The Great White Course adjacent to Trump National Doral Miami is up for sale.
Singapore-based GIC Pte hired CBRE to market the 130-acre golf course property, which could command a purchase price of up to $200 million. The sovereign-wealth fund acquired the land as part of its $1.5 billion purchase of many bankrupt resorts owned by a Paulson & Co.-led group. The site has entitlements for residential, office and retail development.
Doral is poised for a 15 percent population surge over the next five years.
“The Doral market currently is the second-largest office market in South Florida,” CBRE vice chairman Robert Given told Bloomberg. “It’s already an international destination for in-migrating families. It has a huge consumer base. At the same time we have hit all the urban boundaries. We can’t build into the Everglades.” [Bloomberg] — Eric Kalis