Palm 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