MKA Capital Group and DEVCO Builders Profit with Elkhorn Golf Course Project
Since improving the Elkhorn Golf Course in 2009, MKA Capital and DEVCO Builders see profit.
NEWPORT BEACH, CA, February 04, 2013
Once DEVCO Builders Asset Management Division (sent by MKA Capital Group Advisors LLC) went to oversee how the Elkhorn Golf Course project was being run, MKA's Jason Sugarman decided to take over the asset in December of 2009. Throughout the next year, George Baker, President of DEVCO Builders, and his team worked on several different aspects of the Elkhorn asset to bring more people to the golf course. It included bringing operations computers and up to date software, covered seating area in the snack section, clearing the area with the removal of some trees, and bringing golf carts and maintenance equipment to maintain the integrity of the golf course.Throughout the next year, MKA Capital was busy fighting lawsuits from environmentalists and anti-development groups. They were able to prevail in all litigation matters to protect the land and water entitlements. Once DEVCO Builders received final approval from the County of Marion for entitlements of the project, they were able to develop 463 acres of residential land, including 150 single family residence lots, 46 cottage or condominium lots, resort amenities, hotel pad and 18 hole golf course.
Due to the consolidation of staff and excessive supplies, DEVCO was able to bring Elkhorn Gold Course a profit by winter of 2010. Even through harsh winter conditions that led to a 40% decrease in golf playing activity through 2011-2012, the course has maintained a profit. Both George Baker and Jason Sugarman are happy with this turnaround and that the asset has been successful with material improvements and financial performance.
MKA Capital Group is a real estate advisor, management and development company headed by Jason Sugarman in Investments and George Baker in Real Estate Development Projects, Construction, Management and Brokerage. Located in Newport Beach, MKA manages funds for institutional investors.
Since 2002, the company has been involved in developments throughout the entire Western United States including California, Hawaii, Colorado, Utah, Oregon, Arizona, Nevada, Texas, Florida and Washington. The company has also been the developer or lead investor in over 100 real estate developments totaling over $3 billion in development value.
Website: www.mkacap.com