OB Sports adds Monarch Beach; Billy Casper Golf takes over 23 Northeast course; ValleyCrest adds New York course to portfolio

OB Sports Golf Management is taking over the exclusive Monarch Beach Golf Links in Dana Point, California, which is part of the St. Regis Monarch Beach Resort. The Robert Trent Jones Jr. designed layout, on the edge of the Pacific Ocean, was recently recognized as one of Golf Magazine’s Premier Golf Resorts for 2012. 

Washington Holdings, a private real estate investment firm, acquired Monarch Beach Golf Links and The St. Regis Monarch Beach Resort in 2010. It is investing into the properties now that the market is recovering.

ClubCorp acquires Hartefeld National; Western Golf adds three properties; Desert Mountain opens $1.6m practice facility

ClubCorp’s buying mode continued this past week with the acquisition of Hartefeld National Golf Club in Avondale, Pennsylvania. It’s the fifth acquisition in less than a year for the largest owner in the U.S. Most of those additions have been in the Northeast, where the Dallas-based company previously had no prescence.

Hartefeld is a private country club that features one of the Northeast’s most honored golf courses, a Tom Fazio-designed championship course that has served as the site of both a PGA TOUR and Senior PGA Tour event.

ClubCorp buys Canterwood in Washington state

ClubCorp acquired its fourth course this summer with the purchase of Canterwood Golf & Country Club in Gig Harbor, Washington.
 
Canterwood, a private equity-owned club, was struggling with membership, having dropped from 500 to 225 members. Members were told in the Spring that the acquisition price would be $4 million, the News-Tribune in Tacoma, Washington reported. The final sales price, however, was undisclosed.
 

Peter Nanula plans to buy up to 10 golf courses

Peter Nanula, who ran Arnold Palmer Golf from 1993 to 2000, is back in golf with plans to buy $50 million worth of golf course assets. Nanula’s new company, Concert Golf Partners, recently acquired Heathrow Country Club in Lake Mary, Fla. for $3.5 million.
Nanula said he has two other courses under letter of intent — one in Florida and one in Arizona.
 

Green Valley sells for $2.2 million

Green Valley Country Club in Greenville, SC sold last week for $2.2 million, according to Hilda Allen, who brokered the deal. It was a hybrid sealed bid offering.
 
The Kaplan family, which owns a local business, acquired the course from Bank of Travelers Rest. The bank had previously foreclosed on the course, which had $2.3 million in debt.
 
“It was a lot more than the bank expected,” Allen said. “There were four bids and they were all capable of closing.”
 

Best attorneys in the golf industry

It was the largest equity conversion of a private club in history — six courses and clubhouses for $73.5 million. And despite the fact that there had been lawsuits in prior years, mistrust and a ton of money at stake, all parties to the Desert Mountain conversion were happy with the end result when it closed this past December.

That was a testament, in part, to the attorneys who worked on the case.

Scottsdale Golf Group acquires first course outside of Arizona

Scottsdale Golf Group purchased River Crossing Country Club in San Antonio, Texas in May, its first acquisition outside of Arizona. The purchase price was not disclosed.

“We thought this was a wonderful opportunity to acquire River Crossing Country Club,” said Shelby Futch, founder and CEO of Scottsdale Golf. “We previously managed the club during its opening phase from 2000 to 2005.”

River Crossing was developed by Charlie Patterson as part of the River Crossing development. Patterson has since sold all 1,000 home lots, with 600 having been built on.

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