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.
2 replies
  1. George Meegan
    George Meegan says:

    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.

  2. Toby
    Toby says:

    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).

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