Is Golf a Commercial Real Estate Asset Class?

Golf courses may not seem like a likely CRE asset class, but increasing interest in golf as a post-pandemic pastime as well as a consistently high yielding investment make it an attractive option for Yieldstreet investors. In this episode, Yieldstreet Senior Director of Real Estate Mitch Rosen joins First National Senior Managing Director Jerry Sager for a conversation on how golf courses are financed and viewed through the lens of commercial real estate lending.

Key Takeaways:

[:50] A high level perspective on the $84 billion industry of golf as a CRE asset class.

[4:17] Trends in the golf space that have led to high-yielding increased lending.

[7:09] Lender lessons learned from investing in the golf CRE space.

[10:26] Trends in golf products based on population and other key demographics.

[15:05] Potential risk and yield opportunities within golf CRE investments.

[17:30] Loan details and increased demand for golf in a post-pandemic market.

[18:48] What are the cap rates for trading within the golf CRE marketplace?

[21:54] Yieldstreet’s plan for partnering in the golf lending space.

[23:31] A comparison of current return rates and interest in investing in golf to five years ago.

[25:55] Trends in golf aggregator memberships and the potential impact on investments.

[27:48] Considerations surrounding the environmental impact of golf.

[29:57] Are home buyers as interested in buying golf course properties as they once were?

[32:32] What is the average cost to build a champion level golf course?

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