ClubCorp has made an offer to purchase ArrowCreek Country Club from its present owner, Terrabrook. The majority of country club members support the transfer of ownership. One issue that has hindered the negotiation is a lawsuit filed by 14 country club members attempting to block any sale. It appears that this issue has been resolved, and that ClubCorp will move ahead with the purchase. They are estimating a 60 day period to finalize it.
A major benefit for ArrowCreek golf club members is the opportunity to use other ClubCorp facilities paying only cart fees (for a small monthly fee). They have some fabulous locations such as Hilton Head in South Carolina and Barton Creek in Austin, Texas. This transaction should have a positive effect on real estate values and sales within the ArrowCreek community.
January 28th, 2008 at 8:20 pm
[…] gave an update on this topic in late November. (see http://renofinehomesblog.com/2007/11/25/clubcorp-purchase-of-arrowcreek-country-club-moves-forward/) I stated that the main issue holding up this deal was a lawsuit filed by 14 of the country […]
January 28th, 2008 at 8:20 pm
[…] gave an update on this topic in late November. (see http://renofinehomesblog.com/2007/11/25/clubcorp-purchase-of-arrowcreek-country-club-moves-forward/) I stated that the main issue holding up this deal was a lawsuit filed by 14 of the country […]