Tucked away in New England, on 350 acres of rolling, wooded land, is the picturesque Ipswich Country Club. One of Massachusetts's most admired golf courses and country clubs, the lush 18-hole golf course was designed by the legendary Robert Trent Jones, Sr. and architect DiMella Shaffer.

The club boasts an amazing 52,000 square foot clubhouse with breathtaking views of the golf course - just one of the many design features that place the club in a category of its own.

In fact, DiMella Shaffer won numerous design awards for this project including one by New England Regional Council AIA and both a Gold and Silver award from the American Resorts and Residential Development Association.

In addition to the clubhouse, a community of luxurious homes built by C.P. Berry is nestled around the championship golf course.

The Ipswich Country Club was not always the flourishing, successful, upscale community that it is today. This project had been developed to much fanfare in the late 1980s, but because of the depressed real estate market had fallen into the hands of lenders.

In 1992, Mr. Alpert first became involved with the rejuvenation and redevelopment of Ipswich Country Club. After assembling a limited partnership composed of New York investors for the purpose of acquiring the club, and competing against other well known suitors for this "trophy" project, Mr. Alpert successfully negotiated the acquisition for his group of investors at $5.8 million (versus a cost of $13.7 million in 1988-89) by raising $2.25 million equity capital.

Once completing the Ipswich Country Club acquisition, Mr. Alpert relocated to Massachusetts to oversee the repositioning and marketing of the club. After successfully steering the resurgence of the club in less than two years, Mr. Alpert capitalized on the considerable market interest generated by the well known project's high profile "comeback" by negotiating and concluding a transaction associating the Ipswich Country Club with Club Corporation of America (CCA),the largest owner of private clubs in the world.

In March, 1994, CCA exercised its option to acquire sole ownership of the club, resulting in a successful conclusion to the investment made by Mr. Alpert and his partners.