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SOURCE Northco Golf & Hospitality
MINNEAPOLIS, Aug. 12, 2014 /PRNewswire/ -- Frank Jermusek, President of Northco Golf & Hospitality, has clients actively pursuing acquisition of Midwest golf courses and resorts. Frank Jermusek says that, "Times have changed; 5 years ago we had a difficult time finding buyers, now we are having a difficult time finding enough quality product."
Frank Jermusek says 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 few years 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, email@example.com
Northco – 5353 Wayzata Boulevard, Suite 400, Minneapolis, MN 55416
Contacts: Frank Jermusek
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