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Bluegreen Corporation Announces Fee-Based Service Relationship With The Studio Homes At Ellis Square, Savannah, GA

Bluegreen Corporation (NYSE: BXG), a leading timeshare sales, marketing and resort management company, is pleased to announce its Fee-Based Services arrangement with News Place Developers, LLC, owner and developer of The Studio Homes of Ellis Square in Savannah, Georgia, to provide vacation ownership sales, marketing, property management, mortgage servicing, and related services. The Studio Homes will be sold as a component site of the Bluegreen Vacation Club®, allowing Bluegreen owners access to a luxurious resort in the heart of this historic and popular destination.

“We are thrilled to enter into a relationship with The Studio Homes. Savannah is a popular destination request among our owners, and we believe that the beautiful accommodations and prime location of The Studio Homes will make this a desirable new offering for Bluegreen,” explains Wendy Poe, Senior Vice President of Club Services.

“We strategically assembled a talented development group, including Batson-Cook construction, Lynch and Associates architects, and J. Banks Design Group to bring a luxurious resort experience to downtown Savannah,” said Cord Middleton, a principal of News Place developers. “The resort’s one- and two-bedroom suites overlook Savannah’s Historic District, which includes 22 oak laden squares, and 1,600 historic and architecturally significant structures – all within walking distance.”

“This expansion of our fee-based services business is a continuation of efforts that began in 2009,” explains Terry Dodd, Senior Vice President of Development Services for Bluegreen. “We are pleased to bring the appeal of the Bluegreen Vacation Club to the Studio Homes at Ellis Square. We look forward to providing our extensive sales and marketing platform, as well as our expertise in resort management and mortgage servicing to the new property. We believe that this is going to be an exciting relationship.”

“This is the first project we have contracted which was not originally conceived as a timeshare resort,” Dodd continued. “We believe this marks an excellent first step into an untapped market of future opportunities."

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