Golf Services - Success Stories

Potomac Realty Capital, LLC — Hartefeld National Appraisal

"At Potomac Realty Capital, providing exceptional service and quick-turnaround are fundamental to our business. And, our external business partners must share in those core principles. The team at HVS knew our Borrower's business plan as well as we did and conducted extensive due diligence in less than 48 hours. This synergy has resulted in a mutually-beneficial partnership for years to come."

Daniel M. Palmier,
President & CEO,
Potomac Realty Capital, LLC

Project
HVS Golf Services was hired to appraise the Hartefeld National golf course for Potomac Realty Capital. Hartefeld National is located on a 177-acre site in the southwestern portion of metro Philadelphia, Pennsylvania, and was purchased with the intent to reposition the golf course as a full service club by completing a clubhouse expansion and renovation. In addition, the course began selling memberships in the club.

The HVS Assignment
Potomac Realty Capital, Inc. was providing funding for the renovation of the improvements of the Hartefield National golf course by Forewinds Hospitality. HVS Golf Services was called upon to provide a valuation of the properties on several levels, including the "as is", and "as complete" and "as stabilized" values for this property.

HVS Golf Services was chosen to perform this assignment due to its knowledge of the golf course type, its understanding of the merits of the repositioning of the golf course and the ability to meet a quick turnaround for the valuation.

Results
HVS completed the assignment on time, and provided critical expertise in relating to the potentials of the membership component to deliver revenues to the bottom line of the project.

Potomac Realty Capital provided the funding and completed the transaction successfully and on time. Forewinds Hosptiality has rebranded the golf course, reoriented the golfing and dining experiences and repositioned the facility into a destination for the local residents.