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The New England Country Club
THE NEW ENGLAND COUNTRY CLUB
BELLINGHAM, MA


 
Description

Investment Date: October 1994

Investment Cost: $3.2 Million

Improvement Cost: $0.7 Million

Sale Price: $9.2 Million

Sale Date: November 2000

IRR: 32.5%
The New England Country Club is located approximately 45 miles from Boston. It is a championship level golf course with a residential subdivision plan for 200 house lots.

Strategy

An interest in the property was bought from the FDIC and the remaining portion was acquired through a bankruptcy process. Golf operations were maximized through improvements to the course and professional management. Following consistent increases in cash flow, the property was sold.

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Charter Capital Management, Inc.