Winchester Country Club - …listings.leisurepropertiesgroup.com/doc_vault/Winchester... · 35,000 Square Foot, Three Story Clubhouse 18-Hole Championship Golf Course ... The first

Winchester Country Club An 1,170 Acre Master Planned Community in Meadow Vista – Sacramento MSA, CA

THIS MARKET BID OFFERING INCLUDES:

- 18-Hole Championship, Award-Winning Golf Course -- 35,000-Sq. Ft. Clubhouse -

- 35 Developed Lots -- 164 Acres Future Development Land-

EXECUTIVE SUMMARY

#2

Leisure Investment Properties Group

#3


THE COURSE


“Right Above the Fog but below the Winter Snows”As a homeowner and member of the exclusive Winchester community, you have the option to create your own masterpiece on a custom home site or select one of thestunning semi-custom home opportunities. Either way, live where you play and play where you live – enjoy the Winchester Way of Life.

Residents can become members at Winchester’s championship Robert Trent Jones Jr. and Sr. co-designed golf course, and eat like kings at the clubs many impressivedining options. In addition to club and golf course amenities, residents can explore miles of hiking, running and cycling trails all within the Winchester community.Providing views and adventures around every turn, Winchester’s landscape and topography create endless opportunities and experiences.

Nestled in foothills amidst a wooded and mountainous landscape, Winchester offers countless recreational, shopping and cultural opportunities as well as easy accessto I-80. A quick 10-minute drive down the road leads to the neighboring town of Auburn, offering Saturday local farmer’s markets, antique shops, farm-to-forkrestaurants, breweries and nearby family-owned wineries. Cast your sites on the historic towns of Colfax, Grass Valley, Nevada City and Coloma or even fly-fish on theTruckee River.

Situated in a gorgeous central location, Winchester is readily accessible to the popular destinations in Sacramento, the San Francisco Bay Area, Lake Tahoe and more.The area offers something for everyone – shopping at the Westfield Galleria Mall and the Fountains in Roseville, boating on Rollins Lake, fishing at the Halsey ForebayReservoir, river rafting down the North Fork of the American River to world-class skiing at Lake Tahoe, every environment is within easy reach.

COMMUNITY OVERVIEW

OFFERING SUMMARY

SUMMARY OF TERMS


Projected Lot Proceeds: $10,204,005

Current Average Asking Price $291,543/lot Current Average Lot Acreage 1.6 Ac/lot Lot Prices Range from $182,500 - $862,500 Schedule of Available Lots – See Page 42

5 Lots Sold/UC during 1H 2017 Average Sale Price $259,900/lot Average Acreage Sold 1.54/lot

4 New Construction Sales during 1H 2017 Average Sale Price $1,204,051 Average Home Size 3,067 sq. ft. Average $393/sq. ft.

Average Lot Price as % of Home Price 21.5% Implied Builder Margin (Cost + Profit) 78.5%

Assets Included in Offering:INVESTMENT OPPORTUNITY

35 DEVELOPED LOTS 164 ACRES LAND GOLF & CLUBHOUSE PROPERTY

Projected Lot Proceeds: $25,437,127

164 Total Acres Original Design Concept for 72 Estate Homes Average Estate Lot Size 2.3 Ac/lot Original Engineer Drawings – See Page 51

Formal Pricing Structure Yet to be Established Implied Lot Price per Acre from 35 Developed

Lots: $415,044 Implied Lot Price using Midpoint of Price/Acre

& Price/Lot of Current Developed Lots: $353,293

Possible to Replat and Rezone for IncreasedDensity, Smaller Lot Sizes, More Lot Sales

Projected Disposition Value after CommunityMaturation and Buildout: $23,670,944

290 Current Members 176 Golf Members | 114 Social Members Dues $7,380/Year | Initiation Fee: $15,000 NR

Troon Management in Place starting 2016;Largest Professional Manager of Club Operationsin the World

Private Country Club 35,000 Square Foot, Three Story Clubhouse 18-Hole Championship Golf Course Golf Digest Named #13 in State of California Golf Digest Named #3 in Northern California Twice Named One of “America’s Best Residential

Golf Courses” by Golfweek

PROPERTY PARCEL


Winchester Site Map | Community Overview

Closed / Unavailable Lots

(35)

(72)

