The Sugar Land subsidiary of a Hong Kong-based golf-course manager is trying to sell its U.S. portfolio.
C-Bons International Golf Group Management seeks a buyer for 20 private clubs and golf courses, 13 of which are located in the Lone Star state, the Houston Business Journal reported.
The Texas clubs include Pecan Grove Country Club in Richmond, Southwyck Golf Club in Pearland, Sweetwater Country Club in Sugar Land, Tour 18 Golf Course in Humble, Walden on Lake Houston in Humble, Willow Fork Country Club in Katy, Berry Creek Country Club in Georgetown, Eldorado Country Club in McKinney, Ridgeview Ranch Golf Club in Plano, Riverchase Golf Club in Coppell, Silverhorn Golf Club in San Antonio, The Club at Sonterra in San Antonio and Thorntree Country Club in DeSoto.
“At this time, with the state of the industry at its highest point in decades, we feel that now is the time to divest these clubs to another ownership or investment group,” Randy Jones, CBIGG senior vice president and COO, wrote in a letter to club members.
CBIGG is selling the 13 Texas properties as a single portfolio with two courses in Arizona and one in Nevada. Jones said the company expects to complete the sale and transfer ownership by September.
The company owns four additional properties in the Northeast United States that it plans to sell separately.
“We anticipate a lot of interest from groups that currently own and operate other clubs throughout the country. We’ll also no doubt see some considerable interest from private equity-backed investors who are interested in the golf, leisure and lifestyle space,” Jones told the outlet.
Last month, a joint venture between Century Golf Partners and HKI Americas took ownership of the Four Seasons Golf and Sports Club in Las Colinas.
Read more
Development
Austin
2,200-acre master-planned development eyed on outskirts of Austin
— Victoria Pruitt