Fairway Advisors to Sell Treasure Coast Golf Course
May 15, 2006 (PRLEAP.COM) Sports NewsFairway Advisors has been retained as the exclusive advisor in the sale of St. James Golf Club located in Port St. Lucie, Florida. St. James Golf Club is a championship, semi-private club designed by Warren Henderson. Fairway Advisors has been named today for the marketing and negotiation of the sale transaction.
Jeff Davis, President of Fairway Advisors, comments, "St. James was acquired in September 2005 as part of a 17 golf course portfolio. It is one of the only two golf courses in the portfolio not located in the Mid-Atlantic States. St. James Golf Club doesn’t offer current ownership synergies based upon its location. The current owners did not intended to keep St. James when they bought the portfolio. However, ownership couldn’t sell it right away without making improvements to the property.”
Pure Golf, a golf management company based in Maryland, was hired to improve the golf course’s conditioning. “The greens, tees and fairways are in the best shape they have been in since St. James opened in 2000. A new owner will have a turn key facility at a fraction of replacement cost,” says Davis.
St. James Golf Club has the lowest historical green fees in the area, even lower than competing municipal golf courses. Davis believes a new owner will be able to charge a higher daily rate as a result of the course’s improved conditioning.
Davis says he has received a large amount of interest from investors. A sale is expected by the end of the year. Information about this opportunity can be obtained by visiting Fairway Advisors’ website www.fairwayadvisors.com.