Porcupine Creek, which sold for $42.9m, will get no commercial play

Larry Ellison, who bought Porcupine Creek Golf Course in late January for $42.9 million, plans to only allow invited guests to play the Rancho Mirage, Calif. course.

Porcupine Creek’s operating contract spells out clearly that the course cannot be used commercially. Residents on the winding road leading to the property have also made it clear they do not want to deal with any traffic that might be generated by its use as a public or private course. The likely long and contentious fight over any change to the operating agreement may be too much for even Ellison to suffer with. The property covers a total of 249 acres and includes an 18,430 s.f. home, amphitheater and eight two-bedroom guest houses, as well as the 19-hole golf course.

Porcupine Creek originally listed at $75 million when it first hit the market early last year. The price fell to $55M before Ellison made his offer. Lawrence Investments LLC, Ellison’s personal investment entity, made the offer for the property. The property became available as part of a divorce proceeding between Tim and Edra Blixseth and subsequent bankruptcy proceedings. The Blixseths had ties to the timber industry and at one time an estimated net worth of $2 billion. Edra Blixseth owned the course at the time of the sale.

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