Golf Inc - April 2008 - (Page 12)

of Golf Course Architects president, was 84. He had battled pancreatic cancer for 10 months. During his 50-year ca career, Robinson was in involved in the design of m more than 160 courses. “ He w a s a t r u e pi pioneer in golf course ar architecture,” ASGCA Pr President Steve Forrest sa said of Robinson. “His in integrated design conce cepts set the standard fo for many of today’s Ted Robinson architects.” Among his bestknown projects was Sahalee Country Club in Redmond, Wash. Survivors include his son Ted Jr., who joined the Robinson course architecture firm in 1991. CNL Lifestyle Properties adds 3 Virginia courses CNL Lifestyle Properties (formerly known as CNL Income Properties) continues it aggressive acquisition strategy, in March acquiring three Virginia courses from regional owner and operator Traditional Golf Properties for $26.3 million. The course portfolio acquisition is the first for CNL Lifestyle in Virginia, and the first time the company has partnered with Virginia-based Traditional. As is CNL’s pattern, the company entered into a leaseback agreement for Traditional to continue as operator. The new CNL-owned courses are The Crossings in Glen Allen, Kiskiack in Williamsburg — both semi-private courses — and Broad Bay in Virginia Beach, a private club. “We’re real excited about working with Paul [Mauk, Traditional president] and Traditional,” said CNL Lifestyle Properties Vice President Rudy Anderson. “They’ve got a great operating model, and we’re really happy to be in Virginia.” The acquisition brings the total number of courses owned by CNL to 52. GPSI mourns death of top executive Just four months after taking over as chairman and chief executive officer of GPS Industries, Douglas Wood died March 30 at his home in Greensburg, Pa. Wood, 54, had been a member of GPSIís board of directors for five years before assuming the leadership of the company following the resignation of Robert Silzer Sr. Roger Paradis, who had joined GPSI as interim chief operating officer last fall, has taken over some of Wood’s responsibilities and will assume a larger leadership role with the company. Sales scorecard Lenape Heights Golf Course Ford City, Pa. BUYER: Herkules Golf & Entertainment SELLER: Lenape Heights Development Corp. DATE: February 2008 PRICE: $1.9 million The seller had filed for bankruptcy protection last year, but decided to sell when it received an offer from Herkules. The new owners plan to make a number of improvements to the 5,900-yard daily fee course that averages about 20,000 rounds annually. Greens fees range from $20 to $35, and it does have between 30 and 50 paid memberships. The course p p was built in 1966 and was designed by architect Ferdinand Garbin. A new clubhouse and i i ti system l bh d irrigation t was added in the 1990s. Crystal Springs Country Club Caldonia, Mich. BUYER: Watermark Country Club ownership group SELLER: Membership/Byron Center State Bank DATE: January 2008 PRICE: $2-3 million (est.) The buyers hope to duplicate the same business model at this 18-hole private club that they instituted after purchasing Watermark in 1997, combining private golf and swimming facilities with a public restaurant and banquet facility. They plan to spend up to $4 million in facility upgrades. They hope to reopen the course in 2009. In recent y years, Crystal Springs had , y pg struggled to survive because members were unable to make the necessary improvements to attract enough new i t t tt t h members. As a result the bank was h in the process of foreclosing on the property. The course is the centerpiece 7 d m of a 740 home residential community 740-home community. Hickory Hills Golf Club Bluffton, Ind. BUYER: IMI Erie Stone Quarry SELLER: Norman K. Knight DATE: February 2008 PRICE: $360,000 The buyer at auction of the 9-hole daily fee club operates a stone quarry nearby and wants to keep the property as a golf course to function as a buffer between the quarr y and other types of development. The sale price did not include golf t u carts and maintenance equipment. A spokesman for the company said y plan to lease the p p y to they p property a third-party operator. The course opened for play in 1974 and was built b Knight d two partners. He had t H hd by K i ht and t acquired full ownership in 2007. 12 Golf Inc Inc. April 2008

Table of Contents Feed for the Digital Edition of Golf Inc - April 2008

Golf Inc - April 2008 Contents Editors Column Birney Takes NGCOA Helm Construction Costs on the Rise KemperSports Adds 14 Courses Americas: Fazio Designs St. Kitts Layout Europe/Africa: Seaside Resort Planned in Egypt Asia/Australis: Faldo Opens New Chinese Course High-Tech Tools: New Technologies that can Help Operators There's No Economic Slump at Still-Popular Reynolds Plantation Tim Moraghan Wants to Make Golf Fun Again Why a $1.5 Billion Resort has Made Environmental Protection a Top Priority Most Admired Operators Marketing Experts Make Their Pitch for Golf Courses From Korea, with Cash Last Word

Golf Inc - April 2008

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