Frank Jermusek is owner and President of Northco Real Estate Services. Here is a slide show reporting on the sale of the Abaco Club, a 534-acre golf club and residential community in Great Abaco, The Bahamas. While the terms of sale were not disclosed, it was an all-cash deal that should inject some momentum into the local economy.

1. SOLD
by Frank Jermusek
534-acre Abaco Club in The Bahamas

2. The 534-acre Abaco Club in Great Abaco has been sold.

3. The community in Great Abaco, The Bahamas was
purchased in an all cash deal earlier in January by
Southworth Development. According to the developer,
the purchase was a true partnership, with half the cash
coming from Southworth and from a group of
residents, including some professional golfers.

4. In a press release, a spokesperson for the group of
homeowners involved in the purchase agreed, “We
have found the perfect partner in Southworth. Their
track record of investing in and developing world-
class communities offers us a real sense of security
that The Abaco Club on Wind Bay will become the
pinnacle of barefoot luxury in The Bahamas."

5. The amount of the sale has not been disclosed.

6. Previously owned by a Marriot affiliate, the Abaco
Club is the second property managed by Ritz-
Carlton to be bought by Southworth. !
!
Southworth has been involved with other major
courses recently, including the PGA Golf Course and
adjacent community on Cat Island in the Bahamas.

7. The Abaco Club boasts a course an 18-hole, par-72
course designed by Donald Steel and Tom Mackenzie
that spans two miles of beach and approximately four
miles of course. While the course is unique in that its
erratic topography differs from most courses in the
Bahamas, Southworth has budgeted $50 million in
improvements over the next three years.

8. Such improvements would likely be to cater more
towards the professional golfers who reside there with
amenities like a professional-grade practice facility. The
practice facility would also, of course, be available to
amateur or recreational golfers belonging to the club.

9. The purchase is expected to bring an economic
boost to the area. According to Prime Minister
Perry Christies, “Renewed interest and long-
term investment in the property will benefit
Great Abaco and The Bahamas in the form of
increased home building, tourism and jobs.”

10. Please visit FrankJermusek.com for more info.