Marcus & Millichap Real Estate Investment Services brokered two recent golf course sales — the Plantation Palms Golf Course in Land O’ Lakes, Fla. and Horseshoe Bend in Roswell, Ga.
Plantation Palms Golf Course, a 18-Daily Fee Course in the Tampa Bay region, sold for $2,175,000, according to Steven Ekovich, Director of the National Golf & Resort Group of Marcus & Millichap.
Horeshoe Bend’s sales price is confidential, but the list price was $7,500,000. It is high-end private club in an affluent suburb of Atlanta. Ekovich represented the seller, CB Horseshoe BEND LLC/CB Asset Resolution Corporation and also facilitated the sale for the buyer, Ben Kenny.
“This was one of the gems of the Atlanta golf market that would not otherwise have been available without the Great Recession,” Ekovich said. “The opportunity for Mr. Kenny’s group to acquire an asset that needed some attention and take it to the next level will benefit not only the golf members but the Horseshoe Bend community at large.”
Kenny plans to upgrade the facility, but has not released details. The club has a swim center with three pools, and a tennis facility with 14 clay and hard surface courts. The golf course underwent a significant redesign in 1999 by Bill Boswell with new greens, tees, bunkers, cart paths and a state of the art irrigation system.
Plantation Palms was acquired by the MJS Golf Group, which has ties to the Hard Rock Casino in Tampa. Skyland Development was the seller. Ekovich, the lead agent on the asset sale and his team of Chris Karamitsos and Matt Putnam, represented both buyer and seller on this deal as well. Designed by David Harman in 2000, Plantation Palms is a links-style design that features many elevation changes. The club has hosted numerous PGA tournaments.