Golf Division of the Leisure Investment Properties Group Sells Indigo Lakes Golf Club

by / Tuesday, 10 June 2014 / Published in Company News, Golf

Daytona Beach, 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 Indigo Lakes Golf Club, an 18-hole championship golf course located in Daytona Beach, according to Steven Ekovich, Director of the firm’s National Golf & Resort Properties Group based in Tampa, Florida.

Matt Putnam, the lead agent on the asset sale, represented the seller, PNC Bank. Matt Putnam also facilitated the buyer, Indigo Lakes Golf Club, LP with the cooperation of Mike Kahn who acted as a consultant on behalf of the buying group in the acquisition of the property. Mr. Putnam said that “The managing partners of Indigo Lakes Golf Club, LP saw a fantastic opportunity to invest in an extremely well located golf club with a long storied history. Their plans to make investments into the golf operation over and above the acquisition cost and put Indigo Lakes back on the map one of the best courses in North Florida will undoubtedly be well received within the local community and beyond.”

Indigo Lakes Golf Club is a Lloyd Clifton design that once played host to the LPGA Championship, Hooters Championship and LPGA Qualifying School. Over the course’s storied history, it has been rated time and again as one of the “Top 10 Golf Courses in Florida” by GolfWeek Magazine. In addition to the golf operation, this asset has a valuable development opportunity on many of the residual land tracts not pertinent to the golf course. With 262 total acres in a fantastic location adjacent to the Daytona International Speedway and Daytona International Airport, as well as frontage and easy access to the busiest section of I-95 in Florida, Indigo Lakes is a prime location for several different development options.

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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 6,149 transactions in 2012, 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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