BLACK FOREST & WILDERNESS VALLEY GOLF COURSES

Transcription

1 BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI Frank Jermusek, JD President / Managing Director frank.jermusek@svn.com Cameron Peterson Senior Advisor cameron.peterson@svn.com Edward Rupp Advisor edward.rupp@svn.com SVN NORTHCO REAL ESTATE SERVICES 5353 WAYZATA BLVD., SUITE 400, MINNEAPOLIS, MN OFFERING MEMORANDUM

2 Disclaimer The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 2

3 1 PROPERTY INFORMATION 6500 Nicklaus Drive Gaylord, MI BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 3

4 Property Summary AUCTION SUMMARY Starting Bid: Subject To Offer Tour Dates: Sept 27 & Sept 29 Online Bidding Dates: Oct 1 - Oct 8 Additional Info: See Terms & Conditions Auction Site PROPERTY OVERVIEW Rare opportunity to own two 18-hole golf courses in prime vacation area of Michigan! Black Forest and Wilderness Valley are located on approx 317 acres of land and includes all equipment, clubhouse, two 18-hole golf courses, and golf course business. This property will go on auction [See Terms and Conditions]. Please see the drone video for current condition but at one time, Black Forest was the highest rated course in the "Golf Mecca" area of Gaylord, MI. Black Forest golf course was designed by nationally acclaimed architect, Tom Doak, and is one of the most challenging USGA slope ratings in the state from the championship tees. The course opened to national acclaim as a Top 4 New Public Course in the U.S. Designed by Michigan Hall of Fame member, Al Watrous, Wilderness Valley is a beautiful, resort-style 18-hole golf course that attracts a variety of players. Wilderness Valley offers amenities for both golfers and guests with a 4,500 square foot clubhouse that hosts a pro shop, restaurant/banquet facility, bar and office. Also available, but not included in the auction prices, is untapped development potential with 217 acres available to be sold as building sites. Lot Size: 317 Acres PROPERTY HIGHLIGHTS Year Built: 1971 Building Size: 4,500 SF CO Listed With: Doug Wright of SVN InvesTek Realty Online Reserve Auction - 2 Courses (36 Holes) - Black Forest (Destination) & Wilderness Valley (Local) Golf Courses are located on 317 Acres of premium land Black Forest is an 18-hole Tom Doak designed course opened to national acclaim as a Top 5 new Course in US Wilderness Valley is an 18-hole resort style golf course which is the perfect compliment to Black Forest's Destination course Banquet hall facility with seating for 100 guests, 4,500 square foot clubhouse that hosts a pro shop, restaurant/banquet facility, bar and office BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 4

5 Property Description PROPERTY OVERVIEW Designed by nationally acclaimed architect Tom Doak, Black Forest is a beautiful, challenging 18-hole golf course in the vacation destination of Gaylord, MI. With one of the most challenging USGA slope ratings in the state of Michigan from the championship tees, Black Forest will test any skill level. Sculpted out of Northern Michigan forests, this course opened as a Top 4 New Public Course in the U.S. and was the highest rated course in the area. At almost 400 acres, Black Forest has many acres available to be carved off and sold as building sites, adding to its income potential. Designed by Michigan Hall of Fame member Al Watrous, Wilderness Valley is a beautiful, resort-style 18-hole golf course in the vacation destination of Gaylord, MI. With a modest USGA slope rating of 126, Wilderness Valley is the more playable of the two courses and attracts a wide variety of players. Wilderness Valley offers amenities for both golfers and guests with a 4,500 square foot clubhouse that hosts a pro shop, restaurant/banquet facility, bar and office. The clubhouse also offers the opportunity to attract winter business as Gaylord is a hub of winter outdoor activity. This rare opportunity to purchase both courses as one property will go on auction (see Terms and Conditions). Although currently in distressed condition, both courses offer tremendous potential for the right buyer. LOCATION OVERVIEW Located in the Northern Lower Peninsula of Michigan, Gaylord is a premier Midwest destination. Only 200 miles from Detroit and 350 miles from Chicago, visitors come from all directions to experience its beauty and tranquility. Hospitality has a huge impact on the area, with 20 lodging facilities and 15 golf courses in the immediate area. BUILDING SUMMARY CLUBHOUSE FACILITY: 4,500 sf, pro shop, Osprey Grille, office STORAGE FACILITY: 3,500 sf, holds up to 125 electric carts MAINTENANCE FACILITY: 3-door cinder block & 3-bay cinder block BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 5

