BUYER: A Fortune Tellers Dream LLC, Nicholasville, Ky.
SELLER: Copperhead Golf Management Inc.
PROPERTY: 20910 Copperhead Drive, Lehigh Acres
PRICE: $1.5 million
PREPARED ON DEED: Federal Deposit Insurance Corp., Dallas
PLANS, DESCRIPTION: Tom Fowler of Lehigh Acres and Allen Collins and Bobby Rankin of Kentucky purchased the Copperhead Golf Club for $1.5 million.
The investors, who have been principally buying single-family homes in the area, bought the 18-hole course, maintenance and equipment buildings and clubhouse. They also acquired 10 houses surrounding the course in a separate transaction.
“One of the gentlemen in the partnership owned a course in Kentucky and knew the business,” Fowler says. “It's in pretty decent condition. Fourteen of the holes are in great condition. The other four holes need some work.”
The partners have already started evaluating how to improve the club.