The Pellucid Perspective - May 2021 - 12

COMINGS
& GOINGS

Event

Transacted/
For Sale

Course

DMA

Type/Holes

Summary

River Club of
Mequon

Milwaukee WI

Priv/27

Heritage Golf Group purchased in Jul '20, price
undisclosed, this one was so " stealth " that not
even Mequon-resident Stuart L. knew about it!

Muskegon
Country Club

Grand RapidsKalamazooBattle Creek MI

Priv/18

Sold in '14 to an investor group which now sold to
RedWater Collection which now owns 5 public & 3
private clubs in the state

South Ridge
Golf & Pub

Sioux City IA

Pub/9

Hopefully the price was right as this went at Sheriff's
sale in '09 for $1.4M (for a 9-hole course???) to IA-NE
Bank which had interim operators but no success in
making any money... New owner has lease-purchase
arrangement w/So. Sioux City CDA, good hedge

Newark
Country Club

Philadelphia PA

Priv/18

Lang Development Group agrees to 10-yr lease
back to members for $6M transaction price w/
another 10-yr option. Members get " half a loaf "
and stay-of-execution, Lang could be betting they
don't make it and then can develop

Bay Point Golf
and Tennis
Club

Panama City FL

Pub/36

Sold by Torchlight Investors to BP Linx (local family in Bay Point), Bobby Jones Links to manage,
Nicklaus Design, only 18 of the 36 holes survived
Hurricane Michael, the other 18 is now just " a
nice-looking area around the [Nicklaus] course. "
Jack the Master Gardener...

Shelby
Crossing

Cleveland-Akron Pub/18
(Canton) OH

New owners & name change, sold to 5-person investor group that also owns 3 other Richland Cnty
OH courses, now being marketed as a portfolio for
play under one membership

Patriot Hills
Golf Club

New York NY

Pub/18

An interesting deal, 18 hole course, land and a
former mental institution (Letchworth). Politicians
dump a non-performing assets, get other assurances and real estate tax revenue going forward
(win-win-win). Of course it's being fought in court
by residents who wanted to keep the course (every
golf shot makes someone unhappy theory)

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!

Great Southern Biloxi-Gulfport
Golf Club
MS

Pub/18

Lots of history here (unfortunately for this dayand-age, Confederate), initially sported oyster
shell tee boxes and sand greens, now owes $4.8M
and looking for a capitalized (preferably patient &
inpolitically correct) buyer

Normandie GC

Pub/18

Short version of the novella here, bought by
Univ. of MO for $1.4M, operated by Walters Golf
Mngmnt which resigned the contract and UMO
then shuttered. Nicklaus agrees to re-design and
designate Signature course; Jack agrees to help
fundraise through USGA connection Tom O'Toole
for the benefit of under-served local population on
oldest course (just) west of the Mississippi.

Redevelopment
Status Change/
Other

On-the-bubble

12 The Pellucid Perspective

St. Louis MO

MAY 2021
The Pellucid Perspective - May 2021

Table of Contents for the Digital Edition of The Pellucid Perspective - May 2021
