LandMar COO Leaves Five Months after CEO’s Departure

Chief operating officer, Roger Postlethwaite, leaves LandMar Group LLC shortly after founder, Ed Burr’s resignation.

February 24, 2008 – Palm Coast, FL – LandMar Group LLC, a Jacksonville based developer with a significant Palm Coast presence, recently announced the departure of its chief operating officer, Roger Postlethwaite. His duties will be assumed by Margaret Jennesse, who was named senior vice president. Jennesse joined Landmar in 2005 following 16 years with The St. Joe Company.

LandMar is a subsidiary of Crescent Resources LLC which, in turn is a joint venture between Morgan Stanley Real Estate Fund (MSREF) and Duke Energy. When his attempts to buy back controlling interest in LandMar broke down last year, founder Ed Burr resigned. Postlethwaite had been with Burr since before Burr sold his interest to Crescent Resources in 1999.

LandMar has several projects in Palm Coast. They are completing development of Grand Haven, a Jack Nicklaus Signature Golf Course community on Colbert Lane. A subsidiary, The Grand Club LLC, owns three other golf courses in Palm Coast. LandMar also is developing Grand Landings south of the Flagler County Airport.  In addition, they are in the permitting stages of two other projects; one adjacent to the Matanzas Golf Course and the other straddling Roberts Road north of SR100.