Case Studies
Our experience and track record are an advantage for every client of LIPG. Case studies demonstrate how each deal is unique, with particular challenges and potential obstacles that tend to be very nuanced or obscure – much different from core commercial real estate and residential real estate.
Explore LIPG case studies below to learn about different situations and the solutions our team can bring to your transaction.
Long-Term Advisory Relationships
Long-Term Advisory Relationships
Ownership of LPGA International was the largest developer and land owner in Daytona, Consolidated Tomoka Land. At the time, they were leasing the 36-hole golf course known as LPGA International from the city of Daytona. The investment was operating at a $900k loss, to which ownership decided to sell the asset so a new ownership/management group could better maximize the business.
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Multiple Competitive Offers
Multiple Competitive Offers
Ownership of Black Oak Marina starting discussing the potential sale of the property a few years ahead of the actual transaction. This was largely due to price being outside the range of expectation, to which LIPG continued to work with ownership over the following three years. The marina is predominantly storage income, and ownership had added another 25+ wet slips to further increase NOI, in addition to rent increases and increased boat rental revenue.
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Hiring LIPG After Previous Marketing Efforts
In June 2019, the LIPG marina team brought All Seasons Marina to market for $8,000,000. The owner had the property on the market for several years, with many different brokers during that time. This created a very challenging marketing process because LIPG was faced with a situation where the most serious buyers had already seen the property (and likely made conclusions about the asset), and when a property sits on market for a long time, it inherently creates a poor stigma.
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Hiring LIPG After Previous Marketing Efforts
Back-Up Offers
Flat Hollow Marina Resort is one of the largest marinas on Norris Lake, boasting 172 wet slips, 24 floating homes under management, a full service floating restaurant, chalets and more. During the initial valuation stage (Q1 2019), the LIPG demonstrated how the hospitality component at Flat Hollow accounted for a substantial percentage of the business.
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Back-Up Buyers
Golf Course Sale with $49M in Liabilities
Golf Course Sale with $49M in Liabilities
Marriott, owner of the Ritz-Carlton, was in the process of interviewing golf brokers to select the group to represent them in a sale. LIPG prepared a strategic analysis of the course, and strategies for Marriott’s exit that centered on pricing and a solution to the $49M in refundable initiation fees.
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Portfolio Sale
Portfolio Sale
After interviewing against the other major golf brokers for this assignment, Prudential selected Steven Ekovich to lead the pricing and marketing strategy for Ford’s Colony – a three-course golf country club and resort in Williamsburg, Virginia. Like any seller, Prudential valued the Strategic Analysis because it was transparent in presentation while fully articulating the value of the property in the current market. Understanding the trade range and data to support Mr. Ekovich’s approach, Prudential selected the Leisure Investment Properties Group for the assignment.
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17539 Darby Lane | Tampa, FL | 33558
(813) 269-1144
