Toll Brothers putts Jupiter golf course over to ClubCorp for $8M

The deal includes an 18-hole Greg Norman Signature golf course

Nov.November 12, 2019 03:30 PM
Toll Brothers CEO Douglas C. Yearley, Jr. and Jupiter Country Club

Toll Brothers CEO Douglas C. Yearley, Jr. and Jupiter Country Club

Toll Brothers sliced a deal for its golf course and private club at Jupiter Country Club to ClubCorp for $8 million, after selling out its residential community.

ClubCorp purchased the club with an 18-hole Greg Norman Signature golf course as part of an acquisition of seven golf clubs in Toll Brothers communities, according to a press release. The acquisition included three golf resorts in Virginia, three in North Carolina, and one in Maryland.

Jupiter Country Club, at 300 Marsala Court, also includes a swim and racquet facility, a pool, tennis courts, and a cafe.

Toll Brothers previously sold all the homes at the country club, according to a spokesperson.

Dallas-based ClubCorp owns or operates a portfolio of more than 200 golf and country clubs, city clubs, sports clubs, and stadium clubs in 27 states, Washington, D.C. and internationally, with over 430,000 members.

South Florida has long been a haven for golfers and golf communities, but as the sport’s popularity and the supply of available land dwindles, home builders have increasingly targeted golf courses.

In October, the Pulte Group paid $31 million for the former Oak Tree Golf Course at Oakland Park to build over 400 homes. Last year, Lennar revealed plans for 415 single-family homes and townhomes on the site of the former Crystal Lake Golf Club.

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