The Pellucid Perspective - August 2024 - 11

Event
Course
Eagle's Landing
Golf Club
Lane Creek Golf
Club
Jennings Mill
Country Club
DMA
Toledo OH
Atlanta GA
Type/Holes Summary
PUB/18
PUB/18
Back-on-market by LIPG @ $2.2M (7.4x EBITDA?),
joint listing with Riverby Hills also in Toledo CBSA
(one or both)
Sold in dual transaction w/Jennings Mill CC. Lane
Creek previously scheduled for auction but looks like
a " creative combo " deal was worked out, price not
disclosed (possibly a GEICO special " (bundle and
save))
Atlanta GA
PUB/18
Sold in dual transaction w/Lane Creek (price not
disclosed) to multi-course owner (not operator, so
that narrows the field); high-end private club just
outside Athens GA (Univ. of GA), positioned at
premium price for discriminating buyer " seeking
to enhance the club's legacy and unlock its full
potential for years to come "
Transacted/For
Sale/Auction
TPC at Jasna
Polana
Country Club of
Gwinnett
Cummings Cove
Golf & Country
Club
Cedar Creek
Golf Club
Redevelopment
The Fox Valley
Club
Other
Buffalo NY
PRIV/18
One of 3 divested NE courses by TX-based
C-BONS in '21 ($750K firesale), Ravi Bansal
50% investor who will now buy out remaining
50% shareholders and convert to Private in '25.
According to Club & Resort Business, Ravi has
invested $3M in renovation and will put in another
mil to bring up to Private Club quality standards
Philadelphia PA PRIV/18
Concert Golf's 34th property in latest acquisition,
Clearlake Capital (Concert money) has ties to
Princeton and local social scene which likely
contributed, sold by Piasecka Johnson Family (of
J&J consumer products fame)
Atlanta GA
PUB/18
Time-on-Market ~6 mos., online auction via LIPG
(sale price not disclosed), grossing ~$1.1M
& $400K EBITDA (36% NOM?), outlying ATL
suburbs, potential redevelopment due to zoning
(single family)
Greenville-Spartanburg
SC-Asheville
NC-Anderson
SC
Augusta GA
PUB/18
Listing by LIPG, '23 Gross Rev. $1.6M (GIM 1.8x),
CapRate 13.9%/EBIDTAx 7.22 according to listing,
still selling lots and mandatory social membership
which is unique feature
PUB/18
Back-on-Market per Miller Management Aiken
SC listing for $2.2M, includes 6 add'l lots and
2.5 add'l acreage, price revised down 3/24 to
$1.975M
Trenton Golf Club
Chattanooga, TN
LIPG listing, existing GC
& 700+ residential lots for
sales/development according
to listing
WWW.YOUTUBE.COM/WATCH?V=R2SCKUX5INK
www.PellucidcorP.com
The Pellucid PersPecTive
11
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The Pellucid Perspective - August 2024

Table of Contents for the Digital Edition of The Pellucid Perspective - August 2024

TOC
ADA website accessibility: shakedown for golf ahead?
3 industry myths on golfer base growth explored
Thin activity (10) continues, mostly lateral movement (Transactions/Listings)
July delivers setback with GPH -4%, Year-to-Date unchanged at -3%
Jun Utilization jumps (+6 pts), Year-to-Date also positive at +2 pts
Tucson, AZ: Surprising showing as the #3 strongest golf market in the US
The Pellucid Perspective - August 2024 - TOC
The Pellucid Perspective - August 2024 - ADA website accessibility: shakedown for golf ahead?
The Pellucid Perspective - August 2024 - 3 industry myths on golfer base growth explored
The Pellucid Perspective - August 2024 - 4
The Pellucid Perspective - August 2024 - 5
The Pellucid Perspective - August 2024 - 6
The Pellucid Perspective - August 2024 - 7
The Pellucid Perspective - August 2024 - 8
The Pellucid Perspective - August 2024 - 9
The Pellucid Perspective - August 2024 - Thin activity (10) continues, mostly lateral movement (Transactions/Listings)
The Pellucid Perspective - August 2024 - 11
The Pellucid Perspective - August 2024 - July delivers setback with GPH -4%, Year-to-Date unchanged at -3%
The Pellucid Perspective - August 2024 - 13
The Pellucid Perspective - August 2024 - Jun Utilization jumps (+6 pts), Year-to-Date also positive at +2 pts
The Pellucid Perspective - August 2024 - 15
The Pellucid Perspective - August 2024 - Tucson, AZ: Surprising showing as the #3 strongest golf market in the US
The Pellucid Perspective - August 2024 - 17
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