Cheval Golf & Country Club

Lutz, Fla.,
Buyer: Cheval Golf Club LLC
Seller: Blackhorse Ventures
Price: $3.75 million

In addition to an 18-hole, 7,145-yard, Steve Smyers-designed course, the deal included a fitness center, pool, tennis courts and restaurant. The cap rate on the $3.75 million dollar sale is believed to be approximately 4 percent based on the performance of comparable clubs in the region. Originally opened in 1985, the club is housed within the same private community as the Tournament Players Club of Tampa Bay. Initiation fees at Cheval are $4,000 with annual dues checking in at approximately $3,100.  Greens fees range from $30 to $61.

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