MKA Capital Group is Hole in One for Elkhorn Golf Course
Newport Beach, CA, February 02, 2013 --(PR.com)-- MKA Capital Group Advisors sent DEVCO Builder's Asset Management Division to Elkhorn Golf Course to see how the project was being run. Soon thereafter, Jason Sugarman of MKA decided to take over the asset in December of 2009. The reason George Baker, President of DEVCO Builders, sent his team to the Elkhorn Asset was to improve the Golf Course through several different aspects. The first was through online marketing. Computers and up to date software were brought to the Golf Course, resulting in Elkhorn becoming interfaced with Golf Now, which is associated with the Golf Channel. This brought more publicity and clientele. A covered seating area was added to the snack area, the course was cleaned up, and trees were removed to make the course more people-friendly.
Cleaning up the course was no walk in the park. MKA Capital Group Advisors had to fight several lawsuits, both from environmentalists and anti-development groups. They were, however, able to prevail in all litigation matters to protect the land and water entitlements. Upon receiving final approval from the County of Marion for the entitlements of the Elkhorn project, DEVCO Builders was able to build 463 acres of developable residential land.
Once DEVCO Builders consolidated staff and excess supplies, they were able to see a profit by winter of 2010. Since then, Elkhorn has continued to be profitable even though the harsh conditions of 2011-2012 prevented 40% of golf playing time. Overall, both Jason Sugarman and George Baker are happy with the turnaround with the Elkhorn Golf Course asset, with the material improvements and the financial performance as a while.
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