The sale of Quarry Hills Golf Course in Graham, N.C., to the Gulick family and their Tri-G Group company has been completed.
A bankruptcy court judge approved the purchase in September and the Gulicks completed the transaction in October, rescuing the course from the bankruptcy filed by previous owners William and Virginia Mann in March of this year.
The Manns and other investors had been the targets of a lawsuit by neighbors who objected to the Manns’ decision to amend land covenants and sell off portions of the course property, including the first green, for a condo development that never materialized.
Tri-G Group has agreed to abide by the original restrictions, which require that the property be preserved as an 18-hole course. The owners currently are restoring the first green and generally upgrading the Ellis Maples and Ed Seay-designed golf course that opened in 1970.