Avoiding Golf’s Real Hazards… Philadelphia, PA Jupiter, FL www.golfprop.com Consulting & Advisory Market Analysis Feasibility Analysis Operational Reviews Market Positioning Analysis Mortgage Financing Development Consulting Project Consulting Exit Strategies Market Research Private Club Board Advisory Services Municipal Course Reviews Conservation Easement Membership Market Analysis Short and Long Range Strategic Planning Real Estate Highest and Best Use Analysis Appraisal Mortgage Financing Asset Allocation Real Estate Tax Assessment Eminent Domain Conservation Easements Equitable Distribution of Assets Partnership Considerations Purchase & Sale Considerations Litigation Support Estate Planning Litigation Support Expert Testimony Market Value Appraisals Real Estate Tax Assessment Eminent Domain Partnership Disputes/Marital Property Allocation Attorney Preparation Client Advocacy Dispute Resolution Transaction Seller Broker Representation Buyer Broker Representation Acquisition and Disposition Consulting Due Diligence Mortgage Financing Markets we’ve served Laurence A. Hirsh, CRE, MAI, SGA, FRICS – President Larry Hirsh is a widely published author and frequent lecturer at industry events. He has performed appraisal and consulting assignments on more than 2,500 courses in 45 US states and Canada, brokered nearly $100 million in golf course properties in several states and been the lead developer in a golf course development project. Hirsh was a founding member and first president of the Society of Golf Appraisers (SGA) and is an often published author and frequent lecturer on a variety of golf course industry related topics. He has authored articles for The Appraisal Journal, Real Estate Issues and The Journal of Tax Assessment & Administration as well as a variety of golf industry publications, such as Golf Course Industry, Links Magazine, Golf Business, By Design, Club Director and many others. He has lectured to seminars for the GCSAA, NGCOA, PGA of America Education, Harvard University, University of Florida and various regional golf groups, tax assessment groups and legal seminars. Mr. Hirsh is an avid low‐handicap golfer and member of the Golfweek “America’s Best” course ranking panel and a member of The National Golf Foundation, Urban Land Institute, National Golf Course Owners Association and Golf Course Superintendents Association of America. Hirsh is a certified general appraiser in 13 states and a licensed real estate broker in 6 states. Married, with three children, Hirsh is a graduate of Penn State University and holds professional memberships in the Counselors of Real Estate, Appraisal Institute, Society of Golf Appraisers and Royal Institute of Chartered Surveyors. He participates in several volunteer and charitable activities, and is a commercial pilot and flight instructor Strategic Alliances In addition to our regular staff, GPA has also maintained close relationships with specialized professionals in agronomy, club management, food & beverage management, golf specific legal counsel and course construction, enabling us to be a sole source for all golf property problem solving applications. We are affiliated with the top industry firms and have worked many for extended periods. Why Golf Property Analysts? Each of our highly trained and qualified professional staff bring a unique and focused perspective to the golf industry. From real estate appraisal and brokerage to golf development and financing to golf management, agronomy and membership development, we’ve been there and use our experience to our clients’ benefit. From more than 2,500 assignments over 30+ years in 45 states, Canada, Scotland and the Caribbean, we’ve “seen it all” and have the data and experience to assist our clients in making sound decisions. The name Golf Property Analysts represents the finest in consulting, appraisal and brokerage services to the golf industry for more than 30 years. We pride ourselves on timely and professional work tailor made to solve the client’s problems. We don’t use a “cookie cutter approach” to all problems. We are truly independent. We are not and never have been a part of a larger firm with multiple disciplines and interests. Golf and club properties are our primary business and we provide objective and sound advice to clubs, investors, owners, lenders, lawyers and fiduciaries alike. We know the players. After nearly a quarter century, we know where to go and who to ask to solve our clients’ problems. Our team brings a variety of backgrounds to solve the wide variety of problems that occur in the golf business. President Larry Hirsh is an industry leader, author and frequent lecturer with unparalleled credibility and experience. Hirsh was instrumental is establishing the