6 Complete Highlights SALE HIGHLIGHTS Two courses (36 holes) - Black Forest (destination) & Wilderness Valley (local) Black Forest is an 18-hole, par 73 course that plays 7,044 yards from the championship tees with a 147 slope rating Black Forest opened to national acclaim as a Top 4 New Public Course in U.S. by Golf Magazine Black Forest was the highest rated course in the area by Golfweek magazine Black Forest was designed by nationally acclaimed architect Tom Doak Wilderness Valley is an 18-hole, par 71 that plays 6,367 yards from the championship tees with a 126 slope rating Banquet hall facility with seating for 100 guests Located in the "Golf Mecca" of Gaylord, MI Additional revenue opportunities in sale of buildable lots and winter business BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 6

7 Additional Photos BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 7

8 Additional Photos BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 8

9 3 LOCATION INFORMATION 6500 Nicklaus Drive Gaylord, MI BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 9

10 Regional Map Black Forest & Wilderness Valley Golf Courses BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 10

11 Location Maps Black Forest & Wilderness Valley Golf Courses Black Forest & Wilderness Valley Golf Courses BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 11

12 City Information CITY HIGHLIGHTS Population of 3,690 (2016) Golf Mecca of the Midwest Outstanding parks system Located between Lake Michigan and Lake Huron 28 miles from Hartwick Pines State Park Located on the North Central State Trail- 62 miles from Gaylord to Mackinaw City for year-round non-motorized use and snowmobiling in the winter GAYLORD, MI Gaylord is located in the center of the Northern Lower Peninsula on the 45th parallel, referred to as the halfway point between the Equator and North Pole. Due to its location between Lake Michigan and Lake Huron, residents of Gaylord experience the best of both worlds with mild summers and abundant snowfall in the winters. This makes the area idea for resorts with one of the highest concentrations in the entire Midwest. Referred to as "America's Summer Golf Mecca," Gaylord has a lot of options for players of all skill levels. With numerous golf courses and options for lodging that include hotels and resorts, Gaylord acts as a regional playground year round. Gaylord is also known as Michigan's Alpine Village with its Alpine-themed shopping district offering visitors a quaint, clean setting with a multitude of shopping experiences, entertainment and a vast array of events and activities. Winter months offer a plethora of activity including snowmobiling, downhill skiing, snowshoeing and numerous cross-country ski trails. With over 180 inches of annual snowfall and a heavily wooded, rolling terrain, beginners and experts alike enjoy countless winter adventures. BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 12

13 3 DEMOGRAPHICS 6500 Nicklaus Drive Gaylord, MI BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 13

14 Demographics Map POPULATION 50 MILES 100 MILES 200 MILES Total population 282,281 1,036,574 9,169,608 Median age Median age (male) Median age (Female) HOUSEHOLDS & INCOME 50 MILES 100 MILES 200 MILES Total households 117, ,158 3,542,505 # of persons per HH Average HH income $56,050 $54,013 $65,916 Average house value $184,376 $163,179 $199,062 * Demographic data derived from 2010 US Census BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 14

15 4 ADVISOR BIOS 6500 Nicklaus Drive Gaylord, MI BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 15

