Updated: Century Golf acquires 5 courses from GE Capital

Century Golf Partners acquired The Legends, a five-course entity in South and North Carolina in late December from GE Capital. The courses include Heathland, Moorland and Parkland in Myrtle Beach, The Heritage Club in Pawley's Island and Oyster Bay in Sunset Beach, North Carolina. Arnold Palmer Golf Management, which is owned by Century Golf, has been managing the courses since 2009. Sales terms were not released.

“We are very excited about securing ownership in these golf courses,” said Jim Hinckley, CEO & President of Century Golf Partners. “We have enjoyed managing the courses, but now look forward to establishing a long-term relationship with the Myrtle Beach community.”

Century Golf, which currently operates over 65 courses in the U.S., entered into the ownership agreement with The Contrarian Group, a private firm chaired by Peter Ueberroth.

“Peter has been a friend and mentor for a long time,” Hinckley said. “We anticipate many more golf course and private club acquisitions from this relationship with Contrarian.”

While the terms and purchase price for the courses were not disclosed, Hinckley said the courses are “highly regarded” both financially and in terms of service.

“For us its an expansion into the resort markets,” Hinckley said. “ Our team has a lot of resort experience and pairing up with Peter Ueberroth, we have a very strong team. We see great opportunity there.”

The Legends golf courses were designed by Tom Doak, P.B. Dye and Dan Maples. They have received numerous accolades including “top 100 courses in the USA,” “top 50 toughest courses in America,” and “resort course of the year.”

Century Golf's announcement follows on the heels of Arnold Palmer Management's acquisition of The Medallion Club in Westerville, OH. The management company took over the course, which features 27 holes, 5 tennis courts, an Olympic-size pool and a 58,000 square foot clubhouse, on Jan. 1. The management company will bring the “Palmer Advantage” to club members, allowing them travel benefits and access to private clubs and resorts nationwide and internationally.

“We look forward to working with the members and becoming a part of the Westerville community,” Hinckley said. “The Medallion Club is a beautiful club with a very bright future.”  

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