Golf & Resort Divisions of the Leisure Investment Properties Group Sell Ritz-Carlton Golf Club & Spa to the Trump Organization
Jupiter, FL – The National Golf & Resort Properties Group of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the former Ritz-Carlton Golf Club & Spa located in Jupiter, Florida, according to Steven Ekovich, Director of the firm’s National Golf & Resort Properties Group based in Tampa, Florida.
Ekovich, the lead agent on the asset sale, represented the seller and also facilitated the buyer, The Trump Organization, in the acquisition of the property. Mr. Ekovich said that “after an exhaustive international search for the right buyer for this club, it was determined that Trump would be the best fit for both the seller and club members. Our marketing process procured buyers throughout the US and all over the world who were interested in this property because of the exceptional quality of the facility and the location. The deal making process was very complex as a result of the golf course and residential elements being intertwined from a service and maintenance standpoint within the resort operations. The Trump Organization, has big plans for the property which will be renamed Trump National Golf Club, Jupiter. Very few buyers possessed the level of sophistication to deal with the complicated shared services agreement like The Trump Organization was able to do.
This exclusive, private club includes the beautifully manicured 18-hole Jack Nicklaus Signature Course, a luxurious clubhouse, full-service Spa and fitness center encompassing approximately 75,000 square fee. The Club has received numerous awards since opening in 2002, including “World’s Best Golf Spas” by Forbes in 2008 and Golfweek’s 2007 distinction for “Best Residential Courses.”
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With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 5,085 transactions in 2011, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.
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