Peter Nanula’s investment group is poised to acquire its 13th golf property. Concert Golf Partners has agreed to buy Crestview Country Club, a financially troubled venue in Wichita, Kansas that features a pair of 18-hole, Robert Trent Jones-designed golf courses.
The club, which admits to being “faced with a number of unpleasant decisions” that need to be made, believes the sale will liberate its leadership from “a very difficult business.” A price hasn’t been announced, but if the transaction is completed Concert Golf will eliminate Crestview’s debt, initiate a series of capital improvements, and, according to the club’s board of directors, “run the club the way a country club should be run in today’s market.”
Concert Golf currently owns a dozen golf properties in eight states, and it’s said to have its eyes on a club in Rockville, Maryland. Crestview was founded in 1921 and claims to be the state’s only 36-hole facility.