DUNNELLON, 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 Spruce Creek Preserve Golf Club (top left photo), an 18-hole golf course located in Dunnellon, Florida, according to Steven Ekovich, Director of the National Golf & Resort Properties Group based in the firm’s Tampa office.
The asset commanded a sales price of $1,325,000.
Matthew Putnam (middle right photo) , Investment Associate and lead agent on the asset sale and his team of Steven Ekovich (lower left photo) and Christopher Karamitsos (lower right photo) , had the exclusive listing to market the property on behalf of the seller, a developer based out of Maitland, Florida. They also secured the buyer of the property, a private investor, from Windermere, Florida.
“The sale was really a win-win for both the buyer and the seller” says Putnam. “The buyer purchased a golf course that fit into his geographic golf portfolio. They will benefit from the economies of scale created by the other courses in the area he owns. The seller was able to divest of an asset that was no longer vital to their core business and received a very fair price in today’s market” adds Putnam.
The Preserve Golf Club is a Terry Dos designed, championship 18-hole golf course situated on 179 acres. It is the centerpiece to Del Webb's surrounding Spruce Creek development, an age-restricted, active-adult retirement community located on 416 acres and surrounded by Ross Prairie State Forest.
The Preserve is well-maintained and highlighted by its signature waterfall hole. Built in 1997, the club also offers casual dining from its 5,400-square foot clubhouse at the Sandwedge Cafe.
Press Contact:
Steven Ekovich
Vice President and Director
National Golf & Resort Group
(813) 387-4700
why is this golf course,not being maintained as in previous years? GOVidin
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