The Pellucid Perspective - November 2020 - 16

COMINGS
& GOINGS

An Odd Assortment of Activities, Not Many
Straight " Open/Close " Stories

I

f you enjoy odd anthologies in your reading, this month's
column is for you. Publicly-reported activities that we were
able to track numbered 11 but only 5 of them were the garden variety transactions. Importantly, we saw another 2 facilities actually make it to the market so there's still some breath of
life in new supply but, of note, one of the properties located in
the Dallas market has been 20 years in the making so that also
tells you something (juxtapose that to the 2 PGA courses under
development in Frisco which will likely make it from concept to
play in <2 years).
Score " 2 " for political correctness this month as name changes
removed the much-maligned word " plantation " from their titles
with one opting for the Disney-esque theme of naturalism naming the facility after a much-beloved river with a spirit of its
own while the other just dropped plantation replacing it with the
more descriptive term of " Links " at Brick Landing.
The bulk of the remainder of activities were what we call " story transactions " where someone is either buying into a dream or
a totally new concept of golf breathed into a former traditional

facility (see CC of Woodbridge for the furthest reach on what
golf could (should?) be) or the odd event where an institutional
owner " donates " a golf course to a local municipality (in Boca
Raton FL of all places, can you say " Trojan Horse " ?). If nothing else, it can be safely said that tracking the monthly activities
and transactions in the golf industry is always worth the price of
admission.

Heath Golf & Yacht Club,
Dallas-Ft.Worth TX
HTTPS://WWW.HEATHGOLFANDYACHTCLUB.COM/THE-COMMUNITY

Golf's landscape changes
Event

Course

DMA

Type/Holes

Summary

Heath Golf &
Yacht Club

Dallas-Ft.Worth
TX

Priv/18

Brick Landing
Plantation

Wilmington NC

Pub/18

2-decades in the making (initial land purchase
'01), first new Dallas Club in years, to be followed
by 2 new PGA courses in Frisco; broke ground
in Jul '18 so not the fastest buildout. $20K
initiation fee, supposedly selling at a brisk pace,
has a tailwind of No. TX economy that's on fire
currently, tax-friendly
Sold back in Jan '20 to 3 residents for $1.2M, now
working to re-open and bring it back to life, selling
$5K shares (50 bagged to date) to help cashflow,
yet another victim to PC changing name to The
Links at Brick Landing but, hey, at least this one is
in the South (vs. ID)

Open/Re-open

Closed

Transacted/
For Sale

Laughlin Ranch Phoenix
GC
(Prescott) AZ

Pub/18

Sold by Mariner family to Glass Mtn Farms, Troon
retained as mngmnt company, Mariner family
bought in '17, 3-and-out

Henderson CC

Priv/18

New owner, Charles Morris poultry baron, paid
just over $1M for it, pledges to remain course for
at least 3 yrs, " leaning into " building back to 300
members, not a Taj Mahal but solid private offering
with a great playing experience

16 THE PELLUCID PERSPECTIVE

Evansville IN

NOVEMBER 2020
https://www.heathgolfandyachtclub.com/THE-COMMUNITY https://www.heathgolfandyachtclub.com/THE-COMMUNITY
The Pellucid Perspective - November 2020

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