VIZZDA—FireRock Golf and Country Club in Fountain Hills and the Arizona Golf Resort in Mesa were sold last week for a combined price of $11.8m. Both of these assets pricing in the seven figure range is atypical for golf assets, which typically transact in the low six -figure range. Though the circumstances of the transactions were quite different, high valuations for recreational assets such as golf courses and resorts bode well for the Phoenix-area real estate market.
The first of these properties to change hands was FireRock, a 7,001 yard, par-72 course designed by Gary Pank in 1999 and boasting a 2-story 29,058 ft2 clubhouse.
