Crescent Resources’ Palm Coast Golf Properties Under Sales Contract

CB Richard Ellis website lists The Grand Club ”under contract.” Though not noted on the website, the Grand Haven Golf Club is reportedly under contract as well.

Palm Coast, FL – September 18, 2010 – Crescent Resources LLC recently emerged from Chapter 11 bankruptcy. Now it’s shedding assets, including several Florida and Georgia properties once owned by Crescent subsidiary LandMar Group LLC. Commercial broker CB Richard Ellis (CBRE) is representing Crescent. Recent updates to their website indicate The Grand Club in Palm Coast Florida, Osprey Cove, and Winding River in Georgia are "under contract." While not noted on the website, Grand Haven Golf Course, also in Palm Coast is reportedly under contract as well. CBRE has not responded to requests for further information.
CBRE’s website describes the properties as follows:


The Grand Club is comprised of three golf courses (and clubhouses), all situated within a five-mile radius on the west side of I-95 in Palm Coast. The Pine course features a highly-regarded Arnold Palmer design and a 18,094 square foot clubhouse. The Cypress course features a Gary Player design and a 5,850 square foot clubhouse. The Matanzas course has been closed for approximately three years with a golf course originally designed by Arnold Palmer. In addition to the three golf courses, this offering includes up to 183 entitled residential lots – 33 on the Pine course and 150 on the Matanzas course. The total asking price is $2.2 million.

The Club at Osprey Cove UNDER CONTRACT

The Club at Osprey Cove in St. Marys, Georgia is a premier private country club that occupies approximately 204 acres within a 1,014-acre master-planned community along the St. Marys River. The golf course was designed by Mark McCumber and is complemented by a 21,000 square foot main clubhouse and 3,200 square foot sports clubhouse, with full recreational amenities (asking price $3.3 million). This offering also includes 156 finished residential lots, a six-acre commercial tract and a 1,700 square foot sales center (asking price $4.6 million). The total asking price is $7.9 million.


Winding River is a beautifully master planned community designed by LandMar. It is situated on 350 acres in Camden County, GA near the US Navy’s Kings’ Bay Naval Station. The 558 unit community is designed to combine the best of nature and neighborhood by incorporating a collection of neighborhoods with tidal marsh, lake, and nature preserve views.
Recreation opportunities abound, with trails, boardwalks, and a nearby 500 acre State Park located within minutes. Associate golf memberships are available at Osprey Cove as well as planned boat storage and tennis courts.
The amenity center Savannah Club is completed and includes an Olympic sized pool, fitness center, catering kitchen and gathering rooms.
Of the 222 finished lots, only 7 are interior. The remaining lots are marsh front, lake front or on the preserve. There are 79 – 50′ lots, 48 – 65′ lots, 64 – 80′ lots and 31 – 100′ lots developed and ready for new home construction.

Grand Haven

Grand Haven Golf Club in Palm Coast is a premier private country club that features a Jack Nicklaus Signature golf course and an attractive 17,000 square foot clubhouse. Its country club anchors a 1,478-acre waterfront, gated community with 1,900 homes and a wide range of quality recreational amenities. The asking price is $3.85 million.

Also listed

The Golf Club at North Hampton

The Golf Club at North Hampton in Fernandina Beach is a semi-private club that occupies approximately 214 acres in the 706-acre North Hampton master-planned community. The award-winning golf course was designed by Arnold Palmer and is complemented by a 9,500 square foot clubhouse (asking price $2.53 million). This offering also includes 25 finished residential lots (asking price $1.75 million). The total asking price is $4.28 million.

The Golf Club at South Hampton

The Golf Club at South Hampton in St. Augustine is a semi-private club that occupies approximately 150 acres in the 900-acre South Hampton master-planned community. The golf course was designed by Mark McCumber and the two-story clubhouse measures approximately 4,637 square feet. The asking price is $2.97 million. previously reported the sale contracts for two other Crescent golf communities; Southern Hills and River Hall, both in Florida. The purchaser was Greenpointe Communities LLC. Greenpointe was founded by Ed Burr. Burr also founded Landmar Group in 1987. He sold his Landmar interest to Crescent Resources in 1999. Burr left Landmar in late 2007 following his unsuccessful attempt to acquire the company he founded from Crescent.
6 replies
  1. George Meegan
    George Meegan says:

    What a MULLIGAN

    That is much better pricing than what the city of Palm Coast paid for the Palm Harbor course. That also means the properties around the Matanzas course now goes up a minimum of $50,000 a home, assuming they open the course up. Now Toby, who is the buyer?

