The Pellucid Perspective - June 2023 - 11

Event
Course
Falcon Crest
Golf Club
Open/Re-open
Eldorado Hills
Golf Course
Closed
Crescent Oaks
Country Club
Rivers Edge Golf
Club
Wilson Country
Club
The Historic
Tanglewood Club
Back Creek Golf
Club
Westchester Golf
& Country Club
Links at Gettysburg
Transacted/For
Sale/Auction
Country
Club of
Otterkill
Treasure Hills
Golf Club
Claremont Country
Club
Tampa-St.Petersburg
(Sarasota)
FL
Pub/18
Wilmington NC Pub/18
Raleigh-Durham
(Fayetteville) NC
Cleveland-Akron
(Canton) OH
Priv/18
Pub/18
LIPG listing, EBITDA $0.5M yields 18% Op Marg.,
1.4 Gross Inc. Multiplier
LIPG listing, EBITDA $3.0M yields 37% Op Marg.,
2.6 Gross Inc. Multiplier, currently managed by
East Coast Golf Mngmnt
Purchased by McConnell Golf, their 17th
acquisition concentrated in the SE, primarily
private clubs
For Sale via LIPG, price reduced fm $2.5 to
$2.2M (was last listed in '19 at $1.4M), projects
Gross Inc. @ $2.1M so asking 1.1x Gross Inc.
Multiplier; Chagrin Falls OH location not a thriving
metropolis
Philadelphia PA Pub/18
West Palm
Beach-Fort
Pierce FL
Harrisburg-Lancaster-LebanonYork
PA
New York NY
Harlingen-Weslaco-BrownsvilleMcallen
TX
San FranciscoOakland-San
Jose
CA
Pub/45
Pub/18
Priv/18
Pub/18
Priv/18
Sold via GPA, no financial details disclosed, will
be managed by Ron Jaworski Golf
Listed by GPA, $4.4M Gross Inc.
Listed by GPA, no supporting financials
Listed by GPA, no supporting financials, last listed
in '19
Listed by Fairway Advisors for ViRaj Golf which
purchased the course in '15; has add'l land for
development but seems tied to Treasure Hills City
dream which is reported to be faltering
Purchased by Ohana Real Estate fm FRHI Hotels &
Resorts in all-cash deal (wow). Last transacted in
'14 for $86M, extensive investments made but still
likely a sold return @ 2x in 10 yrs, includes hotel,
spa etc. in addition to golf
Salem Golf Club Youngstown OH Priv/18
Calusa Pines
Golf Club
Waterford Golf
Club
Capri Isles Golf
Club
Ft. Myers-Naples
FL
Tampa-St.Petersburg
(Sarasota)
FL
Tampa-St.Petersburg
(Sarasota)
FL
www.PellucidcorP.com
Priv/18
Saved from the auction block by local member
John Buta, county record shows $1.5M transaction
for land & buildings
3-facility portfolio called " Golf in Venice " ,
purchased by Coral Investment Group/ITG Group
to add to existing 5 courses owned and 4 they
manage, will join the " membership network " with
reciprocal privileges to Coral's portfolio
Pub/27
Pub/18
2nd " Golf in Venice " property, 27 holes on this
semi-private property
3rd " Golf in Venice " property
Sioux City IA
Pub/18
DMA
Boise ID
Type/Holes Summary
Pub/9
Re-opened and re-named 9-hole The Cadet Course
(formerly Robin Hood) as part of the 36-hole
facility, Valor is luxury master planned community
continuing development & incorporating the golf
properties
Re-open,ownership changes to Eldorado Hills
Community Assoc. (appears to be citizens vs.
gov't entity); bringing back orig. architect Kevin
Bruening, have money but still need a plan/timing
The Pellucid PersPecTive
11
http://www.PellucidcorP.com
The Pellucid Perspective - June 2023

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