Daily Fee Golf Club

October, 16 2017 Posted by clubhousecap-admin Posted by 0 comments

Plymouth County, MA

This profitable daily fee golf course was facing a loan maturity in a capital-constrained environment. Clubhouse negotiated a loan modification with the NYC investment bank that held the mortgage, achieving (i) an extension of the loan term, and (ii) a reduction in the monthly payment by lengthening the loan amortization and adding a seasonal payment mechanism. With the additional time, Clubhouse then negotiated the sale of the property, carving out the owner’s home overlooking the 18^th fairway. Clubhouse had funded the owner’s original acquisition in 1996 with a $5.5 million mortgage loan that bought out his 4 partners. (Summer 2011)