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  September 5, 2001
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Home > Company Index > Real Estate > REIT - Diversified & Misc. > Golf Trust of America, Inc.

Golf Trust of America, Inc.
AMEX: GTA
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 PROFILE
Golf Trust of America (GTA), an umbrella partnership real estate investment trust (UPREIT), is folding up its umbrella. GTA owns about 30 golf courses in more than a dozen states (primarily Florida and South Carolina). Third-party operators rent and manage its daily fee, resort, and country club courses; GTA helps fund improvements. Several of GTA's tenants have defaulted on their lease payments due to cash flow problems, forcing GTA to find new lessees or sell the courses. A company controlled by former director Larry Young leases 12 golf courses from GTA and owns 29% of GTA's operating partnership (the partnership owns the REIT's golf courses). GTA plans to sell off its assets and dissolve the company.

 COMPETITION
ClubCorp, Inc. (dossier)
National Golf Properties, Inc. (TEE)

 STOCK ANALYSIS
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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 57.80
1-Yr. Sales Growth: 0.9%
Employees: 13
Revenue per employee: $4,446,153.85

 KEY PEOPLE
• W. Bradley Blair
    CEO
• Scott D. Peters
    CFO

 CONTACT INFO
14 N. Adger's Wharf
Charleston, SC 29401
US
Phone: 843-723-4653
Fax: 843-723-0479
Online: Web Site

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