The Pellucid Perspective - February 2020 - 16

COMINGS
& GOINGS

Transactions edge out closures
fueled by KSL/Heritage deal

his month sees a real mixed bag of openings, closings,
transactions, foreclosures, and a Chapter 7. It kind of
looks like the club array in my golf bag.
Ferndale Country Club in Rushford, MN, is now owned
by a guy who was assisting the previous owner...find a new
owner. Ferndale will see improvements sure to bring back
golfers ten on a mule, including LED lighting, new carpet,
and aluminum doors. Oh, and food. Guess the course must
be perfect, and the old lighting and bad carpet are what drove
golfers away.
The Granby Ski Ranch and Golf Resort in Granby, CO, succumbed to $62 million in debt and was foreclosed. There is sure
to be more to this story.
Some courses just won't die. They are the cockroaches of

the industry. Fighting off D-Con this month includes Willow Creek in Rochester, MN, and Del Norte in Crescent City,
CA. The former's bank found two local guys to lease it for three
years, and the latter, closed for two years, was purchased by a
local father and son.
Tiger Woods makes the list this month, kind of. His first
Hawaii course design was to be at the Makaha Valley Resort
on Oahu. Not now - owner Pacific Links pulled the plug citing
financial pressures from the homeland, China.
Last, it's rather sad when a military base course shuts down.
Designed as a recreational amenity for those who serve our
country, the F.E. Warren AFB course in Wyoming lost money
for six consecutive years and saw airmen play just 10% of the
rounds which was not enough to keep it aloft.

Golf's landscape changes
Event

Open/Re-open

Closed

Transact

Course

DMA

Type/Holes

Summary

Del Norte

Eureka CA

Pub/9

Willow Creek

Rochester MNMason CityIaAustin MN

Pub/27

Closed two years ago, purchased by local father
and son.
Bank found two guys to lease the course for three
years, will reopen in the spring. To be renamed
"Cockroach Hills" - you just can't kill it.

Baypointe
GC

Tampa-St.Petersburg (Sarasota) FL

Pub/18

Purchased by Pinellas County for $1.2M, to
remain as 42 acre green space.

Granby Ski
Ranch and
Golf Resort

Denver CO

Pub/18

Foreclosure

F.E. Warren
AFB GC

Cheyenne WYScottsbluff NE

Mil/18

Losing money for six years. Airmen accounted
for less than 10% of play

The Woods
GC

Tulsa OK

Pub/18

OOOOOklahoma where the courses closing left
and right...

Shadow
Creek CC

Ft. Smith-Fayetteville-Springdale-Rogers AR

Pub/18

Joliet GC

Chicago IL

Pub/18

Formerly the private Joliet Country Club

Modesto
Municipal

SacramentoStocktonModesto CA

Pub/9

Will be put up for sale by the city. One of three
city courses.

Willowbend
GC

Wichita-Hutchin- Priv/18
son KS

Purchased by Great Life and Fitness

Ferndale CC

La Crosse-Eau
Claire WI

Pub/9

Purchased by local guy who was assisting finding a buyer for a year

Oakwood GC

Houston TX

Pub/9

Purchased by City of Houston for $291,500
plus 7 acres of city land.

16 The Pellucid Perspective

February 2020

http://www.Tampa-St.Pe

The Pellucid Perspective - February 2020

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