Leland | Those who golf at Magnolia Greens can look forward to some positive changes over the next few months, according to the new owners of the course.
Magnolia Greens Ventures LLC, a group of local investors including former touring pro and Magnolia Greens resident Tommy Jacobs, took ownership of the public course on Monday following several months of negotiations.
Rick Sears, president of Azalea Research Center and also a member of the investment group, said course patrons will see "generally just more of the good stuff" as a result of the sale.
"This was not an entity in difficulty," he said. "It's very successful already. Our plans are going to be to talk to people and assess over the next couple of months what good things we want to embellish and what we want to eliminate, and likely following that assessment we will try some new things."
Changes include an emphasis on instruction and getting new people, such as children and women, to play there, Sears said.
"Magnolia Greens is great, and the layout is wonderful for introducing new people to golf," he said.
Sears declined to name all the investors involved in the course but mentioned golf professional John Jacobs, Tommy Jacobs' brother, as also being a part of the venture.
"I can say they're all ingrained in the community in a major way," Sears said of the other investors. "We're going to work really hard to promote Magnolia Greens to the overall golf community."
Rick Ferrell, former general manager at Rivers Edge in Shallotte, will become head professional and general manager at Magnolia Greens this week.
The former owner, Magnolia Greens developer Landmark Commercial, had operated the course since it was created in 1997 and had been looking for the right buyer for a couple of years, said Landmark owner Rex Stephens.
"The course was built for the purpose of developing and selling the residential property around the course," he said. "We are 98 percent sold now, and we had planned to sell the course as we were finishing up.
"I think we have found as good a group as we could've found," Stephens added.
The purchase price for the 4.52-acre golf course property was about $1.09 million, according to Brunswick County deed transfer records, but Stephens said that did not include equipment, inventory, business good will and other aspects of the transaction. He would not disclose the total price of the deal because he said all parties involved signed confidentiality agreements.
Full Article
Ken KeeganReal Estate Broker(910) 523-0903 mobileEmail Mewww.KenKeegan.com
No comments:
Post a Comment