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Clublink buys WCI golf courses

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  • | 3:33 p.m. September 24, 2010
  • Commercial Real Estate
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BUYER: Clublink US Corp. (principals: Beverly Flynn, Robert Visentin and Edge Caravaggio), Ontario, Canada

SELLER: WCI Communities LLC

PROPERTY: Caloosa Golf Course, Scepter Golf Course, Renaissance parcel, Renaissance maintenance facility, clubhouse, cart path tracts, Falcon Watch Golf Course, maintenance parcel and clubhouse, Sandpiper 1 and 2, North Lakes Golf Course, Sun City North Course, Kings Point Executive Golf Club, Sun City Center and various other parcels, Sun City Center

PRICE: $8.7 million

LAW FIRM ON DEED: Carlton Fields PA, Tampa

PLANS, DESCRIPTION: ClubLink US Corp. purchased eight golf courses and associated facilities in Sun City from WCI Communities for $8.7 million.

The price equated to $1.09 million per course.

The buyer is the U.S. arm of ClubLink, Canada's largest owner and operator of member golf courses. It purchased four operating championship golf courses: the 18-hole Club Renaissance; the 27-hole Falcon Watch Golf Club; the 27-hole Sandpiper Golf Course; and 18-hole Scepter Golf Club. The purchases also include two 18-hole executive-length courses: Kings Point Golf Club and Caloosa Greens Golf Club. A two-acre vacant commercial parcel was also part of the sale.

The acquisitions marked ClubLink Corp.'s first purchase in the United States.

Steven Ekovich of the National Golf and Resort Properties Group at Marcus & Millichap Real Estate Investment Services facilitated the cash transaction.

“We are pleased to announce that the Sun City Center portfolio represents our first regional cluster in the United States,” ClubLink President and CEO Rai Sahi says in a press release. “This acquisition establishes a firm foothold in Florida for us, and we are actively pursuing other opportunities on both sides of the border.”

WCI Communities attributed the sale to ClubLink's reputation and ability to run courses effectively.

ClubLink now operates more than 45 golf courses in Ontario, Quebec and Florida. ClubLink also has rail, tourism and port operations based in Skagway, Alaska, which it operates under the White Pass & Yukon Route trade name.



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