Outsider Golf Club
Naple's newest members-only golf club.
Step inside our world
Welcome to Outsider
A golf club alternative for those who don’t run with the herd.
It’s our pleasure to invite you to become a part of the Founding Membership at Outsider, a premier 18-hole golf club set on over 200 acres of sandy soil in Naples, Florida.
Outsider isn’t just a club. It’s the way to do you. A cultivated place to hang out – with top tier golf, breathtaking views, world class amenities and luxury accommodations paired with relaxed rules, dress codes and impeccable service. It's yours to share with a discerning, like-minded membership.
We invite those who share our vision to join as Founding Members of a category-defining golf experience.
Membership Information
We are offering a select group of 25 Founding Members the opportunity to join this project at this early stage. Founding Memberships will cost $1M each and will be 100% secured by the land asset through final plan approvals. In return, Founding Members will enjoy preferred benefits that compliment their lifetime membership at Outsiders. Full financing details will be shared in this Dealpage.
Member Slots
$1M Founding Member Investment
Investment is 100%+ Secured by Land
Full Return of Capital in 5 years
Waived Fees & Dues
Lifetime Membership
Membership Highlights
The Best Golf Course Architects Of Our Era
Dana Fry and Jason Straka have experience working under the great Tom Fazio and under their own firm, designing courses like Erin Hills, Arcadia Bluffs, and other Top 100 global courses.
An Exclusive, Limited Membership
Think of Outsider as a party; and not just anyone is invited. We’re limiting Founding Member slots to 25 and total members in the club at anytime to 275. Those inside enjoy incredible benefits.
Ultimate Discretion and Lifestyle
We see the club as a private retreat, every member’s castle where you are free to do you. In this spirit, our club policies create the conditions for relaxation: no tee times, bare-foot golfing, elite caddy program, night golf, locker room attendants, concierge, car cleaning and more.
For Old Friends and New
While membership is capped, the club boasts luxury villas for members to use and invite their friends and family to stay and join in everything the club has to offer.
Your Fellow Founding Members
Outsider Golf Club has received membership applications and commitments from a number of prominent members of both the Naples and National golf communiuties.
Jane Elizabeth Doe
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Jane Elizabeth Doe
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Jane Elizabeth Doe
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Jane Elizabeth Doe
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Jane Elizabeth Doe
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Jane Elizabeth Doe
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Jane Elizabeth Doe
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Jane Elizabeth Doe
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Jane Elizabeth Doe
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Calling all Outsiders
Rebels, individualists and bandits; Outsider Golf Club is for you.
Table of Contents
CLUB OVERVIEW
OPPORTUNITY
PLAN & FINANCIALS
PROJECT TEAM
CLUB OVERVIEW
Outsider Club Detail
Named in honor of its enigmatic membership, this private golf club provides an elite lifestyle, offering the perfect place to rest, work and play on your own terms. Expertly crafted amenities, luxury lounges, stylish accommodations and a redefined rule-set create a new standard for private member club experiences.
A Select & Limited Membership
Top Quality Course Design
Relaxed Rules & Dress Code
Luxurious Amenities and Service
A Like-Minded Community
No Tee Times
Elevated Amenities
Ultimate luxury and service while you play by your own rules.
Modern Clubhouse
World Class Dining
Private Lounges
Pool & Spa
Farm-to-Table Garden
Premier Health Club
Discover a new breed of club
Filled with character and conversation.
Elite Caddy Program
Comfort Stations
Unlimited Refreshments
Lighted Night Golf
Premier Practice Range
Short Game & Putting Complex
Luxury Villas
Founding members will have priority booking privileges of the club’s luxury villas. Members are free to invite their friends and family to stay with them.
Luxury Villas
Founding members will have priority booking privileges of the club’s luxury villas Members are free to invite their friends and family to stay with them.
OPPORTUNITY
An Exclusive Opportunity
Outsider truly is a once in a lifetime opportunity to get involved in a course designed with exceptional craftsmanship and unparalleled attention to detail, providing world class playing surfaces and amenities. Funds are expected to be drawn down in 50% increments during the course construction process, beginning in Q4 this year
Additional Benefits
Outsider GC caters for everybody and will quickly become your home away from home. Beyond the financial incentive, Founding members will enjoy an array of benefits, including:
Early access privileges
Preview play for you and your guests
Exclusive naming rights for holes, halfway houses and rest stations
Preferred reservations
Annual Founding Member event
Limited-Run Founding Member gifts
Yes, we are a select bunch, but you certainly won’t find any elitist customs or stuffiness here. We’ve designed Outsider as an oasis. Our aim is to make each Member and his guests feel special and provide exceptional experiences both on and off the course from the moment one passes through the gate.
We’ve thought long and hard about the harmony between course design, natural beauty and luxury facilities.
Within Naples, there’s only one course featured in Golf Digest's Top 100, not to mention, long waitlists and memberships at capacity. We see The Outsider as one of the most exciting opportunities we’ve had the pleasure of developing.
As a Founding Member, your capital will only be called and deployed once we have received commitments to construct and operationalize the club. We also hope to demonstrate in this Dealpage that the true value of the land is $25m, securing your investment 100% through the at-risk construction period.
