Shopoff Invests in Golf Course Near Los Angeles
Shopoff Realty Investments, a manager of opportunistic and value-add real estate investments, has invested in the entity that holds the ground lease for the Links at Victoria Golf Course, a 170+ acre property located in the city of Carson, California and owned by Los Angeles County.
“The Links at Victoria Golf Course acquisition fits in well with our overall portfolio, as we focus on properties in core infill locations with value-add components,” said Shopoff Realty Investments CEO William Shopoff. “We are thrilled to invest in this property, and will continue to seek similar investment opportunities that align with our company acquisition strategy.”
The golf course is near the major employers and residential areas of South L.A. County. The current golf course is managed by Greenway Golf and the cash infusion provided by Shopoff will allow the facility to return to operational soundness.
“Current plans for the golf course include increasing operational income through enhanced golf course facilities and food and beverage operations,” said John Santry, executive vice president of Shopoff Realty Investments Land Division. “Plans also include creating a better overall visitor experience for local golfers, including a completely redesigned driving range, which will also increase the number of rounds played and the top line revenue.”
The opening for the new driving range is scheduled for June 2017 in anticipation of the extended summer playing hours. Additional course enhancements including environmentally friendly turf reductions are planned.
Shopoff Realty Investments is an Irvine, California-based real estate firm that focuses on generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 25-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group).