  2. Golf I
    Golf I says:

    Grand Club Sale

    $2.2M for the Grand Club is a deal if the buyer is willing to put some $$$$’s into Matanzas and reopen it. I bet he’d get that investment back in a couple years. There aren’t to many people around who don’t like the layout. That was the course that prompted a ton of people to join the Grand Club back when.
    See ya! Down the middle – Golf I

  3. George Edward Chuddy
    George Edward Chuddy says:

    Matanzas Golf Course

    Hello Toby:
    Good Morning Guy.
    We don’t know if you are aware of this but when Arnold Palmer christened Matanzas Golf Course, he put the Golf Club he struck against the Clubhouse within the Clubhouse. Can you ask around since you have great love for Golf and ask to see if it is still there and can be preserved for future Palm Coast Golfers. We ask because we were there when he did it and we think it would be a great *treasure* not to lose.
    Thank you very much.

  4. George Meegan
    George Meegan says:

    Is "The Donald" the new owner?

    From what is posted on the web, it looks like we got Trumped. The bottom fisher, must have decided to become an apprentice golfer. I personally like the man. As a child his father would come to Albany, NY for the dealings with the New York state legislature. A Rolls would drop Donald off at the Palace Theatre where I would see him all dressed up in a suite and tie, looking like Dapper Dan. I would be dressed in pegged pants, babby duck cordovans(taps front and back), a leather jacket with my Lucky Strikes, and my pompadore greased down hair. I do admit dressing makes the man, as I met my now passed wife Liz there in the balcony with my classic "hey you girls" opening and climb over the seats to join her. We were together over 50 years, behaps thanks to the encounter with Donald while waiting for the ticket window to open.

  5. George Edward Chuddy
    George Edward Chuddy says:

    Meanwhile on the Links

    The Designer Dedicates Matanzas
    Arnold Palmer came to town Wednesday, November 12, and as usual, attracted an army. He cracked the traditional club against the side of Matanzas Woods Golf Club’s new clubhouse- just as he had done to dedicate Pine Lakes Country Club five years earlier. Then he teed off with 120 fellow golfers-among them local leaders, state legistlators, business people and co-designer Ed Seay- in an invitational tourney. The day ended with a reception for members and golfers on the driving range, and then Arnie was off by helicopter, flying low over the crowd. "Florida’s next great golf course," in the words of Golfweek magazine, is not officially christened by the golf legend who designed it.
    Pink Lakes New Members Lounge
    Golfers are second only to fishermen in the telling of tall tales, and therin lies the logic behind "Fibber’s," resident Jay Bell’s winning entry in Sun Sport Recreation’s ‘Name the Pine Lakes Members Lounge’ contest.
    With the closing of The Harbour Restaurant for Sheraton hotel construction, Pine Lakes Country Club restaurant-newly-remodeled and renamed ‘Champions" – opened its doors to the public last summer. Earlier this year Palm Coast Construction started work on a new members-only lounge and restaurant, due for completion this summer.
    More than 400 contest entries poured in, ranging from the lofty and spirtual – "Treetops" and "Members’ Monastery" – to the jazzy and political _"Boogie Bar" and "Bourgeois Lounge," But "Fibber’s" came out on top, and earned Pine Lakes charter member Jay Bell a $200 gift certificate.
    Palm Coast’s **three golf courses, by the way , are looking good and playing even better. Matanzas Woods and Pine Lakes were the host courses for the $ 80,000. Palm Coast Classic, A Tournamnet Players Association tour event, on February 23-March 1. ((** Our Cypress Knoll Golf Course pledged Amenity hadn’t been built yet))

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