DEVELOPMENT LAND

The Fox ClubPalm City, Florida

PRO FORMA BUSINESS PLAN


FINISHED LOTS

Lot #Revised Base

PricingStatus Acres Address

187 $212,500 Available 1.4 1351 Shady Tree Lane247 $237,500 Available 1.2 1515 Ridgemore Dr.250 $232,500 Available 1.0 1545 Ridgemore Dr.254 $247,500 Available 1.5 15125 Woodvale Lane259 $182,500 Available 1.5 15215 Woodmont Lane266 $182,500 Available 1.2 15230 Woodmont Lane275 $587,500 Available 6.0 15040 Grand Knoll Dr.279 $277,500 Available 1.4 15005 Grand Knoll Dr.280 $362,500 Available 1.7 15015 Grand Knoll Dr.281 $337,500 Available 1.5 15025 Grand Knoll Dr.283 $402,500 Available 1.3 15045 Grand Knoll Dr.284 $282,500 Available 1.4 15055 Grand Knoll Dr.285 $277,500 Available 1.5 15065 Grand Knoll Dr.288 $277,500 Available 1.8 1520 Ridgemore Dr.289 $270,000 Available 1.3 1510 Ridgemore Drive291 $862,500 Available 3.1 16570 Winchester Club Dr.294 $257,500 Available 1.1 1602 The Point295 $257,500 Available 1.0 1622 The Point296 $262,500 Available 1.0 1632 The Point297 $257,500 Available 1.2 1642 The Point298 $262,500 Available 1.6 1652 The Point299 $272,500 Available 1.3 1662 The Point300 $277,500 Available 1.0 1672 The Point301 $237,500 Available 1.0 1682 The Point303 $277,500 Available 3.0 1702 The Point304 $232,500 Available 1.5 1712 The Point313 $271,500 Available 3.3 1823 The Point323 $237,500 Available 1.2 1711 The Point328 $247,500 Available 1.1 6020 Holly Oak Lane331 $292,500 Available 1.2 6050 Holly Oak Lane332 $287,500 Available 1.0 6045 Holly Oak Lane333 $267,500 Available 1.3 6035 Holly Oak Lane336 $287,500 Available 1.0 1621 The Point337 $227,500 Available 1.2 16664 Winchester Club Dr.338 $257,500 Available 1.1 16668 Winchester Club Dr.

Average $291,543 1.6Total $10,204,000 54.9

35 Available Finished Lots & Pricing

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PROPERTY DESCRIPTION


Winchester Country Club One of only seven courses in the world co-designed by Robert Trent Jones Jr. and Sr., WinchesterCountry Club is a rare acquisition opportunity of father and son workmanship that offers bothchallenge and beauty. This 7,200-yard championship golf course has been named twice as one ofAmerica’s Best Residential Golf Courses by Golfweek. The recently renovated, three-story, 35,000square-foot clubhouse sits atop a hill offering panoramic views of the picturesque mountains andforests. The first two levels include a mixed grille, pro shop, gentlemen and ladies locker rooms withsaunas, a formal lobby and dining room, private dining room and full-service kitchen. The third levelfeatures a 3,200 square-foot fitness center and Pilates studio.

The Club is located in beautiful Meadow Vista, California nestled in the Sierra Nevada foothillsoverlooking the Sacramento Valley. The surrounding community covers 1,170 acres and is made up of189 existing homes ranging in value from $750,000 - $3,500,000, with an opportunity for 193 additionalhomes. In 2016, 14 homes sold for an average price of $1.13M, or $300/sq. ft. That would equate to acomparable clubhouse valuation of $10.5M. As of May 2017, 27 homes are currently underconstruction. With Winchester already capturing 212 members from the community, The Club isexpected to service nearly 600 members once the community is fully built out, with projected cash flowof nearly $2M from over $7M in gross revenues. Just minutes from I-80 approximately 40 miles outsidethe booming MSA of Sacramento, “California’s Newest Real Estate Hot-Spot” claims home to approx.2 & ½ million residents. This gorgeous central location is readily accessible to the popular destinationsin Sacramento, the San Francisco Bay Area, Lake Tahoe and Napa Valley.

CLICK HERE TO VIEW 18-HOLE VIDEO TOUR OF THE PROPERTY

GOLF OVERVIEW

INVESTMENT HIGHLIGHTS

• 18-Holes of Championship Golf – Robert TrentJones, Sr. and Jr.’s Final Co-Design

• Significant Upside for New Ownership withAggressive Development/Lot Sale Strategy

• Twice Named one of “America’s BestResidential Golf Courses” by Golfweek

• Established Membership of 290 With Family Membership Dues of $615/Month

• Stabilized Disposition Value of Golf Asset after Community Buildout Projected at between $22 - $26 Million

Current Gross Revenue $2,460,453Rounds / Members 16,162 / 290Avg Rev Per Member $8,484.32

Finished Lot Buildout - Stabalized Projections Year TwoProjected Gross Revenue $5,639,112Projected NOI/EBITDA $774,898Members 430Avg Rev Per Member $13,114.21

