Leisure Investment Properties Group Sells Horseshoe Bend Country Club
Rowell, GA – The National Golf & Resort Group of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Horseshoe Bend, a 18 hole high end private course located in Rowell GA, an affluent suburb of Atlanta, according to Steven Ekovich, Director of the National Golf & Resort Group. The sales price is confidential by request of both the buyer and seller but the list price was $7,500,000.
Steven Ekovich, the lead agent on the asset sale and his team of Chris Karamitsos and Matt Putnam, represented the seller, CB Horseshoe BEND LLC/CB Asset Resolution Corporation and also facilitated the sale for the buyer, Ben Kenny.
Mr. Kenny does have plans for some add-value components for the course and will release his plans at a future date.
This course which was an REO, resides in an affluent upscale community, with an extraordinary swim and tennis facility. Ekovich stated, “this was one of the gems of the Atlanta golf market that would not otherwise have been available without the Great Recession. The opportunity for Mr. Kenny’s group to acquire an asset that needed some attention and take it to the next level will benefit not only the golf members but the Horseshoe Bend community at large.”
With five holes that front the historic Chattahoochee River, the course underwent a significant redesign in 1999 by Bill Boswell with new greens, tees, bunkers, cart paths and a state of the art irrigation system. The championship course features a traditional layout that plays up to 6,800 yards from the back tees. Amenities at Horseshoe Bend include a tennis complex featuring a mix of 14 clay and hard surface courts, a swim center with three pools, and pool and tennis clubhouses with a tennis pro shop. The 30,000-square foot clubhouse and golf pro shop includes banquet facilities that accommodate 200 guests comfortably. There is a wide variety of available membership options.
With more than 1,200 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 4,302 transactions in 2010, 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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