Leisure Investment Properties Group Arranges the Sale of Woodmont Golf & Country Club
ATLANTA, GA, May 11, 2016 – The Leisure Investment Properties Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Woodmont Golf & Country Club, located in Canton, GA, according to Steven Ekovich, First Vice President, National Managing Director and Director of the National Golf Division of the Leisure Investment Properties Group.
Terence Vanek, an investment advisor and Jr. Partner with the Leisure Investment Properties Group, had the exclusive listing to market Woodmont on behalf of the seller, John Wieland Homes and Wheelock Street Capital. Headquartered in Atlanta and recently acquired by PulteGroup, Wieland ranks among the country’s 100 largest homebuilders and is a leading builder of luxury homes in Atlanta, Charleston, Charlotte, Nashville and Raleigh. Wheelock Street Capital is a private real estate investment firm headquartered in Greenwich, CT, and manages $1.4 billion of cumulative equity capital.
Steven Ekovich, stated, “Terry Vanek, lead listing agent, launched a highly focused marketing campaign directly reaching out to only those buyers in our extensive database who were qualified to purchase the facility. Using a controlled marketing process, he generated multiple offers within 45 days of launch, while maintaining strict confidentiality for ownership. He continued to receive significant interest up until closing.”
“Woodmont is one of Atlanta’s most popular and active country clubs,” said Mr. Vanek. “I believe its Georgia’s only Robert Trent Jones, Jr. design – a premier golf destination and first class club experience. It’s not just golf either, but a favorite for weddings and banquets, and Neighborhood gathering place with Racquet, Swim and Summer Club amenities.
Dan Green, Wheelock principal and head of land acquisition, stated, “This is the second golf asset the Leisure Team has sold for us. Terry Vanek has done a terrific job prioritizing our goal to maximize proceeds in the sale, but also preserve the future of a spectacular golf course for the Pulte Brand.”
“It’s been really exciting to see the renewed interest in golf as an investment asset,” Mr. Vanek continued. “This is the eighth property our team has closed this year, and we have another 15 under contract and scheduled to close in the coming months. It had been a rough couple of years for the golf industry, and to see golf competing as a prized asset class in the universe of investment real estate, bodes well for the future of the industry.