Marcus & Millichap Awarded Exclusive Listing to Sell Eagle Ridge Golf Club in Fort Myers, Florida
Tampa, FL, February 21, 2014 --(PR.com
)-- National Golf & Resort Properties Group of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been retained to exclusively market for sale the Eagle Ridge Golf Club located in Fort Myers, Florida, according to Steven Ekovich, Managing Director of the National Golf & Resort Properties Group. Matthew Putnam, Associate is the listing broker for this REO golf acquisition course opportunity.
Priced at $2,100,000, the exclusive offer to acquire Eagle Ridge Golf Club in Fort Myers, Florida, is the perfect addition to any golf portfolio or for first-time buyer. This offer includes a daily-fee, 18-hole golf course designed by course architect Gordon Lewis. The Club has been under Bank REO ownership for over three years and therefore presents a significant upside opportunity for potential investors. The property covers approximately 129 acres within Fort Myers. The course is complemented by a short-game practice area and a functional, 6,400-square foot clubhouse with Pro Shop and casual dining.
Mr. Putnam states, “Fort Myers is a strong market for golf, with considerable demand from retirees, local homeowners and seasonal visitors. While the market features a relatively high number of golf courses, the majority of these are private clubs which cater to immediate neighborhoods. A well-maintained public course, such as Eagle Ridge, is strategically positioned to capture a large portion of local golfers and out-of-area guests. Many of today’s golfers feel they receive greater value by playing at high-quality public facilities, rather than paying monthly dues.”
In addition, Eagle Ridge has had year-over-year growth in revenue since 2010, with positive cash flow and a 2013 CAP Rate of 11%. Eagle Ridge played over 36,000 rounds in 2013.
To obtain more information on this offering, please contact lead agent Matthew Putnam at 813-387-4847, or visit www.nationalgolfgroup.com.
About National Golf & Resort Properties Group: Founded in 2009, National Golf & Resort Properties Group has become the renowned industry leader in golf course sales nationwide. The group has sold 48 courses, within the last few years, as well as underwritten $1 billion in golf assets. The National Golf & Resort Properties Group successes are unprecedented in the golf course industry. Our management team has over 25 years’ experience in both golf and commercial real estate and 20 years PGA professional management experience. For more information please visit: www.nationalgolfgroup.com.
About Marcus Millichap: With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.