n Blue Hill Country Club, the 90-year-
old private club in Boston’s southern
suburbs, has completed a recapitalization
with Concert Golf Partners, the boutique owner-operator of private clubs.
The transaction, unanimously approved
by its members, pays off all club debt,
lowers annual dues by 30 percent, places
more than $2 million into immediate
capital projects at the club and bars any
future assessments on the membership.
“This partnership with Concert Golf
ends our debt challenges and ends our
long-standing internal debates about
funding capital projects with member
assessments,” said Blue Hill Country
Club President Jim Marano.
Concert Golf CEO Peter Nanula said
his team would undertake several long-deferred capital projects, including an
expanded driving range and short-game
practice area; a new 19th hole members
lounge; and renovation of the clubhouse.
Concert Golf has recently acquired
12 clubs, including longtime member-owned clubs such as West Lake Country
Club in Augusta, Ga., MacGregor
Downs Country Club in Raleigh, N.C.,
and Country Club Woodmore in
n ClubCorp continues to be active on the
acquisition front, buying a San Diego club
and selling a Florida one. The world’s larg-
est owner of courses picked up Bernardo
Heights Country Club, a 32-year-old prop-
erty in late December. It was the Dallas-
based company’s ninth acquisition in 2015.
Bernardo Heights is ClubCorp’s third
course in the San Diego region. It also owns
Morgan Run Club & Resort in Rancho
Santa Fe and Shadowridge Golf Club in
Vista. The publicly traded company is
planning major upgrades to the clubhouse
and the golf course that will include a new
outdoor patio with lounge seating and a
fire pit, new fairway bunkers, a new golf
cart fleet and new golf course amenities.
ClubCorp also sold the Legacy Golf
Club, just eight months after acquiring
the 18-year-old course in Bradenton, Fla.
Jon Whittemore, who runs Advance Golf,
acquired the course for $3.4 million in late
November. ClubCorp had acquired the
course as part of a six-course portfolio in
April. But Legacy is a daily fee course and
not a private club. Whittemore owns eight
other courses with Larry Galloway, includ-
ing two in Sarasota. Both Galloway and
Whittemore previously worked at Century
Golf Partners and ClubCorp.
n McConnell Golf acquired Holston
Hills Country Club in Knoxville, Tenn.,
its first course outside of the Carolinas.
McConnell Golf purchased the course
from the members, in late December.
The acquisition price was not disclosed.
Holston Hills, which features a 1927
Donald Ross-designed golf course, is the
11th golf club in McConnell Golf’s portfolio.
Founded in 2003, McConnell Golf has
a portfolio that includes Raleigh Country
Club and TPC at Wakefield Plantation
in Raleigh and The Reserve Golf Club in
Pawleys Island in South Carolina.
THE FRIARS HEAD GOLF CLUB in Riverhead, N. Y., won a hard-fought lawsuit against
the city regarding property taxes. The town had valued the course at roughly $30 million and the owners were paying $735,000 a year in real estate taxes. After a trial that
lasted 26 days, a state judge accepted the course’s valuation and applied a 30 percent
premium for excess land. The decision will save the owner, Traditional Links, about
$370,000 a year, and it produced a refund of almost $3 million. The appeal covered
seven years. Herman Katz Cangemi & Clyne, LLP represented the course, and Wellspeak
Dugas & Kane, provided valuation services and expert testimony.
ClubCorp, McConnell, Concert Golf