Real Estate

Pinewild Country Club sold for nearly $20M

By Staff Report, posted 1 year ago
Photos provided by LIPG
Pinewild Country Club

Steven Ekovich, Executive Managing Director, just announced the sale of Pinewild Country Club of Pinehurst. Christopher Karamitsos, Senior Managing Director, was the lead advisor for the transaction.

The property was sold for $19,750,000 (combined golf course and the land). The Leisure Investment Properties Group, a renowned industry leader in golf course and marina sales nationwide, served as the Golf Advisors for the purchase. The group has sold over 200 golf courses, marinas and other leisure - lifestyle investment properties in the past few years. 

Located just one mile from the quaint and historic Village of Pinehurst, this gated golf course community offers residents a gracious and private lifestyle. Pinewild features two 18-hole championship courses, the Gene Hamm designed Magnolia Course and the Gary Player designed Holly Course, along with the Azalea, a 9-hole par 3 course. 

In addition to golf, the club boasts a world-class practice facility and golf academy, a 25-meter Olympic swimming pool & children’s wading pool, 4 Har-Tru tennis courts and a centrally located clubhouse which houses the pro shop, locker rooms, dining rooms, snack bar and a spectacular patio overlooking the Magnolia course.

Included in the sale was an additional 500 +/-  acres of land for residential development. Based on current density, new ownership has the potential to develop 1000+ future residential sites. As is, there are over 900 homes existing within the community with home values ranging between $325,000 - $1,750,000.

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

100 years young: The Prince Charles Hotel sees new life with incoming businesses and ongoing renovations

Fayetteville City Councilwoman Brenda McNair, building Owner Rory Dowling, the real estate team over leasing and community manager for the Residences at the Prince Charles Sherry Wcislak cut the ribbon for the community. Photo by GFBJNew life can be


Finding solutions: SOFtact Solutions carries a passion for problem-solving in support of today's warfighters and other government entities

Since starting her company in 2017, MA has grown her company to include over 80 employees and contractors, handling work in Communication, Computers,Cyber, Intelligence, Surveillance and Reconnaissance Center (C5ISR) suite.SOFtact Solutions (STS) CEO


Food for a cause: 18th Annual Bread 'N Bowls event highlights upcoming programs and developments for area nonprofit

Current Executive Director of Inasmuch Pastor Craig Morrison (left) continues to work with Founder and previous Executive Director Sue Byrd (right) who continues to volunteer with the organization. Photo by GFBJ.For the last 18 years, Fayetteville Ar