Hope to see you on the green,
Ryan
PLAN & FINANCIALS
Project Financial Plan
The Outsider development is split into two distinct phases and two separate financing rounds, totaling $80m. Below is a description of each round and what it means for you as a Founding Member:
$25m USD - Current Round
Founding Member funds will be used to acquire the land and cover initial expenses and site work during the rezoning process. Here, the 25 backers will own pro rata equity interests in the land during the plan approval process to protect their investment.
$55m USD - Next Round
A larger round of funding, raised within 30 days of zoning approval, will finance construction of the course and club. At the time this funding round is completed, Founding Member interests will convert to debt.
13% - YoY Real Interest
Founding Members are paid back their principal over 5 years. Their waived initiation fees ($500k) and dues ($30k/yr for 5 years) will serve as an effective interest rate on their investment ($650k + return of principal investment).
Project Financial Plan
100% Coverage on Investment The land value is expected to be > $25M post-acquisition based on area comps (see Land Value slide). As this is greater than the purchase price, the full 100% of Founding Member investment can be recouped in the event of a forced sale.
13% Effective Interest Rate Founding Member investments will convert from equity to a non-interest bearing note after Phase II financing closes. Founding Members are expected to receive 100% of capital back within 5 years. Founding Member’s initiation fees of $500k and their dues at $30k/year for 5 years will be waived 100%. If return of principal takes more than 5 years, Founding Members will receive 5% annualized on their outstanding principal until the full amount of their principal is returned.
Project Timeline
Q2-Q3 2023
Q4 2023
Q1 2024-Q4 2024
Q3 2025
Q4 2025
Q4 2025-Q3 2026
Q3 2026
Sources & Uses
Source
Total
$80M
Uses
Founding Members
$80M
Phase I – Land Acquisition
$18M
$9M
Phase II – Club Construction
Stump & debris removal
Golf features
Rough shaping
Drainage
Site prep
Irrigation
Grassing
Construction of cottages
Infrastructure
Fine Shaping
Maintenance facility
Greens
Early operations
Bunkers
Tees
Full clubhouse and Spa Construction of Par 3 Course
Construction of additional Cottages
Helicopter landing pad
Financial Projections & Key Metrics
Assumption
250 Members
25 founding members
$500,000 initiation fee/member
$30,000/year membership fee
$18,000,000 for land acquisition
$62,000,000 for construction cost
$7,500,000/year in maintenance & operation cost
$132,500,000
$80,288,000
Location & Proximity
Land Value Comp
The 227 acre plot comprises three parcels of land, which our team managed to assemble and place under contract before it reached market. Local area golf courses have tried and failed to do so for 20+ years.
Our comp analysis on golf course home developments in the market puts the true value on this assemblage at $25M. If the project had to sell for any reason, Founding Members recoup their capital.
1. Base Scenario
This valuation is based on nearby Seagate Development, 4mi from the project property, which closed at $15.3M for 50 lots, or $306,000 per lot. The property is currently zoned & entitled for 72 home sites without a rezone. At $306,000 per lot, the project property would be worth $21,600,000 if sold to a home developer in its current condition with no rezone.
2. Strategic Sale
Neighboring Hideout Golf Course could have potential interest as a strategic value add real estate purchase once our assemblage is fully approved. If they acquired the property, they'd sell lots for $1M each as a part of their golf club community - or $72M all in. We expect their proposed offer price to be at least 40% or $30M.
Inherent Risks & Mitigation Plans
Inherent Risks
Our Mitigation Plan
The Outsider is unable to raise enough capital to complete the course.
Construction will not begin until sufficient capital is committed by Founding Members and Phase II investors and lenders. Until that point, Founding Member investment is 100% secured by the land value and can be recouped with a sale of the asset if construction financing is
not successful.
Costs to construct and/or operate the course exceed budget.
To gain clarity and confidence on our costs, Outsider hired a nationally recognized course developer & operator to complete a detailed cost analysis. Our team provided instructions to remain conservative and include a sizable contingency. This consultant has been entrusted by major championship venues and PGA Tour stops such as Quail Hollow and PGA National.
General membership is not at a sufficient level to cover operating costs.
Due to the funds raised from the Founding Members, The Outsider will operate with zero debt from day 1 so any and all memberships that are sold will provide enough revenue to operate the club, even if not at full capacity. If needed, non member revenue can be increased via multiple channels, including guest play, outings, and tournaments.
Additional unknown risks.
Please see the disclaimer at the beginning of the presentation. All risks cannot be known in advance, but extensive due diligence by third-party experts has been conducted to minimize development risks.
PROJECT TEAM
Founding Team
"Our ambition is simple - to build a golf course that will be considered among the most architecturally significant creations of the early 21st Century. We feel that it is time to push boundaries and we recognize that the market is ready for something special. A hundred years from now, it will be widely expected that players, enthusiasts, and students of design must visit The Outsider. Our hope is that they will come to these grounds, and they will celebrate what the Founding Team accomplished here."
Ryan Chiodo
Highly accomplished real estate professional with over 20 years in the Naples market.
Recognized as one of the Top10 Producing Advisors GCI (Gross Commission Income) by Engel & Völkers North America.
Recipient of the Platinum-Level Award By The Naples Board of Realtors and a member of the Engel & Völkers Private Office, a select group of brokers and advisors (less than 100 worldwide).
Ryan is responsible for land sourcing & acquisition and overseeing Member Villa design and construction at The Outsider.
