Concert Golf Partners acquires MacGregor Downs for $3.4M

Concert Golf Partners acquired MacGregor Downs Country Club, a historic private country club in Cary, North Carolina for $3.4 million.

Concert Golf bought the club in a consensual transaction initiated by its 600 members, who were seeking capital for immediate and long-term improvements and stable ownership with professional management. The owners elected to sell rather than assess themselves for millions of dollars for needed capital improvements.

“We had wide national interest in MacGregor Downs Country Club, and we decided overwhelmingly in favor of Concert Golf Partners based on their careful attention to our desires for the Club’s future, their infusion of capital into the Club, and the quality of their other club operations,” said Ron Varol, a MacGregor club member involved in the transaction.

Now that Concert Golf owns MacGregor Downs, the club is debt-free and there will never be assessments imposed on the membership. Concert Golf is launching an ambitious multi-million dollar agenda of capital projects at the Club that were laid out by the membership during the course of a year’s strategic planning efforts and focus groups. Membership opportunities for golf and all other categories are once again available at the Club.

The 47-year-old venue features an 18-hole, Willard Byrd-designed golf course, a clubhouse and usual recreational amenities, all of which need to be modernized.
With MacGregor Downs in the fold, Peter Nanula’s group has acquired seven golf properties over the past three years. It has four facilities in Florida and others in Oklahoma and suburban Washington, DC.

“We have already paid off the Club’s debt, eliminated member assessments, and begun our capital improvement projects,” Peter Nanula of Concert Golf said. “MacGregor Downs Country Club has a deep culture and many unique traditions, and an active membership who will now enjoy a well-capitalized and professionally operated future as one of the finest clubs in North Carolina.”

Concert Golf, a boutique private club owner-operator based in Newport Beach, California formed by Peter Nanula, the founder and CEO of Arnold Palmer Golf Management from 1993 to 2000, has a significant pool of capital to invest in and upgrade large-scale private clubs located in major metro areas, and has recently acquired seven clubs nationally including the Golf Club of Amelia Island, and Gaillardia Country Club in Oklahoma City.

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