Monday, February 18, 2013

Bull Realty Arranges $2.7 Million Sale of Red Tail Mountain Golf Club and Residential Development in Tennessee



Red Tail Mountain Golf Club,
Northeastern Tennessee
 ATLANTA, GA – Bull Realty has brokered the $2.7 million sale of the Red Tail Mountain Golf Club and Community, a foreclosed 617-acre property in unincorporated Johnson County in northeastern Tennessee.

Rob Whitmire, a Bull Realty partner and senior vice president with the firm’s Special Asset Services division, represented the lender/seller, Red Tail Development LLC, in the transaction.

Rob Whitmire
Bull Realty was engaged to market the property for the lender and secured a Canadian buyer. The purchaser, Red Tail Mountain Properties, is an entity controlled by a private equity investor in Canada.

 The property includes an operating 175-acre, 18-hole championship golf course, 120 developed residential lots and approximately 300 acres reserved for future development.

The site also features an 18,000-square-foot, full-service golf clubhouse that includes a pro shop, offices, dining and banquet areas, a fitness center and cart storage.

Michael Bull
Located in the Blue Ridge Mountains near the North Carolina border, Red Tail is a two- to three-hour drive from several sizeable cities, including Asheville, N.C.; Charlotte, N.C.; Knoxville, Tenn.; and Winston Salem, N.C.

 “As both the housing market and commercial real estate sector are seeing improved market conditions, banks and other lenders are in a much better position to offload bad debt and OREO properties,” said Michael Bull, Bull Realty president and host of the “Commercial Real Estate Show” radio program. “Lenders properly marketing properties are seeing improved recoveries for land and commercial properties.”

 For a complete copy of the company’s news release, please  contact

M.C. Rhodes
The Wilbert Group
404-965-5024

No comments: