Concert Golf acquires Legacy Golf Resort

Concert Golf Partners acquired Legacy Golf Resort — a Gary Panks-design located in Phoenix, Ariz. —from Wyndham Vacation Resorts. The transaction closed in late 2014 but was just announced this week. Terms of the acquisition remain undisclosed.

Over $1 million in immediate capital projects are planned including upgraded banquet and kitchen facilities, bunker renovations, new maintenance equipment, expanded casual dining and clubhouse upgrades.

Concert Golf Partners CEO Peter Nanula says the resort course is debt-free, with a new multi-million dollar capital improvement reserve, due to Concert Golf’s all-cash approach to acquisitions.

“This partnership with Wyndham is a perfect fit for what we do at Concert Golf,” Nanula said in a news release. “We were able to recapitalize a top-notch golf club entirely with equity, fund vital new capital projects, and do all of this with the high level of quality that a Wyndham requires — to ensure the success of its adjacent resort.” 

Legacy Golf Resort, located on what was once a 7,500-acre ranch, is part of a 238-unit timeshare complex with a master planned community of 497 residencies.

“Turning a club over to the members can often result in financial challenges that reflect poorly on the developer,” Nanula said. “Alternatively, many companies in the business of golf club acquisition are mere cost-cutters with poor track records for quality — a recipe for deteriorating home prices within the community. We at Concert are long-term owner-operators, so our interests dovetail with those of the membership — to invest in and grow the club.” 

The facility, which includes an 18-hole, par-71 championship course, also has a swimming pool, tennis courts and a 10,000-square-foot indoor Golf Performance Center, which recently finalized a partnership with The Golf Channel Academy. 

The property’s history is physically visible in many ways including the three original grain silos, built in 1902, which still stand along the 18th fairway. The Sierra Vista House, located near the first tee, boasts visits in the early 1900s from Theodore Roosevelt and Pancho Villa.

Concert Golf Partners, based in Newport Beach, Calif., is a boutique golf club owner and operator formed by Nanula, who served as CEO of Arnold Palmer Golf Management from 1993 to 2000. Members of Concert Golf clubs have reciprocal golf privileges at all other Concert Golf-owned clubs.

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