Golf Division of the Leisure Investment Properties Group Sells Hartefeld National Golf Club
Avondale, VA – 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 Hartefeld National Golf Club, 259 acre golf course located in Avondale, according to Steven Ekovich, Director of the National Golf & Resort Group of the firm’s Tampa office.
Steven Ekovich, the lead agent on the asset sale and Tom Gorman of the Philadelphia office of Marcus & Millichap, represented the seller, a financial institution based in Pennsylvania. Steve Ekovich also facilitated the buyer, ClubCorp 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 ClubCorp would be the best fit for both the seller and club members. ClubCorp is one of the few well capitalized golf firms in the industry; they have the expertise to understand the complexities of this asset as well as provide the necessary capital, leadership and programing that Hartefeld members were clamoring for.” Hartefeld National, a private country club that features one of the Northeast’s most honored golf courses, is a Tom Fazio-designed championship course that has served as the site of both a PGA TOUR and Senior PGA Tour event. The purchase of Hartefeld National marks the fifth acquisition in less than a year for ClubCorp, which plans to spend more than $1 million in capital improvements to the club.
Named by Golfweek magazine as a top 10 course in Pennsylvania and previously ranked fourth in “America’s Top 50 Courses for Women” by Golf Digest for Women, the challenging Hartefeld National golf course features dramatic elevation changes, breathtaking vistas, majestic tree lines of oak, beech, holly, and pine, terraced tee boxes and sculptured greens. The course has earned a host of additional accolades and awards from publications and organizations including Golf Digest, GOLF Magazine, The Philadelphia Inquirer, Washington Golf Monthly, the Zagat Dining Survey, Delaware Today and the PGA.
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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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