Golf industry veteran Jeffrey Davis formed Fairway Advisors in 2005. Prior to creating Fairway Advisors, Mr. Davis was the founder of Cushman & Wakefield’s National Golf Group. In his capacity as Director at Cushman & Wakefield, Mr. Davis sold many notable golf courses throughout the United States.
The strongest endorsement we can obtain is when our existing clients retain us for additional golf course brokerage assignments, seeking continued support with their golf courses for sale. In addition to multiple one-off golf course owners, Fairway Advisors is pleased to have represented the clients listed below in the current economic cycle.
Golf Industry Brokerage
Fairway Advisors is a golf course brokerage and advisory firm specializing in the business of golf.
We offer advisory services to lenders, institutional investors, private clubs and bankruptcy trustees.
Member Owned Clubs
Fairway Advisors is an expert in recapitalizations of member-owned clubs.
ALTERNATIVE USE EXPERTS
Fairway Advisors is the leading expert in golf course redevelopment.
How are golf course sales structured?
Golf courses for sale in the United States are typically structured as asset sales. This means the property is being conveyed, not the entity that owns the asset. These golf course and country club asset sales include the golf course, the clubhouse, driving range, restaurant and bar (including liquor license), banquet facilities, maintenance facilities, carts and all the maintenance equipment. There are generally some leases that will need to be transferred to the purchaser. The largest leases to be assumed are golf carts and maintenance equipment. When reviewing financial statements make certain to determine if these leases are expensed or listed as capital leases.
I HAVE A GOLF COURSE FOR SALE. DO I NEED A GOLF COURSE BROKER?
When retaining a broker, you need to consider their track record and their marketing reach. Do they specialize in selling golf properties? Are they mainly a regional broker or can they draw attention outside of the local market? Local brokers know local investors but fail to understand the intricacies of selling golf courses. So, 90% of the time an owner is best served in hiring a golf course broker. The most important factor in selecting a golf course broker is their reputation. When you select a golf course broker you are linking your property to their reputation. The success of your sale is hinged on your golf course broker’s reputation and credibility. Make certain you vet the qualifications of your golf course brokerage by checking references.
Is the sale process the same for member owned country clubs for sale?
No, member owned country clubs for sale are handled differently than other golf assets that transfer ownership. While the board and members in a country club sale are concerned about the economics of a transaction, they and more interested in the continuity of traditions, service levels and maintenance standards. A country club for sale needs an advisor that has experience in the member owned club space. Country clubs for sale are much different that a daily fee golf club. It is imperative you retain a national golf broker that has a track record in country club sales and has the reputation needed to maintain credibility with the market.
How do you value a golf course?
One of the most frequently asked questions is about determining a value for golf courses for sale. Each club is different and there are a variety of factors that determine valuation. One club may use a gross revenue multiplier, and another will utilize a capitalization rate. We are experts in alternative uses, so we can determine if your property is worth more as development land or as a golf course. Call us today to discuss your club’s value.
Why Fairway Advisors?
Fairway Advisors is an expert in golf course sales. We have sold private, semi-private and daily fee public golf courses from New York to California for over 15 years. We are also the premier member owned country club advisor in the United States. We treat every golf course for sale and country club for sale differently. A golf course for sale must have a unique value proposition to differentiate itself from the hundreds of other golf courses for sale in the United States. We craft a bespoke marketing plan that highlights the club’s strengths relative to the marketplace. Our notable sales include three PGA championship venues, a US Open venue and multiple country clubs designed by golden age architects. We are proud of our reputation and track record – we are uniquely qualified to represent you and your golf course or country club.