Michael Jordan Teams Up With Diversified Real Estate Concepts in $600 Million Las Vegas Luxury Condominium Hotel Resort

Press Release: Michael Scott Peterson
Media Contact:  DiversifiedRealEstateConcepts.com

CHICAGO, IL, January 6, 2005

Michael Scott Peterson and Diversified Real Estate Concepts, Inc. is pleased to announce its partnership with Michael Jordan on the new Aqua Blue Luxury Condominium-Hotel Resort and Spa in Las Vegas, Nevada.

Aqua Blue will be built on a six-acre site adjacent to The Platinum, another luxury development by Michael Scott Peterson, Diversified Real Estate Concepts, located one block from Bellagio Hotel and Casino, Caesars Palace and the Las Vegas strip.

Aqua Blue advances the idea of the traditional condominium-hotel property by offering exceptional luxury amenities, including a boutique casino, 8,000 square foot European spa, rooftop and 11th floor pools, whirlpools, waterfalls and cabanas, 2 Michael Jordan restaurant concepts, as well as a rooftop nightclub and restaurant designed by Jeffrey Beers, together with the first of its kind Michael Jordan Athletic Center. The 65,000-square-foot athletic center, which will be open to both residents and guests, will feature state-of-the-art fitness equipment, 2 basketball courts, tennis court, running track, aerobics rooms and free weights and be staffed by top instructors and trainers. Slated for ground breaking in the fall of 2005, sales are beginning this week for the 825-unit Aqua Blue resort.

“The goal of this project is to bring a new level of sophistication to hospitality in Las Vegas and to being a world-class fitness facility and new top-notch dining options to our exciting new property,” said Michael Peterson, sole owner of Diversified Real Estate Concepts. “I am especially thrilled that Aqua Blue was chosen as the site of the first-ever Michael Jordan Athletic Center.” Aqua Blue will also house 2 Michael Jordan restaurants: the Michael Jordan’s Steak House and Michael Jordan’s 23.sportcafe. Michael Jordan’s Steak House, the modern American steak house, has created a reputation of distinction among its peers. Driven by Michael Jordan’s commitment to excellence and specializing in USDA Prime Steaks and Chops, Michael Jordan’s Steak House offers a contemporary approach to steak house classics. The more casual Michael Jordan’s 23.sportcafe is a vibrant and lively casual restaurant that celebrates the extraordinary career of Michael Jordan. A unique, upscale approach to the traditional sports bar experience, 23.sportcafe is a spirited restaurant where guests come to enjoy great food while surrounded by silk screens that feature sports from around the nation. “I’m pleased to be expanding my group of restaurants into Las Vegas, which has become one of the country’s top dining destinations,” said Michael Jordan.”Additionally, my passion for training and athletic excellence has led me to create the state-of-the-art Michael Jordan Athletic Center, which I feel will be the perfect fitness facility… I am also pleased to be partnering with a person of such high integrity as Michael Peterson and Diversified Real Estate Concepts.” The Aqua Blue design team is being led by Jeffrey Beers. An internationally renowned designer, Beers is charged with creating one of Las Vegas’ most spectacular resorts. Beers has been lauded for his work in creating Las Vegas restaurants/clubs Rum Jungle, Tabu and China Grill, among others. Priced from $399,000 and up, Aqua Blue residences will feature fully appointed, furnished suites with terrace, gourmet kitchen, oversize whirlpool tub and fireplace as standard features; owners will have full access to Aqua Blue’s full complement of amenities and services. When not in residence, owners will have the ability to make their condominium available through the on-site hotel rental program.

(Chicago/Las Vegas)

Established by Michael Scott Peterson, and solely owned, Diversified Real Estate Concepts, Inc. is associated with all aspects of recreational condominium, hotel, and commercial real estate development including land acquisition, design conception, construction planning, establishing marketing strategy and the highest level of excellence achievable. Diversified Real Estate Concepts, Inc. consistently strives for a degree of performance and professionalism to set the standard of example in the real estate development industry. Michael Scott Peterson, a leading developer of award-winning waterfront condominium developments, marinas, hotels, restaurants, and luxury homes, is a graduate of the University of Wisconsin-Madison where he received a Masters Degree in Business Administration specializing in Marketing, Real Estate Appraisal and Investment Analysis under the directive of the late Professor James Graaskamp. He also served as an Instructor at Madison Business College teaching courses in Business Law, Real Estate Law and Management Principles.

An NBA legend, Jordan virtually rewrote the record book. He played 13 seasons for the Chicago Bulls and 2 seasons for the Washington Wizards, leading the league in scoring a record 10 times. His 30.1 points-per-game average is the highest in NBA history and, with 32,292 points, he ranks 3rd on the all-time scoring list. Jordan led the Chicago Bulls to 6 NBA Championship titles and was named NBA Finals MVP during each of those series. A 5-time regular season MVP, in 1991 and 1992, he became the only player to win back-to-back regular season and Finals MVP awards. In addition to those amazing accomplishments, Jordan was also: NBA Rookie of the Year, 2-time Slam Dunk Champion, 9-time NBA All Defensive Team Selection, twice an Olympic Gold Medalist, NCAA College Player of the Year twice, NCAA National Championship winner, and ACC Freshman of the Year.

Jump Higher, L.L.C. and Cornerstone Management and Consulting, Inc., led by restaurateurs Jonathan Albert and David Zadikoff, in partnership with Michael Jordan, oversee all Michael Jordan-brand restaurants including fine-dining restaurants one sixtyblue, Chicago, Michael Jordan’s The Steak House N.Y.C., owned and operated by The Glazier Group, Michael Jordan’s Steak House and Michael Jordan’s 23. sportcafe at Mohegan Sun Resort & Casino: Uncasville, CT. Cornerstone Management and Consulting, Inc. also works with WAVE restaurant in the W Hotel Chicago – Lakeshore, Ristorante WE in the W Hotel Chicago – City Center and Solea in the W Hotel Mexico City.