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Concert Golf Partners buys Emerald Greens golf club


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  • | 7:10 a.m. June 21, 2013
  • Commercial Real Estate
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BUYER: Concert Carrollwood LLC (FC Golf GP LLC), Newport Coast, Calif.
SELLER: CCP Emerald Green LLC
PROPERTY: 13903 Clubhouse Drive, Tampa
PRICE: $6 million
PREVIOUS PRICE: $3.75 million, September 2003
LAW FIRM ON DEED: Bryan Sykes Esq., Tampa

PLANS, DESCRIPTION: Newport Beach, Calif.-based Concert Golf Partners purchased the 27-hole, 36.16-acre Emerald Greens Golf Resort & Countr y Club for $6 million.

The price equated to $165,929 per acre.

The Emerald Greens golf property includes a double-sided driving range and two putting and chipping greens. The site also includes eight Har-Tru tennis courts, a heated junior Olympic-size swimming pool, fitness center and 25,000-square-foot clubhouse.

The club was created in the early '70s as Carrollwood Village Golf & Country Club. The course was completely rebuilt from 2003 to 2005 by the Dan Maples Golf Design Co.

The purchase did not include an adjacent 50-room resort hotel.

“It's a fantastic golf course,” says Peter Nanula, chairman of Concert Golf Partners. “We've been in discussions to buy the club for more than a year. Its membership has been growing. It's a club on the rise.”

The new owner is already installing Champion Bermuda greens on all of the private club's holes, which Nanula says vastly improves the putting surface.

He says Concert Golf Partners chooses to target clubs with a full set of amenities.

“The number of rounds of golf may go up or down from year to year, but the lifestyle of a full-featured club continues to be attractive,” Nanula says.

The club's seller, CCP Emerald Green LLC, took ownership of the property through a foreclosure in July 2011.

Concert Golf Partners currently owns three other golf course properties: Heathrow Country Club in Orlando, Golf Club of Amelia Island in Amelia Island and the Country Club at Woodmore in Washington, D.C.

New owner Concert Carrollwood LLC mortgaged the property to Bay Cities Carrollwood LLC for $1.5 million.

 

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