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Greg Christovich is a licensed Real Estate Principal Commercial Broker in Florida, South Carolina, North Carolina and Kentucky, and has affiliate Broker cooperative relationships with a number of other national golf course brokerage firms across the country

As your broker Christovich and Associates will implement the following strategies:

  • Quickly assimilate the facility and competitive market, identify any revenue/cost structure opportunities and issues, highest and best use opportunities
  • Compile relevant market research (macro economic, golf industry related) and comparative golf course sales data, become a market ‘insider’
  • Establish a realistic sale price range (and logic) for the target asset and the prospective buyer pool (s)
  • Establish a credible working relationship with the course management team (through their regional management structure), often the best source of local knowledge and prospective buyers
  • Establish cooperative listing relationships with local commercial Brokers and investment firms, regional and national golf Brokers
  • Construct and sort the buyer prospect list
  • Commence a personal ‘grass roots’ sales effort to each prospect
  • Update progress on a weekly basis, obtain offers and/or identify and communicate objections

Our Background

  • 15 years of management/acquisition/disposition experience in multiple regions/markets
  • Actively participated in over 100 dispositions since 2001 for multiple lenders and investment firms
  • Extensive experience working with national and regional golf course brokers
  • Proven track record for identifying prospective buyers, establishing relationships to maximize buyer interest, executing necessary tasks to expedite closing
  • Managed 30 lender-owned properties from 2009 to present, prepared asset evaluations on 16 properties (including two multi-course portfolios) from 2010 to 2012, facilitated successful dispositions on  multiple assets since 2009
  • Extensive knowledge and experience in the lender asset disposition model and process
  • Management and consulting experience has made for a natural progression into a Brokerage role

Differentiation

Our principals have more combined experience in golf operations and lender workouts/dispositions than any company in the industry, and we have a proven track record of successful golf asset dispositions.

What separates us from others in the industry:

  • Ability to very quickly translate facility characteristics and operating position/results into a ‘sales story’ to the buyer community
  • Strategic, targeted,  very hands on and local approach to quickly identifying key market characteristics and the most viable buyer prospects
  • Establishing unique relationships with buyers to build trust and credibility in the process, identifying and addressing purchase/sale/due diligence obstacles
  • Meticulous attention to detail and the highest sense of urgency in terms of follow-up
  • Reputation industry-wide (clients, management companies, Brokers) in terms of professionalism, expertise, cooperation and teamwork
  • Senior management involvement throughout the sale process

Current Buyer Environment

Four viable and active buyer pools

Small to mid-size competitors / operators with a local / regional presence

  • Economies of scale driven, ego, somewhat savvy, downward sale price pressure
  Seasoned individual golf professionals and superintendents seeking owner-operator opportunities
  • Usually require financing seeking deals under millon
   Homeowners Associations
  • Becoming more of a trend as the residential real estate market recovers, complex and can be a  lengthy process but transactions are often at premium prices

High net worth individual (s) with an emotional interest in golf course ownership

  • Ego driven, long-term investment-based, less price driven but often fickle

Emerging equity investment groups led by former golf executives

  • Growth-driven aspirations led by managing principals

Institutional entities -- colleges, hospitals, municipalities, park districts

  • Very selective and vision / budget-based

The selling environment remains extremely up and down and very dependent on case by case asset and market characteristics
 

In-Market Specifics

Marketing Approach

  • Heavy in-market presence, personal contact with all prospects (including past and existing)
  • Local commercial brokers who know the investment community
  • Co-broker relationships
  • Local and regional advertising, signage
  • Property previews and calls for offers

Experience

Recent sales include:

  • The Links at Greenfield Plantation, Bradenton, FL August 2012 $1,000,000
  • Indigo Lakes Golf Club, Daytona Beach, FL May 2013 $1,200,000
  • Sapphire National Golf Club, Highlands, NC June 2013 $825,000
  • Sea Trail Resort, Sunset Beach, NC July 2013 $8,500,000
  • Crescent Pointe Golf Club, Bluffton, NC August 2013 $1,750,000
  • Eagles Pointe Golf Club, Bluffton, NC August 2013 $1,750,000
  • Champions Club at Julington Creek, Jacksonville, Florida May 2015 $1,500,000
  • Windsor Parke Golf Club, Jacksonville, Florida May 2015 $1,750,000
  • Glen Flora Country Club, Waukegan, Illinois November 2015 $1,625,000
  • Glenoaks Country Club, Louisville, Kentucky, July 2016, $1,550,000
  • Highlands Ridge Golf Club, Sebring, Florida, September 2016,$1,600,000
  • Polo Fields Golf and Country Club, Louisville, Kentucky, November 2016, $532,500
  • Cherokee Valley Golf Club, Greenville, SC, April 2017, $900,000