Featured Golf News
St. James Golf Club in Port St. Lucie For Sale
Fairway Advisors of Dallas has been retained to oversee the sale of St. James Golf Club in Port St. Lucie, Fla. St. James Golf Club is a semiprivate club designed by Warren Henderson. Fairway Advisors will handle the marketing and negotiation of the transaction.
Jeff Davis, president of Fairway Advisors, said, "St. James was acquired in September 2005 as part of a 17-golf course portfolio. It is one of the only two golf courses in the portfolio not located in the Mid-Atlantic States. St. James Golf Club doesn’t offer current ownership synergies based upon its location. The current owners did not intend to keep St. James when they bought the portfolio. However, ownership couldn’t sell it right away without making improvements to the property.”
Pure Golf, a golf management company based in Maryland, was hired to improve the golf course’s conditioning. “The greens, tees and fairways are in the best shape they have been in since St. James opened in 2000. A new owner will have a turnkey facility at a fraction of replacement cost,” says Davis.
St. James Golf Club offers some of the lowest green fees in the area, even lower than competing municipal facilities. Davis believes a new owner will be able to charge a higher daily rate as a result of the course’s improved conditioning.
Davis says he has received a large amount of interest from investors. A sale is expected by the end of the year and a bid deadline of July 15, 2006, has been established. For more information, visit www.fairwayadvisors.com.