The Pellucid Perspective - February 2022 - 11

Event
Course
Glen Oaks
Country Club
DMA
Des MoinesAmes
IA
Type/Holes Summary
Priv/18
Local business owners & members bought club
in '10 and successfully navigated Great Recession
and everything prior to COVID but now decide to
cash out selling to Concert Golf. Purchase price
undisclosed but hopefully they made out and now
the members will report to Concert and their model
World Woods
Golf Club
Transacted/
For Sale
Medina Country
Club
Little Harbor
Country Club
Tampa-St.Petersburg
(Sarasota)
FL
Cleveland-Akron
(Canton) OH
Boston MA
(Manchester NH)
Pub/45
Priv/27
2 courses, Pine Barrens & Rolling Oaks,
purchased by Cabot (yes, that one of Nova
Scotia fame) to be renovated and reimagined and
property rebranded Cabot Citrus Farms in '23.
Bought by Bill Cosgrove, CEO of Union Home
Mortgage, course was foreclosed in '19, bought at
auction in '20 for 2.3M by Medina Thrive Golf LLC
('18 assessment of $2.95M) and now " flipped " for
$3.5M (good work if you can get it!).
Pub/18
The little club that refuses to give up. Owners
wanted out, no buyers, Mass. Audubon wanted it
for conservation project which folded after locals
" pressure " , now the Town of Wareham is putting
before the Board to purchase it outright and
continue as a golf operation. Stay tuned for next
month's twist...
Links at Queen
Creek Golf
Course
Sunrise Golf &
Country Club
Phoenix
(Prescott) AZ
N/A
Pub/18
Diversified Partners of Scottsdale AZ purchases
shuttered course; hefty price tag but bundles to
be made in $750M makeover and development of
property
N/A
Redevelopment
Boca Raton
Municipal Golf
Course
West Palm
Beach-Fort
Pierce FL
27
Course closed in '15, has been dormant since
but acquired via some 3rd party transactions by
CC Homes which put together with add'l parcels
for new, sizeable residential/commercial development.
Another rich price for golf course/land but
once again proves that highest-and-best use often
is not golf (unfortunately....)
This has to be the highest price ever paid for a
(former) municipal golf course @ $65.7M. GL
Homes redeveloping land and likely they'll get
all that back and then some in the real estate
arbitrage math game
Villa Del Ray GC Delray Beach, FL N/A
Similar move to Links @ Queen, previously
shuttered course, Lennar to redevelop into master
community; they'll get their money back and more,
even after paying 8-figures for a " golf course "
Bobby Jones
Golf Club
Tampa-St.Petersburg
(Sarasota)
FL
Pub/45
Status Change/
Other
45-hole facility closed in '20 by Sarasota City
commission, was on the block for development
but locals convinced commissioners to reconsider.
Compromise was scaling back to 27 holes,
repurposing remaining land for public, greenspace
use and (we guess) they've thought through the
financials and how to not lose money in this new
incarnation. Good for golf/local golfers though.
Whaling City
Golf Course
ProvidenceRiNew
Bedford MA
Pub/18
Testament to politics being the " art of the
possible " , New Bedford wanted to commercialize
the land, residents not so much so compromise
was shrink the golf footprint and commercialize
the " liberated " land. Press was vague but sounds
like reduce 18 holes to 9 (175 acres of the current
275) and call that feat " retaining modern golfing
facilities " to the press and locals. Nicely finessed...
Jasper Hills (formerly Sebastian Hills) Golf Club, Dayton, OH
On-the-bubble
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11
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The Pellucid Perspective - February 2022

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