Residential Real Estate News

Discovery Land Company to Close $600 Million in Sales This Year

Residential News » Residential Real Estate Edition | By Scott Kauffman | October 20, 2010 8:15 AM ET

(SCOTTSDALE, AZ) -- In the midst of a historically sluggish real estate market, Discovery Land Company has sold nearly $600 million in real estate in the last 12 months across its six actively selling private club communities in North America.

Discovery Land, regarded as one of the leading developers of private golf and country club communities, is actively marketing Gozzer Ranch Golf & Lake Club in Coeur d'Alene, Idaho, Kukio Golf & Beach Club on the Big Island of Hawaii, the Madison Club in LaQuinta, Calif., Baker's Bay Golf & Ocean in the Abaco Islands, Bahamas, El Dorado Golf & Beach Club in Los Cabos, Mexico and the Yellowstone Club in Big Sky, Montana.

"We have done very well this year," said Michael Meldman, Chairman/CEO of Discovery Land Company. "Even though the broader real estate market continues to struggle with oversupply, our properties are some of the most unique in the world. Our buyers continue to recognize the quality and value our properties represent as well as the exceptional lifestyle opportunities they provide for their families. In the end, that's what makes us successful. We offer a quality of life you simply cannot find anywhere else, at any price."

To Meldman's point, Discovery's properties offer unique, family-oriented membership programs that allow a member's entire family (including parents, grandparents, adult children and grandchildren) to enjoy all that the clubs have to offer in terms of services, amenities and activities as a member.

Meldman says this approach makes it much easier for Discovery members to incorporate the rich experiences and lifestyle options of Discovery clubs into their own family traditions and celebrations.

In addition, Discovery tailors the amenities and recreational activities and lifestyle components of its clubs to bring out the innate beauty and culture of its setting.

"We look very carefully at why people choose certain locations and why they buy - whether it's Hawaii, Mexico, Montana or what have you," Meldman added. "They seek out these locations for a reason. They want an experience they can't get elsewhere. The buyer today is making an investment in his or her family and quality of life. We make that possible for them and deliver it with exceptionally high-quality and great personal service."

Finally, the development of each Discovery property is based upon a strong financial foundation, with stable, proven financial partners. As a result the communities have very low debt. According to Meldman, this allows Discovery to invest in broadening and enhancing the overall member experience rather than large marketing budgets and interest payments. Discovery believes strong, enthusiastic endorsement from members and their guests is the best possible form of marketing for their communities.

Each of Discovery's properties is located in a proven destination that is easily accessible and renowned for its natural beauty. This approach has enabled Discovery to record nearly $6 billion in total real estate sales over the past ten years, with an average sales price of $1.1 million.

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