Palm Cove G&YC, Evergreen Club sold

Palm Cove Golf & Yacht Club and The Evergreen Club, both in Palm City, Fla., have been sold, according to The Leisure Investment Properties Group of Marcus & Millichap Real Estate Investment Services, who brokered the sale. Purchase price and terms of both sales have not been disclosed. 

Robert Waldron, investment advisor for the Leisure Investment Properties Group, represented both the seller, Palm Cove Holdings, LLC and the buyer, KVC Golf, LLC in the sale of Palm Cove Golf & Yacht Club.

The 18-hole golf course is the centerpiece of the Palm Cove Golf & Yacht Club’s residential community. The golf course was designed by Arnold Palmer Golf Design and opened for play in 1996. Gary Player Design later renovated the course in 2002 with PGA Tour consultant Chi Chi Rodriguez and Richard Robbins. The new owner has invested capital into the golf course and restaurant during the summer and has introduced a new fall membership program.

Waldron also represented both the seller, Evergreen Lakes, LLC and the buyer, CGI Palm City, LLC in the sale of The Evergreen Club.

The Evergreen Club is a private golf club routed through the Evergreen Residential Community. The Club features an 18-hole golf course, driving range, and 19,000-square-foot Clubhouse. The Charlie Martin Design opened for play in 1982. In recent years, the Clubhouse underwent extensive renovations, additional tees were added and the greens were replaced with TifEagle grass. The new owners plan to grow the membership through an aggressive membership drive.

Comments

The 2002 re-design was done by Rick Robbins not Gary Player.

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