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YEAR IN REVIEWG O L F & R E S O R T P R O P E R T I E S 20
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2013 by any measure was a break out year in the golf and resort business. As the economy slowly
improves, so does the demand for real estate and this trickles down to investments in alternative real
estate like golf courses, ski resorts, marinas and other recreational real estate. The CBRE Golf & Resort
Group had one of its best years ever selling 15 properties for $138.5 million.
Second home and resort real estate is finally starting to move, especially at the lower price points, but
it still has a long way to go before it’s healthy. There has been an increase in the number of stand-
alone golf course buyers, which is creating some upward pressure on pricing of quality facilities, but
investment metrics are still basically the same as they have been for the past several years. Caribbean
real estate was the last to climb out of the recession but is finally showing signs of life. Typical with the
ski industry, some resorts had a great year and others struggled…depending on how much snow they
received. We are seeing trends in all sectors that we’d love to share with you.
In 2014 we’ll see more debt restructuring but overall less distressed properties. There will be more
strategic sellers and more buyers for those assets as money starts to free up, looking for higher yields.
To date we’ve already sold several properties, so we’re expecting another robust year. Please feel free
to call us, as we would enjoy speaking with you. Best of luck in 2014.
Cheers!
Jeff Woolson Managing Director CBRE Golf & Resort Properties
SOLD GARDEN OF THE GODS CLUB
C O L O R A D O S P R I N G S , C O L O R A D O
October 2013Resort I Lodge I Private Country Club
SOLDMOONLIGHT BASIN
B I G S K Y , M O N T A N A
October 2013Ski Resort I Developable Land I Private Golf Club
SOLD
THE LINKS AT SUMMERLYL A K E E L S I N O R E , C A L I F O R N I A
September 2013Daily Fee Golf Course
SOLD
THE GOLF CLUB AT TERRA LAGOI N D I O , C A L I F O R N I A
August 2013Daily Fee Golf Course
TPC Snoqualmie Ridge, Washington
SOLD
BRIGHTSTAR PORTFOLIOD E N V E R , C O L O R A D O S E A T T L E , W A S H I N G T O N
July 20133 Private Country Clubs
The Pinery Country Club, Colorado
The Club at Pradera, Colorado
SOLD
BRIGHTSTAR PORTFOLIOD E N V E R , C O L O R A D O S E A T T L E , W A S H I N G T O N
July 20133 Private Country Clubs
SOLDHIDDENBROOKE GOLF CLUB
V A L L E J O , C A L I F O R N I A
May 2013Daily Fee Golf Course I Developable land SO
LDHIDDENBROOKE GOLF CLUBV A L L E J O , C A L I F O R N I A
May 2013Daily Fee Golf Course I Developable Land
SOLD
WINCHESTER COUNTRY CLUBA U B U R N , C A L I F O R N I A
January 2013Semi Private Golf Club I Developable Land
SOLD
WARNER SPRINGS RANCHW A R N E R S P R I N G S , C A L I F O R N I A
April 2013Golf Resort I Developable Land I Equestrian Center Lodge I Mineral Springs I Private Airport
Shadow Hawk Golf ClubRedstone Golf Club
The Houstonian Golf & Country Club
SOLD
REDSTONE PORTFOLIOH O U S T O N , T E X A S
April 20134 Golf & Country Clubs
Redstone Golf Club
BlackHorse Golf Club
PALMILLA BEACH RESORT AND GOLF CLUBP O R T A R A N S A S , T E X A S
February 2013Daily Fee Golf Course I Developable Land
SOLD
Sonoma Golf Club, California Glen Annie Golf Club, California
Sand Creek Country Club, Indiana
Fairmont St Andrews, Scotland
Thousand Islands Portfolio, New York
P R E V I E W20
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Bear Valley Mountain Resort, California
Amaryllis Beach Resort, Barbados
El Conquistador Resort & Country Club, Arizona Sur Mer, Bahamas
Mammoth Lakes Parcels, California Sandy Bay Beach Club, Barbados
Mt. Washington Alpine Resort, British Columbia
Antigua Land Portfolio
Morgan AbbottSenior Underwriter [email protected]
Jeff WoolsonManaging Director [email protected]
CBRE GOLF & RESORT PROPERTIES www.cbre.com/golfandresort760 438 8500
