Grand Haven Golf Club Gets Second Look by Interested Buyer

Visitors and a helicopter were evident at Grand Haven recently

Grand Haven Golf Course Signature 8th HolePalm Coast, FL – July 25, 2010 – A potential buyer for the Grand Haven Golf Club in Palm Coast, FL reportedly made a second visit to the Palm Coast facility last week. Course maintenance experts were reportedly included in the visiting group. A helicopter was also present for an aerial inspection. One club member tells me that he thought the visitor might have been Club Corp.
Update: 7-26 3:15 p.m.: The same group of visitors was seen at Pine Lakes the day before.
The Grand Haven golf course and clubhouse, along with the three courses of The Grand Club are part of Crescent Resources affiliates. Crescent exited Chapter 11 bankruptcy in June. Insiders report that Crescent plans to exit the Florida market.
The sale of the Southern Hills and River Hall golf communities has already been announced. The buyer is Greenpointe, founded by Ed Burr who also founded LandMar Group, Crescent’s primary Florida developer. Burr left Crescent when he was unable to work out a deal to buy LandMar back. Crescent properties are listed by Jess Simmons of CB Richard Ellis, Jacksonville. Among Simmon’s listings are:
  • 43.28-Acre commercial parcel on Colbert Lane in Palm Coast listed for $2.75 million
  • 5.18—Acre commercial parcel on Colbert Lane listed for $450 thousand
  • Grand Landings, 800-acre planned community with 660 entitled lots and two commercial tracts located south of the Flagler County Airport listed for $5 million
  • North Hampton, Fernandina Beach, FL – Master planned community offering 25 lots and an 18-hole golf course for $4.28 million
  • Osprey Cove, Saint Marys, GA – Master planned community offering 168 lots and an 18-hole golf course for $7.9 million
2 replies
  1. Toby
    Toby says:

    Reply to Bob

    Unfortunately, you could buy an existing course for less than the cost of rehabilitating Matanzas. I don’t expect to see a change in golf economics any time soon. Matanzas is a long shot.

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply