This text provides readers with extensive information on the economic characteristics of golf courses and the many factors to be considered in their valuation. Private, daily fee, and municipal courses are examined in depth, as are golf facilities in residential real estate developments and resorts.
Prepared for use by appraisers, developers, market analysts, and lenders, the text explores a variety of data sources, provides insight into golf course design and management, and discusses the many factors involved in creating and operating these complex, service-oriented businesses.
A survey of lenders is also included to highlight the problems that must be addressed to obtain financing for new golf projects.
About the Authors
Arthur E. Gimmy, MAI, is the president of Arthur Gimmy International, located in Corte Madera and Newport Beach, Calif. Mr. Gimmy has taught many appraisal courses, served on numerous local and national committees, and published nearly 50 articles on a wide variety of appraisal topics. He also has written several books, including Golf Courses and Country Clubs: A Guide to Appraisal, Market Analysis, Development, and Financing and The Business of Show Business: The Valuation of Movie Theaters. In 1996 he was awarded the George L. Schmutz Memorial Award by the Appraisal Institute for his contributions to the advancement of appraisal knowledge. He can be reached at: 45 Koch Road, Suite C . Corte Madera, CA 94925 or phone: (415) 945-1650 or by Fax: (415) 945-1656 or by email: firstname.lastname@example.org Web site: www.arthurgimmy.com
Martin E. Benson, MAI, is a real estate appraiser and consultant with experience in most types of commercial real estate, including special purpose properties. He is a founding member of the Society of Golf Appraisers and has published on a variety of topics, including real estate and business enterprise value. He is a contributing writer to the book A Business Enterprise Value Anthology and co-wrote the bookGolf Courses and Country Clubs: A Guide to Appraisal, Market Analysis, Development, and Financing. He can be reached at (415) 927-7442 or by email: email@example.com