In 2009, Jason Sugarman of MKA Capital Group Advisors LLC decided to take over Elkhorn Golf Course after sending DEVCO Builder’s Asset Management Division to see how the project was being run. During that time, George Baker, President of DEVCO Builders, sent his team to work on several different aspects of the Elkhorn Asset. First, they brought the Elkhorn Golf Course operations computers and up to date software. Now the Golf Course is marketed through the internet as well as through local papers. They added a covered seating area to the snack area and cleaned up the course to make it more player-friendly. To provide the players with a more enjoyable experience, new golf carts and maintenance equipment was brought in as well.
These new accommodations didn’t come easy. MKA Capital Group Advisors had to fight lawsuits from environmentalists, anti-development groups, and solved litigation matters to protect the land and water entitlements. Once DEVCO Builders received final approval from the County of Marion for the entitlements of the Elkhorn project, they were able to develop 463 acres of residential land, including 150 single family residence lots, 46 cottage/condominium lots, Resort amenities, a Hotel pad and 18 hole golf course.
Throughout the next year, DEVCO Builder Management worked on consolidating staff and excess supplies and by winter of 2010 they were able to see a profit. Since then, Elkhorn has remained profitable even through adverse weather conditions. Jason Sugarman and George Baker are happy with the vast turnaround of the Elkhorn Golf Course asset; with the material improvements and the financial performance as a whole.
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. 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.