Featured Golf News
Stallion Mountain Golf Club to Be Auctioned August 16
July 27, 2009. Keith Cubba, broker with the Land & Investment Group at Colliers International - Las Vegas, announced today that sealed bids are currently being accepted to acquire Stallion Mountain Golf Club, an 18-hole, par-72 championship golf course located just 6.9 miles from the Las Vegas Strip. Bids will be accepted on the foreclosed property through August 16, and bidding instructions, along with complete information on the property, can be found online at www.collierslv.listinglab.com/SMGC.
Situated on a 204-acre site on E. Flamingo Road, Stallion Mountain is located within a 2,600-home, guard-gated community. The property includes a 37,500-square-foot clubhouse with full-service kitchen and restaurant, a second 18,000-square-foot clubhouse and a 16-acre practice facility. The strongest selling point, besides the course's championship-quality layout and being only 15 minutes from the Las Vegas Strip, is a water contract that gives the facility a competitive advantage.
Originally known as Sunrise Country Club, PGA Tour player Jim Colbert built a three-course facility in 1995, and then sold it to Walters Golf in 1997. Two of the courses were subsequently sold off as residential land, and the remaining course was sold in 2006 to private investors for $24.5 million. In 2008, after owners couldn't meet their debt service, the course was taken back by the lender, Community Bank of Nevada. Upon the failure of Community Bank of Nevada in August of 2009, the FDIC took control of Stallion Mountain Golf Course in receivership.
"Golf courses rarely trade hands in Nevada, and when they do, they are typically done as off-market deals that aren't open to public bidding," said Cubba, a member of Colliers' National Golf Course Brokerage team. "Not only is the Stallion Mountain offering open to public bidding, the course is exceptionally well-positioned in relationship to the general population and the Strip, and the water contract gives a buyer an immediate competitive advantage."
For more information on Stallion Mountain Golf Club and instructions on how to participate in the auction, visit www.collierslv.listinglab.com/SMGC or contact Keith Cubba at Colliers International at 702/836-3733.
About Colliers International
Colliers International is a global leader in real estate services with more than 15,000 professionals operating out of 480 offices in 61 countries. As a subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), Colliers offers the stability of a strong financial partner and significant local ownership providing clients with accountability and enterprising real estate solutions. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. The Lipsey Company and National Real Estate Investor magazine ranked Colliers International as the world's number two commercial real estate brand.
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