Transactions, february 19, 2016

     Kailua-Kona, Hawaii County, Hawaii. An investment group from California has purchased a controlling interest in Big Island Country Club, a 403-acre community on -- where else? -- the Big Island. UNIVA Resort LLC, an entity related to Hong Kong-based UNIVA Capital Holdings, Ltd., paid an undisclosed amount for Moshe Silagi’s stake in Big Island, which features a 19-year-old, Perry Dye-designed layout. Dye’s 18-hole course -- “one of the most unique Hawaii golf courses,” the club says, and “the perfect course for a Hawaii golf vacation” -- rang up more than 40,000 rounds last year, according to the Hawaii Tribune-Herald. Silagi, who’s based in Thousand Oaks, California, had controlled Big Island since 2010. The community has been master-planned for 99 single-family houses.

     Ponte Vedra Beach, Florida. The first golf property to open in the Sawgrass master-planned community (now TPC Sawgrass) has a new owner. A local investment group, Alta Mar Holdings LLC, paid who knows what for Ponte Vedra Golf & Country Club, a venue whose facilities have reportedly “suffered from neglect for many, many years.” Alta Mar has promised to “right the ship.” The club opened in the early 1970s, and its 18-hole golf course was later redesigned by Arnold Palmer and Ed Seay. The seller was Jamey Golf LLC, an entity controlled by James Salmon, who reportedly paid $3.7 million for the property in 2003.

     East Falmouth, Massachusetts. Golf Club of Cape Cod has new owners and a new name. Sacconnesset Golf Society LLC paid an undisclosed amount for the 152-acre property, which is now known simply as TGC (The Golf Club). Links magazine says that TGC’s nine-year-old course “looks as though it has been there for decades,” and the track’s architect, Rees Jones, thinks that “all 18 holes fit the land like a glove.” The new owners bought TGC from a group led by Martin Shaevel. They believe the club is “unquestionably the best in the region,” and they describe their mission as “competition, tradition, and camaraderie.”

     Spokane, Washington. Spokane Country Club, a venue that was forced to declare for bankruptcy protection after a court determined that it had discriminated against some of its female members, has accepted $3 million for its 118-year-old property. The offer came from the Kalispel Tribe, which operates a nearby casino and is looking to add amenities that might extend its customers’ visits. “We’re always looking at diversifying our businesses,” the casino’s general manager told KXLY-TV. Spokane had hoped to sell itself to Phil “the Gambler” Mickelson’s investment group and remain in business as a private club, but M Club Holdings lost interest when it decided that “it was unable to make the numbers work.” Because Spokane’s public image is in shambles, the tribe has changed its name to Kalispel Golf & Country Club.

     Poughkeepsie, New York. It took three years, but Rhinebeck Bank has finally found a buyer for one of the nation’s oldest golf properties. In November, the bank accepted an offer for Dutchess Golf Club from Anthony Bacchi, the owner of Lazy Swan Golf & Country Club in Saugerties, New York. Bacchi intends to operate Dutchess, a private club that was founded in 1897, as a semi-private venue. The club has one major claim to fame: Franklin Delano Roosevelt was once one of its members.

     Stanford, Kentucky. Lester and Carla Newsome are the new owners of Dix River Golf Course, a property in suburban Lexington that will celebrate its 50th anniversary in 2017. The Newsomes bought Dix River from Danny McQueen, a member of the Kentucky Golf Hall of Fame and the owner of several golf properties in the state, among them two in Nicholasville, Keene Trace Golf Club and Golf Club of the Bluegrass. McQueen bought Dix River in 2012, a time when it was said to be “struggling.” Perhaps it still is.

     Yanceyville, North Carolina. A group led by Bob Greear has acquired Caswell Pines Golf Club, a 23-year-old venue that features an 18-hole, Gene Hamm-designed golf course. “I fell in love with it the first time I ever walked on it,” Greear told the Caswell Messenger. The newspaper reports that the new owners aim to make Caswell Pines “a destination golf course,” and Greear has promised to make it “one of the best golf courses in the area, if not the best golf course in the area.” Greear is also reportedly a part owner of Draper Valley Golf Club in Draper, Virginia.

     Auburn, New York. The troubled Owasco Country Club has been sold to one of its members, reportedly for $883,023. Gerald Crowley, operating via Owasco Golf & Tennis Club LLC, bought the 86-acre club and its nine-hole golf course late last year. Though the Auburn Citizen says that the club “had been struggling financially in recent years,” the newspaper reports that Crowley has “no plans to make any significant changes to the club’s daily operation.” Owasco was founded in 1896, as Auburn Golf Club, and it relocated to its current location in 1901, with a John Van Kleek-designed course.

     Crosby, Texas. To preserve the value of their homes, the members of the Newport Property Owners Association have purchased their community’s golf course. The POA paid an undisclosed price for Newport Golf Course & Country Club, a venue in suburban Houston that opened in 1970 and was once a stop on the LPGA Tour. The POA made the acquisition to prevent the club’s former owner, an entity called Newport Golf Club Partners, from selling part of the course to a residential developer. It’s committed to making upgrades to both the clubhouse and the golf course, which have, according to the club’s pro, “kind of gone downhill” in recent years. To signal a fresh start, the property has been given a new name: Stonebridge Golf & Event Center.

     Waukegan, Illinois. In mid November 2015, Glen Flora Country Club changed hands. The relevant information about the transaction is, at least for now, being kept under wraps, but Golf Digest indicates that the seller was hoping to get $2.75 million. Glen Flora was founded in 1911 and moved to its current location in the early 1920s. It had its moment in the sun in 1963, when it persuaded Gary Player, Arnold Palmer, and Jack Nicklaus to play a two-day, winner-take-all match for $50,000. (If you must know, Player went home with the prize.) Glen Flora believes its 18-hole golf course offers “incomparable charm and challenge” and credits the layout’s design to its first pro, Austin Clayssens. (A “preeminent architect,” it calls him.) A local history says that Alex Perry, who was affiliated with Old Elm Club in nearby Highland Park, contributed to the layout’s design.