The Pellucid Perspective - May 2021 - 11

Event

Course

DMA

Type/Holes

Summary

Hawk's Eye Golf
Resort

Traverse CityCadillac MI

Pub/18

Lake Presidential Golf Club

Washington DC
(Hagerstown
MD)

Pub/18

Acquired by Shanty Creek Resort, marks their 5th,
18 hole course in the resort's portfolio increasing
its influence in No. MI destination market, also
added TopGolf Swing Suite to the mix
Sold through Leisure Invest. Prop. Group, had
been listed on market in Q4 '20 for $1.75M (final
price not disclosed), individual buyer described
as " golf industry veteran who has owned and
managed over 100 private clubs, daily fee golf
courses and resorts over the past 44 yrs " (that
narrows it down a bit but still more than a few
candidates...)
New ownership after 1 yr in bankruptcy, new
investors are a group of local friends, locals will
be feeding recycled water to course ponds which
will then feed course (novel approach...)

Bellair Golf Club Phoenix
(Prescott) AZ

Pub/18

Desoto Country HuntsvilleClub
Decatur
(Florence) AL

Pub/9

Local resident negotiates lease-to-buy agreement
on closed course by city, 3-yr lease, option to buy @
$225K. " Owning the golf course got me back to having
an affordable place to play and I want to give everyone
an opportunity to have an affordable place to play "

Westwood Golf
Club

Pittsburgh PA

Pub/18

Older owner wants out of a troubled facility that was
Private, now public (via '07 bankruptcy). Seller wants
sale contingency it must retain 9 holes of golf, that gives
it some play w/additional land for development but
could be tough " ask "

Little Harbor
Country Club

Boston MA
(Manchester
NH)

Pub/18

Owners want out, no buyers in current listing cycle,
discussion underway with Mass Audubon which would
return it to nature preserve & paths, lots of politics..

Red Tail Golf
Club

Boston MA
(Manchester
NH)

Pub/18

Listed in '20 For Sale @ $6M (selling price not disclosed by LIPG), transaction announced in April '21

Stanton Ridge
Golf & Country
Club

New York NY

Priv/18

Heritage Golf Group purchases in Q1 '21, price undisclosed, Heritage's 10th course in portfolio, multiple
acquisitions in past 6 months w/KSL financial backing

Boulder Ridge
Country Club

Chicago IL

Priv/27

Heritage Golf Group purchases in Q1 '21, price undisclosed, Heritage's 11th course, first private club in
Chicago market

Green Acres
Golf Course

Flint-SaginawBay City MI

Pub/18

Purchased in Oct '20 by husband-wife-child team; she
wanted to run a restaurant, he a bar so naturally...buy
a golf course! We wish them well but also offer the
song " Dancing in the Minefield " for a listen by Andrew
Peterson!

Waynesville
Country Club
Inn

Pub/27
GreenvilleSpartanburg
SC-Asheville NCAnderson SC

Sold (finally) in Q1 '21 @ 89% of last-listed, bought
by WGC Hospitality so would appear that golf & resort
model will be the ongoing path

The Four
Seasons Island
Resort

Green BayAppleton WI

Pub/27

Historic hotel & 9 hole golf that's lost some of its luster,
claimed replacement value of $30M(?), this one is likely
Lazarus act for right buyer, golf insignificant

Chili Country
Club

Rochester NY

Pub/18

Bought by TGIB, parent company of Rock Bottom
Golf, becomes the " flagship location " for RBG, founder
worked @ Chili as a kid...so he bought the place! We
know the Pro Shop will be " solid " (ha, ha)

North Creek
Golf Course

Memphis TN

Pub/18

Purchased in Jul '20 by Boxer Resorts, significant
CapEx plans announced, course has hosted numerous
events, another attempt at polishing a neglected gem

Wanaki Golf
Course

Milwaukee WI

Pub/18

Storm Family Group (owns 3 other WI courses) purchases fm Waukasha County which announced in '19 that it
would be sold or closed (good outcome here then!)

Transacted/
For Sale

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The Pellucid Perspective - May 2021

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