Society of Golf Appraisers (SGA) and was its first president. He has pioneered a variety of valuation and analysis techniques now considered standard in the industry and shared them through his many articles in a wide variety of professional journals and industry publications. Publications We publish the monthly newsletter "Chip Shots", an electronic newsletter to about 12,000 recipients and have a BLOG and GPA president Larry Hirsh writes frequently for many publications and regularly speaks to industry seminars, conferences and groups. Representative Assignments Abacoa Golf Club FL Boulder Pointe Golf Club & Banquet Center MI Abbey Golf Links RI Brae Burn Country Club NY Airport GC & Mentel Memorial GC OH Brandt Distributors Property PA Allegheny Country Club PA Brandywine Country Club OH Alpharetta Country Club GA Briarwood Golf Club LA Alsatian Golf Club TX Brick Landing Golf & Country Club NC Amelia Island Resort FL Bristol Harbor Golf Course & Marina NY Anthem Golf & Country Club AZ Bristow Manor Golf Club VA Applewood Golf Course CO Brookfield Country Club GA Arlington Club KY Brookside Country Club PA Army Navy Country Club VA Bucks County Country Club PA Arrowhead Golf Club CO Bulle Rock Golf Club MD Arrowhead Golf Club PA Bulls Bay Golf Club SC Attitash Resort NH Bulls Bridge Golf Club CT Augustine Golf Club VA Bullseye Country Club XX Back Creek Golf Course DE Bunker Hill Golf Course NJ Baiting Hollow Club NY Burnt Pine Golf Club FL Baker Hill Golf Club NH Butter Valley Golf Port PA Balcones Country Club TX Cambelback Ski Area & Cambelback Water Ballen Isles Country Club FL Park PA Ballentrae Country Club FL Camillus Country Club NY Bandon Dunes Golf Resort OR Camino Del Mar Country Club FL Bartram Trail Golf Club GA Canyon Club NY Battleground Country Club NJ Cape Neddick Country Club ME Bayonne Golf Club NJ Carolina National Golf Club NC Bayou Barriere Golf Club LA Carroll Valley Resort PA Bayside Resort Golf Club DE Carter Plantation Golf Course LA Beachview Golf Club & Bay Beach Golf Club FL Cascades of Texas TX Beacon Hill Golf Club VA Casperkill Country Club NY Bear Brook Golf Club NJ Castlewoods Golf Club MS Beaver Brook Golf Course NJ Caves Valley Golf Club MD Bedford Springs Golf Course PA Cedar Crest Square PA Beechwwods Golf Course PA Century Country Club NY Bella Vista Golf Club PA Chandler Park Golf Course MI Bensalem Country Club PA Charles T. Myers Golf Course NC Bent Creek Country Club PA Charlotte Country Club NC Bent Tree Golf Club OH Chartwell Country Club MD Bergen Hills Country Club NJ Cherokee Valley Golf Club SC Berkleigh Country Club PA Cherry Creek Golf Club PA Bethany Dunes Golf Course DE Cherry Creek Golf Club NY Bildarth on the Guadeloupe Golf Club TX Cherry Valley Country Club NJ Birdsfoot Golf Course PA Chesapeake Hills Golf Course MD Birkdale Country Club VA Chisel Creek Golf Course PA Bishop's Bay Country Club WI Cimarrone Golf Club FL Bison Run Golf Course NY Cleghorn Plantation Golf & Country Club NC Bittersweet Golf Club IL Cliff Park Inn Lodge and Golf Course PA Black Bear Golf Club WI Club At Pelican Bay FL Black Hawk Golf Course IL Cobblestone Creek Country Club NY Black Oak Golf Club, LLC NJ Colbert Hills Golf Club KS Blackhawk Golf Club TX Coldwater Springs Golf Course AZ Blackhawk Golf Course PA Colleton River Plantation Club SC Blackledge Country Club CT Collins Hill Golf Club GA Blackthorne Country Club & Blackthorne Collins Park Golf Course OH Estates, Inc. PA Colonial Country Club TN Blackwolf Run Golf Club WI Colts Neck Golf Club NJ Bloomingdale Golfer's Club FL Columbia Country Club MO Blue Bell Country Club PA Cool Creek Golf Club PA Blue Heron Pines Golf Club NJ Cool Springs Golf Course WV Blue Mountain Golf Club PA Copper Mill Golf Club LA Blue Mt. View Golf Course PA Cotton Ranch Golf Club CO Blue Ridge Shadows Golf Club VA Country Club of Castle Pines CO Blue Rock Country Club CA Country Club of Hershey & South Course PA Bolder Hill Golf & Country Club RI Country Club of Maryland MD Bon Air Golf Course PA Country Club of Meadowlakes TX Bonaventure Golf Club FL Country Club of Meadville PA Bonita Bay East and Bonita Bay West FL Country Club of York PA Bosque Canyon Ranch TX Crescent Golf Course NC Boston Golf Club MA Crescent Pointe Golf Club SC Boston Mills Ski Resort OH Cross Creek Golf Club MD Boulder Creek Golf Club OH Cross Pines Ranch TX Representative Assignments Crossgates Golf Course PA Geneva National Golf Club WI Crotched Mountain Ski Resort NH Germantown Country Club TN Crystal Lake Golf Course MN Gettysvue Country Club TN Cumberland Cove Golf Course XX Glen Arven Country Club GA Cypress Creek Country Club FL Glendale Golf Course IL Cypress Point Country Club Glenlakes Golf Club AL Honey Bee Golf Club VA Glenwoodie