WCI Puts Seven Golf Courses on the Market
The portfolio includes all of the golf courses, club amenities, maintenance equipment and facilities
Palm Coast, FL – April 12, 2010
Tampa Bay Business Journal – today
WCI Communities has hired Marcus & Millichap Real Estate Investment Services to help it sell seven of its golf courses located in Sun City Center.
The portfolio includes two premier 18-hole courses – Scepter Golf Club and Club Renaissance – as well as two 27-hole championship courses – Falcon Watch and Sandpiper. It also includes executive courses Kings Point and Caloosa Greens, and the 18-hole North Lakes Golf Club.
We’re already tee’d off
At the economy, and it’s beinging to look like par for the course. The tax payers of Palm Coast are proud owners of a $6 million dollar Palm Harbor Golf Course that no one is playing on, and it wouldn’t bring $2 million at sale. They do make nice tent cities though, and could be plowed up for crops.
Reply to George
The broker website lists the sale price for all seven courses at $13,275,000. That works out to slightly less than $1.9M each.The broker also claims the 7-course portfolio has a positive EBITDA (earnings before interest, taxation, depreciation).