Kula Golf buys Ballyhack in Virginia

Kula Golf, a Lincoln, Nebraska-based group that owns Sutton Bay Golf Club in Agar, South Dakota and ArborLinks Golf Club in Nebraska City, Nebraska, has acquired Ballyhack Golf Club, Lester George’s pièce de résistance in Roanoke, Virginia. 

Kula is a Nebraska-based golf real estate investment company with focus on the ownership of premium and exclusive private clubs. Kula’s majority owner is an entity owned by the Peed family from Lincoln, Nebraska.

Since it opened, in 2009, Ballyhack has been a critical success but a financial under-performer. It had pegged its finances to membership sales — 60 local members, 200 national members — but its projections didn’t materialize. A spokesperson for the property’s management company told the Roanoke Times that the club has “pretty much capped out” in terms of local members and is “looking to find more regional or national members.” The Peeds, who are primarily cattle ranchers, are building a nice golf portfolio. They also own Sutton Bay Golf Club in Agar, South Dakota and ArborLinks Golf Club in Nebraska City, Nebraska.

The Peed family has invested significant proceeds from their publishing and livestock operations into land holdings.  “After visiting Ballyhack late last year, we knew it was a special place,” said Zach Peed, Manager of Kula Golf, LLC. “Our goal is to enhance and improve the already great golf experience at Ballyhack for our members and their guests. We are excited about the opportunity and look forward to being a part of the Roanoke community for many years to come.” Kula expects to continue the exclusive private club concept.The sale also included 40 unsold residential lots in “The Estates at Ballyhack” and “The Clubhouse Villas”, two residential neighborhoods that border the golf club property. Landscapes Management Company, a division of Landscapes Unlimited, has been engaged by Kula to provide ongoing management services, assistance and club oversight. The current management staff, led by General Manager, Joe Zaleski, will stay intact and will work diligently to continue club operations seamlessly. — Robert Vasilak contributed to this report.

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