Future Development Buildout - Exit Projections Year FiveProjected Gross Revenue $7,119,672Projected NOI/EBITDA $1,775,321Members 585Avg Rev Per Member $12,170.38

Implied Disposition Value $23,670,944

ROUNDS & MEMBERSHIP

Outdoor Kitchen with Two Gas Grills

Two Lighted Tennis Courts

State of the Art Fitness Center

Ceiling Fans


Membership BreakdownPRICING & FINANCIAL ANALYSIS

Current Dues Structure (As of July 2017)

Member Type # Monthly Rate Annual Rate Scheduled RevenueLegacy Golf 23 $615 $7,380 $169,740Family Golf 73 $615 $7,380 $538,740

Individual Golf 16 $487 $5,844 $93,504Associate Golf 52 $364 $4,368 $227,136

Corporate Golf 12 $333 $3,996 $47,952Social Members 114 $138 $1,656 $188,784

Total 290 -- -- $1,265,856

LIPG Country Club

WINCHESTER

LUXURY HOMES

COMMUNITY OVERVIEW


*Current Listing $2,500,000

PROPERTY PARCEL


Sample Home DesignsCOMMUNITY OVERVIEW

THE COURSE


Interstate 80 2 MilesRoseville, CA 25 MilesSacramento, CA 42 MilesLake Tahoe, CA 76 MilesReno, NV 95 MilesNapa, CA 100 MilesSan Francisco, CA 128 Miles

Distance from Winchester

COMMUNITY OVERVIEW

THE COURSE


As part of the Northern California Megaregion,the Sacramento region provides access to the Bay Area’s innovation ecosystem and world-class talent – all at a cost that allows for sustainable growth.Sacramento is a prime location and compelling choice for your business. Its geography, qualified workforce, lower cost of living, access to government and education,quality of life, amenities and culture are all key ingredients that make Sacramento the place to be. Sacramento is not only California's state capital; it is a growingmetropolitan region with the seventh largest world economy. It is the largest city in a six county region, serving a population close to 500,000 in the city and nearly 2.5million people in the region. Continued public and private investment is evident in many of the City's commercial corridors and opportunity sites.

ACCESSJust as it was in the gold rush days, Sacramento is a transportation hub, served by an air cargo airport, an international airport, a deep-water shipping port, two majorInterstate freeways, freight and passenger rail lines, and an extensive regional commuter bus and light-rail system.

CENTRAL LOCATIONCloser to Lake Tahoe than any other California metropolitan area, exceptional proximity to the legendary Napa Valley wine country, and in close distance to nationalparks and seashores.

CULTURE AND RICH HISTORYSacramento itself is a cultural and recreational destination, with an orchestra, professional opera and ballet companies, numerous performing arts venues, a livelymuseum community including the oldest art museum west of the Mississippi River, professional sports, and endless opportunities for sporting and recreation activities.Sacramento's high contentment quotient will sit very well with your employees - and with you.

CENTER OF GOVERNMENT AND EDUCATIONSacramento is widely regarded as the center of decision-making because of the Capitol and the many agencies that reside downtown. In addition, regional highereducation institutions - Sacramento State University and the world-renowned UC Davis - offer opportunities for internships, technology transfer, and contributesubstantially to the quality of the region's labor pool. Additionally, The Sacramento region also has five community colleges, several private institutions of highereducation, and more than 160 vocational and training programs.

SACRAMENTO OVERVIEW

THE SECRET STARTUP CITY THAT ISN’T SILICON VALLEY

LIPG Country Club

GOLF

ADVISORS

Steven M. EkovichSenior Vice PresidentNational Managing DirectorLeisure Investment Properties Group4030 W. Boy Scout Blvd, Ste 850Tampa, FL 33607Tel: [email protected]. FL: BK2006962

OFFERING MEMORANDUM


Terence Vanek – Lead AdvisorSenior Investment AdvisorPartnerLeisure Investment Properties Group4030 W. Boy Scout Blvd, Ste 850Tampa, FL 33607Tel: [email protected]. FL: SL3237145

Christopher KaramitsosSenior Investment AdvisorCo-FounderLeisure Investment Properties Group4030 W. Boy Scout Blvd, Ste 850Tampa, FL 33607Tel: [email protected]. FL: SL3103884

Kent WilliamsBroker of Record4660 La Jolla Village Dr, Ste 900San Diego, CA 92122Lic.: 00823860

Winchester Country Club3030 Legends Dr.| Meadow Vista, CA 95722

Documents

Winchester Country Club - …listings.leisurepropertiesgroup.com/doc_vault/Winchester... · 35,000 Square Foot, Three Story Clubhouse 18-Hole Championship Golf Course ... The first