Highlands Cove goes private after sale

Highlands Cove Golf Club in Highlands, N.C., has been sold to Old Edwards Hospitality Group for a reported $5.2 million.

The seller was Highlands Cove Golf Club LLC.

The new ownership group,which also owns the nearby Old Edwards Inn & Spa, plans will turn the public facility into a private course and rename it Old Edwards Club.

New ownership reportedly plans to invest up to $3 million to renovate the golf course. The course closed in November and is not slated to be re-opened until May 2009.

It is expected that multi-million dollar homes will be developed on land surrounding the course, which was originally designed by golf course architect Tom Jackson in 2000.

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