16 FRANK JERMUSEK, JD President / Managing Director PROFESSIONAL BACKGROUND Frank is a Principal at SVN Northco headquartered in Minneapolis, Minnesota. SVN has become one of the most recognized commercial real estate brands in the world with over 225 offices globally. Frank has served as President and Managing Director of SVN Northco since acquiring the company in In this role he is in charge of company operations including leading a sophisticated team of professional advisors specializing in brokerage services, investment, finance, management, consulting and golf & resort. SVN Northco is a full service commercial real estate firm that has been a leader in the Twin Cities market since SVN Northco has numerous affiliated entities most including SVN Northco Real Estate Services and SVN Northco Golf & Hospitality. SVN Northco Golf & Hospitality specializes in a wide range of services related to the golf & resort industry and Frank serves as head of the SVN national product council for golf courses and resort properties. Frank is also the founder of The Jermusek Law Firm, LLC, a Minnesota based law firm focusing on providing sophisticated, creative and practical solutions for clients dealing with real estate, business, lending and golf/hospitality matters. During his career, Frank has worked on thousands of real estate, corporate and golf & resort transactions ranging from small local real estate transactions to a $150+ million corporate transaction, all totaling well over $2 billion in transaction volume Wayzata Blvd. Suite 400 Minneapolis, MN T C frank.jermusek@svn.com Experience 2006 Present: President, Northco Real Estate Services, Northco Golf & Resort, Northco Investments, and all affiliated companies 2006 Present: The Jermusek Law Firm, LLC : Attorney, Leonard Street and Deinard : General Manager/Controller, Baker Investments Education William Mitchell College of Law Juris Doctor University of St. Thomas Bachelor of Arts Business Minnesota School of Business Accounting Professional Recognitions / Affiliations Licensed Real Estate Broker MN, WI, SD, ND, IA Licensed Attorney - Minnesota Minnesota and Hennepin County Bar Associations National Golf Course Owners Association (NGCOA) United States Golf Association (USGA) Recent Achievements 2015 Partner s Circle Top 4 Advisor in SVN SVN s 2015 Firm of the Year SVN Northco Top 8 Firm in SVN BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 16

17 CAMERON PETERSON PROFESSIONAL BACKGROUND Senior Advisor Cameron is a Principal and Senior Advisor at SVN Northco. SVN is a full service brokerage, management and consulting company and has become one of the most recognized commercial real estate brands in the world with over 225 offices globally. Cameron has dual degrees in marketing and financing from Bethel University, and is currently pursing the CCIM designation, which is a recognized expert in the commercial and investment real estate industry. In addition to the formal training he has 12 years of experience in real estate, hospitality, business development, and consulting management. Cameron has served a wide array of clients ranging from banks, to private investors, and institutional investment firms. Having a breadth of experience in all disciplines and practice types (office, medical, retail, industrial, golf & hospitality), Cameron spends the bulk of his time assisting clients with asset disposition/acquisition, leasing, ownership restructuring, overall management, financial analysis, strategic planning, lender workouts, and exit/land development strategies. With his depth and quantity of experience on a team that has billions in transaction experience; Cameron is able to bring creativity and experience with his well-established team and company Wayzata Blvd. Suite 400 Minneapolis, MN T C cameron.peterson@svn.com Experience Principal / Senior Advisor, SVN Northco Present Annuity Sales, Renaissance Annuity Group 2006 Support Specialist, Bethel Information Technologies Maintenance Operations, Rose Lake Golf Course Education Bachelor s Degrees in Finance and Marketing, Bethel University, St. Paul, MN Certified Commercial Investment Member (CCIM) Recent Achievements SVN Firm of the Year SVN Top 100 Advisors SVN Elite Managing Director Professional Affiliations SVN Golf & Resort Group Licensed Minnesota & Wisconsin Real Estate Agent National Golf Course Owners Association (NGCOA) United States Golf Association (USGA) Minnesota Commercial Association of Realtors (MNCAR) BLACK FOREST & WILDERNESS VALLEY GOLF COURSES 6500 NICKLAUS DRIVE GAYLORD, MI SVN Northco Real Estate Services Page 17

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