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| Northco Golf & Hospitality Golf Course & Resort Activity Heats Up | |  Frank
Jermusek says that, “Northco has seen a similar increase in activity on
resorts as well.” Last fall Frank Jermusek’s team sold Izaty’s Golf and
Yacht Club located on Mille Lacs Lake in MN, and Elbow Lake Lodge located
in Cook, MN. Frank Jermusek’s team is currently working on a number of
golf and resort listings, including the historic Gunflint Lodge located
on the Gunflint Trail and Superior Shores Resort and Conference Center,
located on the North Shores of Lake Superior.
Frank Jermusek commented that, “Sale / acquisition activity has definitely picked up. The combination of available debt/equity sources coupled with reasonable pricing has been driving activity. The barrier to entry for a golf course or resort acquisition is just not what it used to be. We have a number of deals where individuals or groups have been able to acquire golf courses and resorts on very reasonable terms with excellent debt/equity options.” A year or two ago buyers for golf and resort properties had to show up with 100% cash in order to close a deal. Frank Jermusek says that has changed, “We recently closed a deal with 50% bank financing + 35% SBA financing + 15% cash down payment, those debt/equity terms coupled with reasonable acquisition pricing opens the buyer pool up immensely.” We work with a number of lending and equity sources that like this product again, which Frank Jermusek says, “drives activity.” Frank Jermusek is President/Owner of Northco Real Estate Services, LLC and Northco Golf & Hospitality, LLC. Frank Jermusek is also the founding partner of the Jermusek & Davies law firm. For more information about Frank Jermusek, Northco Golf & Hospitality, Northco Real Estate Services, and Jermusek & Davies law firm. Please visit – www.northco.com / www.northco.com/ngh / www.jerdav.com / www.frankjermusek.net – or call/email Frank Jermusek at 952-820-1615, fjermusek@northco.com. Northco – 5353 Wayzata Boulevard, Suite 400, Minneapolis, MN 55416 Contact:
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