What’s up with ClubCorp in Atlanta?

[thejuice]

They sold CC of Gwinnett (they needed to sell it), Northwood CC (which was definitely not close to their best track, but it was convenient to a lot of folks in Gwinnett) for land development and I just got wind that they sold Hamilton Mill with Traditions of Braselton to be sold next. Atlanta golf has always appealed to the folks with old Southern money because of the posh private clubs, so getting rid of ClubCorp courses is a major blow. I’m wondering if any of the public courses are in danger of being sold too. I’d imagine that The Frog would be interesting to developers because of its location in relation to Douglas, Paulding, and Cobb Counties. Same with City of Atlanta courses like Brownsmill and Tup Holmes due to regentrification.

[hollabachgt]

From what I've seen the city is reinvesting in the condition and infrastructure of the COA golf courses. That has resulted in more usage of the facilities, so I would doubt that the city at this time would turn them over to developers. I'd imagine that re-gentrification in those areas will actually be beneficial for Browns Mill and Tup Holmes, bringing a larger player pool closer to the facilities.

[BishopAU]

Hmmm. I know a club pro at Bear's Best (Also ClubCorp) will see if he knows anything.

 

He said Traditions and Hamilton Mill are done deals. Not sure what the deal is.

[hanger129]

I've only seen investment in Chastain so far. They renumbered the front 9 to speed up play and re-did the bunkers last year. Aside from that I've not seen investment made on any of the other courses (although Chastain and Browns Mill are the only ones I play semi-regularly). Gentrification in Lakewood (i.e. Browns Mill) is a long way away.

[hollabachgt]

The renumbering at Chastain was actually returning the routing back to the original order of the course. They're also doing some work to the clubhouse, including replacing the roof, and I believe new carts as well. At Browns Mill they'll be redoing all of the bunkers this year.

[BishopAU]

Apparently someone bought Hamilton Mill and Traditions from ClubCorp. Then they just sold Traditions. They only wanted Hamilton Mill.

[TM_HOYER]

Ever since Club Corp bought Canongate, I have been surprised they did not sell off a number of the lower end clubs in order to reduce the debt load they took on with the purchase. My thought was that most of the clubs south of I-20 would have been sold off along with a few clubs on the northside.

[thejuice]

Funny you say that because I thought there would be more sales besides Heron Bay and GA National on the southside (I did hear they sold Healy Point or they are selling it). I think they make too much revenue from the P’tree City cluster and CG1 to sell them. CG1 is the best draining facility IN THE STATE in my opinion. Where most courses are CPO, they would be a solid 90 degrees.

[GTgolf]

Apollo bought clubcorp for a premium a year ago or so..

Once that was official, Apollo was actively shopping the “dogs” faculties. Although some sold won’t neccesarily be dogs.

Surprised at the sale of Hamilton mill for sure.

I know the entire network is being restructured this year into teirs 1-4. Each tier will restructure budgets, membership does, etc.

i know they are still dropping major capital improvements into our facility, and heard they’re not quite sure what to do with some others. I usually learn more at board meetings coming up soon.

 

[TM_HOYER]

The problem is probably that they could get the most money for the properties they want to sell if they were sold to a home developer but getting them zoned so homes can be built would be difficult.

[wingfoot64]

ClubCorp Sun City Peachtree is being sold to a guy out of Houston, TX, supposedly it will happen in next couple of weeks (mid-May). I am a member there but I'm having a house built over in Peachtree City so I will be moving my membership over to that cluster in August.

[driveandputtmachine]

I have a buddy that has been a member of the Manor, ATL National, White columns cluster. He is gonna drop, he said they are continually raising the cost of the dues. Unfortunately he and his wife moved up to the area and libe in a neighborhood right at the Manor, and there aren't a ton of options up there, Echelon and Crooked Creek.