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Fairway Advisors to Sell Northern New Jersey Golf Course
July 13, 2006. Fairway Advisors has been retained as the exclusive advisor in the sale of Bear Brook Golf Club in Fredon, N.J. Bear Brook Golf Club is a championship, semi-private club designed by Roger Rulewich. Fairway Advisors has been named today for the marketing and negotiation of the sale transaction.
Jeff Davis, President of Fairway Advisors, comments, "Bear Brook was acquired as the central amenity to a housing development. The owner is seeking a sale of golf course to coincide with the completion of the build-out of the homes.”
Kitson & Partners, a real estate development company based in Florham Park, N.J., bought the development and golf course in 2000. “Ownership has invested over $3 million dollars in improvements to Bear Brook Golf Club. The biggest improvement to the property was the construction of an 11,000-square-foot clubhouse which will open late this month. The new clubhouse will allow Bear Brook to increase its daily-fee play, tournaments, outings, banquets and semi-private membership. A new owner will have a turn-key facility at a fraction of replacement cost,” says Davis.
Davis says he has received a large amount of interest from investors. A sale is expected by the end of the year and a bid deadline of September 15, 2006 has been established. Information about this opportunity can be obtained by visiting Fairway Advisors’ website www.fairwayadvisors.com.
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