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Coastal Cloud Founders Buy Former Players Club

Tim and Sara Hale purchase the former Players Club in Palm Coast for $2.5M

By Toby Tobin
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PALM COAST, FL – April 14, 2020 – Coastal Cloud founders, Tim and Sara Hale, have purchased the former Players Club in Palm Coast for $2.5 million. The transaction, which closed March 27, was recorded yesterday. The purchaser of record is Coastal Cloud Properties LLC. The seller is JOCO Financial LLC and The Lending House Inc.

The Players Club tennis complex opened in 1986, joining the Palm Harbor Golf Club as the heart of Palm Coast recreation. Boasting 18 hard, clay, and grass courts in its prime, The Players Club attracted top-notch players and hosted several celebrity exhibitions and professional tournaments.

The Players Club was already struggling when it was purchased by European Village LLC (AKA  Peter Roehr) in 2003. It was subsequently transferred to EV R&R Holdings LLC (also AKA Peter Roehr) on December 22, 2005. On that same day, a mortgage on the property in the amount of $4,000,000 was recorded by Mandela Holdings LLC and Lending House. The mortgage holders acquired the property through foreclosure September 13, 2007, after the indebtedness had grown to $5,000,000 as a result of unpaid interest, late fees, and penalties, The 13.44-acre property and improvements were assessed for $2,877,450 at the time of the foreclosure sale.

The Players Club property is unique. It has several beautiful old specimen oaks and is wonderfully position next to European Village and near the marina. The Hales have long been attracted to this property’s location and its beauty, but the price had always been too high. While they have no immediate development plans, it is likely that they will incorporate a future Coastal Cloud headquarters within the complex. “We want to incorporate whatever we do into the natural beauty of the property and preserve the magnificent oaks,” says Tim Hale.

The  Players Club is as fine a property as you can find in Palm Coast. I am very pleased that it has fallen into good hands with Tim and Sara. They will treat it well.

PLAYERS CLUB 2005

Players Club in Palm Coast 2005 - Google Earth


PLAYERS CLUB 2019

Players Club in Palm Coast 2019 - Google Earth


Toby Tobin: REALTOR®, SRES®

I'm a licensed Florida REALTOR®, SRES®, affiliated with Grand Living Realty in Palm Coast, Fla. As a real estate consultant to developers/builders, and as a journalist, I have years of experience and a treasure trove of relevant data and local knowledge. I help developers, builders, homebuyers, and sellers achieve improved fact-based outcomes.

Call me at (386) 931-7124 or email me at Toby@GoToby.com.

Listen to my radio show, Real Estate Mattersevery Saturday morning right after the 11:00 A.M. news break on WNZF News Radio 1550 AM or 94.9 FM. Download the Flagler Radio App from the App Store so you can hear Real Estate Matters from anywhere in the world.

reader comments
Thanks
Posted by Barbara S Varty
Apr 15, 2020, 12:34 am
Toby, your articles are always very welcome & well researched. Thank you for your invaluable service.

 
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Don "Toby" Tobin is a licensed real estate professional affiliated with Grand Living Realty. Toby is a member of the Flagler County Association of Realtors®, the Florida Association of Realtors, Enterprise Flagler, Flagler Home Builders Association, and the National Association of Realtors.

GoToby.com proivdes real estate news, commentary, and analysis for Palm Coast and Flagler Country Florida, as well as Realtor® referrals and consultation to buyers, sellers, and developers.