted.
10 acre Mixed Use Commercial site zoned C-1.
100 – 200 hotel rooms
Restaurant Pad(s)

To download any of the PDF's on zoning, click any of the following links:
Zoning Parcel
Zoning Map
Overall Zoning Parcels
Overall Site Zoning Map