The Pellucid Perspective - December 2020 - 17

Event

Transacted/
For Sale

Course

DMA

Type/Holes

Summary

International
Club of Myrtle
Beach

Myrtle BeachFlorence SC

Pub/18

Purchased by Chris Manning Communities from
former individual owner, Jack Davis, East Coast
Golf to manage, potential to redevelop driving
range into short-term family housing rentals (kinky)
to create " additional value "

Holston Hills
Community GC

Tri-Cities TN-VA

Pub/18

Interesting public-foundation partnership, muni offloads
economic burden of course to Smyth County Community Foundation; pays the foundation $50K/yr for
the " favor " (relieving muni of ~$200K annual loss last 4
yrs), hope the Foundation has deep-pocketed, charitable
supporters and a good investment strategy; they're going to need it

The Links at
Victoria GC

Los Angeles CA

Pub/18

GC is " in the way " of proposed $65M Carol Kimmerman Sports & Academic Campus proposal that drips
with philanthropy (anytime it has someone's name on it,
you're in trouble) and has Tiger Woods' name associated with it. Golfers pleading for reprieve; forget it guys,
you're " toast " on this one...

LochenHeath
GC

Traverse CityCadillac MI

Priv/18

Developers and investment companies assert that
" it was always intended to be a private experience " and now appears to be the magical time.

Pub/18

Renamed to The Yards, 18 hole layout converted
into 12 hole reg-length course + 6 hole Par 3 layout, focus on fun, speed and variety, named The
Yards because one layout is Front Yard, other is
Back Yard (makes sense...)

Redevelopment

Oak Bridge GC- Jacksonville FL
>The Yards GC

PGA Frisco

Dallas/Ft Worth, Pub/36
TX

General interest note, course will be completed
prior to '21 season but decision made to defer
until June '22(???). You know you've got too much
money & time on your hands when you can defer
an opening for over a year but, with all the professional events PGA has lined up, they likely can
afford this luxury

West Palm
Beach
Municipal GC

West Palm
Beach

Pub/18

In " man bites dog " story, the PGA of America is
attempting to raise $25-$30M to re-open and restore this facility shuttered in '18. It's an odd calculus for PBeach native Seth Waugh as he moves
the PGA out of FL to try and raise $25-$30M to
save a failed muni in FL. We know there must be
a strategy here...

Newark CC

Philadelphia PA

Priv/18

Club has a stay-of-execution after several other
deals/financing fell through, " white knight " Lang
Dev. Group agrees to buy and leaseback for init.
10 yr period and potential 10 yr extension. Not
sure what Lang gets out of this deal other than
land they could redevelop in 20 yrs, that's playing
the " long game "

International
GC & Resort

Boston MA
(Manchester
NH)

Pub/36

Pending sale of courses and resort to Escalante
Golf for $10M if creditors approve liquidation
plan. What a mess, some creditors are people
who had booked weddings and events cancelled
with no refunds when abruptly closed up (Mar
'20), two Weadock brothers in the family business
playing " he said, he said, " hopefully it can liquidate to end the farce

Status Change

Distress Sale

www.PellucidCorp.com

The Pellucid Perspective

17
http://www.PellucidcorP.com
The Pellucid Perspective - December 2020

Table of Contents for the Digital Edition of The Pellucid Perspective - December 2020
