The Pellucid Perspective - March 2011 - (Page 13)

COURsE TRANsACTIONs Comings & goings Editor’s Note: We plan to include a section like the following list of course legal and sales transactions in each monthly issue of The Pellucid Perspective. The list is by no means a comprehensive listing of course sales, closure or foreclosure activities. Rather it is designed to list a number of links to stories from media across the country that may provide information on comparative course values, trends or related news, in one easy to access listing each month. When applicable, the Pellucid Perspective staff will provide commentary or analysis of any trends or particularly newsworthy material in that month’s listings. In this inaugural section, the obvious trend is the number of petitions to bankruptcy court, most designed to forestall foreclosure through a Chapter 11 bankruptcy reorganization filing. It is Texas bankruptcies interesting, if not totally surprising, to see a couple of high profile properties involved in bankruptcy filings, The Bull at Pinehurst Farms in Wisconsin and Summit Rock in the Horseshoe Bay development on the Texas Gulf coast, both of which are Jack Nicklaus designs. It is also perhaps instructive - and another indication that the wave of Korean purchases of U.S. courses appears to have been only slightly less painful than the Japanese buying spree of the 90s – that the Augustine Golf Club in Virginia sold to a group including Raspberry Golf Management for $2.75M against the $8.5M paid for the course by a Korean investor only 30 months prior. Regardless of how the Korean won stacks up against the dollar, that’s not good. We hope you enjoy the section, and let us know, one way or the other. http://www.statesman.com/blogs/content/shared-gen/blogs/austin/golf/entries/2011/03/03/avery_ranch_goes_to_bankruptcy. html?cxntfid=blogs_austin_golf_backspin http://www.statesman.com/business/developer-seeks-bankruptcy-protection-for-three-more-partnerships-1293614.html Massachusetts b.k. filing Tamarack update http://www.thesunchronicle.com/articles/2011/03/02/news/8936270.txt http://idahoresortrealty.com/news/20/77/Tamarack-Legal-Update.html Pasco, WA, I.R.I. Golf in dispute http://www.thenewstribune.com/2011/03/01/1564653/pascos-sun-willows-ends-lease.html Crescent, Honours Golf in litigation Augustine GC in VA sold http://www.gcginc.com/cases/ctr/pdflib/1745_11507.pdf http://fredericksburg.com/News/FLS/2011/022011/02262011/609761 CA Trinitas course in limbo http://www.recordnet.com/apps/pbcs.dll/article?AID=/20110224/A_NEWS/102240316/-1/NEWSMAP NC’s Olde Point course in jeopardy http://www.starnewsonline.com/article/20110224/ARTICLES/110229821/-1/business?p=2&tc=pg Textron attempts foreclosure on NC course http://www.enctoday.com/news/owners-95168-nbsj-bankruptcy-taberna.html Bankrupt Dominion Club in VA gets $1.5M loan Longmont, CO club sold http://www.richmondbizsense.com/2011/02/23/interim-loan-approved-for-bankrupt-golf-club/ http://www.timescall.com/news_story.asp?ID=25402 Wisconsin’s only Nicklaus course in foreclosure Upstate NY course sold http://www.sheboyganpress.com/article/20110216/SHE0101/110216067/Update-Bull-golf-course-placed-in-foreclosure http://www.timesunion.com/local/article/Golf-course-owner-buys-Normanside-1046236.php www.PellucidcorP.com The Pellucid PersPecTive 13 http://www.statesman.com/blogs/content/shared-gen/blogs/austin/golf/entries/2011/03/03/avery_ranch_goes_to_bankruptcy.html?cxntfid=blogs_austin_golf_backspin http://www.statesman.com/blogs/content/shared-gen/blogs/austin/golf/entries/2011/03/03/avery_ranch_goes_to_bankruptcy.html?cxntfid=blogs_austin_golf_backspin http://www.statesman.com/business/developer-seeks-bankruptcy-protection-for-three-more-partnerships-1293614.html http://www.thesunchronicle.com/articles/2011/03/02/news/8936270.txt http://www.idahoresortrealty.com/news/20/77/Tamarack-Legal-Update.html http://www.thenewstribune.com/2011/03/01/1564653/pascos-sun-willows-ends-lease.html http://www.gcginc.com/cases/ctr/pdflib/1745_11507.pdf http://www.fredericksburg.com/News/FLS/2011/022011/02262011/609761 http://www.recordnet.com/apps/pbcs.dll/article?AID=/20110224/A_NEWS/102240316/-1/NEWSMAP http://www.starnewsonline.com/article/20110224/ARTICLES/110229821/-1/business?p=2&tc=pg http://www.enctoday.com/news/owners-95168-nbsj-bankruptcy-taberna.html http://www.richmondbizsense.com/2011/02/23/interim-loan-approved-for-bankrupt-golf-club/ http://www.timescall.com/news_story.asp?ID=25402 http://www.sheboyganpress.com/article/20110216/SHE0101/110216067/Update-Bull-golf-course-placed-in-foreclosure http://www.timesunion.com/local/article/Golf-course-owner-buys-Normanside-1046236.php http://WWW.PELLUCIDCORP.COM

Table of Contents for the Digital Edition of The Pellucid Perspective - March 2011

The Pellucid Perspective - March 2011
Contents
A Look Back at 2010, a Fitting End to a Fitful Decade
Courses Can Take Environmental Credits to the Bank
Feb 2011 Ytd Weather Impact, Jan 2011 YTD Utilization
Can Alternative Golf Change Golf ’s Fortunes?
Guess Who’s Coming to Dinner?
Comings & Goings
Boston, Ma Core Business Statistical Area (Cbsa)
The State of the Game – Really?

The Pellucid Perspective - March 2011