September 2026
The Long Yield
Three decades of exit cap rates in golf, hospitality, and leveraged real estate.
Get the report
Read The Long Yield.
Name and email open the full report.
The report is ready.
Three decades of exit cap rates in golf, hospitality, and leveraged real estate.
Name and email open the full report.
The report is ready.
Golf course cap rates look 700 basis points wide of core commercial real estate. About half of that gap is how golf income is quoted, not what it yields. This report rebuilds three decades of pricing across golf, hotels, and core real estate, and shows where the mispricing actually sits: in the single-asset middle market that institutional capital has not yet reached.
Thirty years of pricing, assembled in one place.