GOLF PROPERTY NEWS, TRENDS & TRANSACTIONS

Number of Golf Courses and Major Buyers Dwindle 

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By Scott Kauffman (April 15, 2018) - For the 11th year in a row, the golf industry experienced more course closures than openings, with the equivalent of 211.5 18-hole facilities permanently closing in 2016, according to recently released data from the National Golf Foundation. That puts the total number of U.S. golf facilities at 15,014, comprising 14,117.5 open and operating 18-hole equivalents. The totals amount to a 1.2 percent contraction in supply from 2015, and a 5.9 percent overall reduction since the trend started in ’06.

Meanwhile, while the industry continues to experience this annual attrition in supply, the number of big-name golf course buyers have also dwindled over the past decade. Indeed, where at one time there was a dozen or so large private equity groups or major players chasing deals portfolios, that number can now be counted on one hand

Golf Clubs Reinventing Themselves with New Amenities

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By Scott Kauffman (March 18, 2019 - On a recent evening at Bella Collina, the private golf and lakefront community’s 75,000 square-foot Italianate clubhouse was bustling with activity as a 150 visitors enjoyed a night of fun and food. On the surface, this busy weekday wasn't out of the ordinary for Bella Collina, or any other private club that might be hosting a special member event. However, what made this night different is the fact it was composed of members celebrating one of the many destination weddings now being hosted by this picturesque Orlando residential golf club. As General Manager Jerry Thompson describes it, it’s one way to bring “golfers” back into the club when it’s dark outside. Welcome to the new-age private golf club.

Golf Course Communities Come Back from the Brink

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By Scott Kauffman  (March 1, 2019- There’s a saying that the Chinese word for ‘crisis’ is composed of two characters. One means danger; the other represents opportunity. This figure of speech – popularized by Pres. John F. Kennedy during a 1960s speech- most certainly describes the 2008 financial crisis that crippled many top golf and resort communities globally. Some of the biggest clubs that exemplify this saying are Bella Collina in Orlando, the Cliffs Communities in the Carolina mountains, and Reynolds Lake Oconee and Sea Island in Georgia. Perhaps the best examploe of this real estate sector's recent boom, bust and rebirth is Bella Collina, a preimier golf and lakefront community that is back selling and building golf course homes. 

Golf Courses Add Value to Real Estate/Home Prices

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By Scott Kauffman  (Marchl 4, 2019) - Real Estate developers have always used golf courses as a means to drive premiums in the price and value of vacant land and homes. 

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Now, a recent study by Florida Atlantic University supports this longstanding marketing strategy, despite the fact many courses are closing nationwide due to sluggish demand. Indeed, while many courses around the country face uncertain economic futures, homes adjacent to them continue to command higher prices from prospective buyers, according to a study of South Florida real estate transactions by faculty at Florida Atlantic University.