Jay Craig, a partner in Appliedgolf Management, acquired Hickory Ridge Country Club at a foreclosure auction for slightly more than $1 million. Hickory Ridge is a semi-private 18-hole course in Amherst, Mass. that sold in 2003 for $3.5 million. It sits on 150 acres and includes a restaurant, banquet facility and pro shop. Craig did not bid on the equipment, which sold for $75,000.
Craig said he had been negotiating with the previous owner, Douglas Harper, for more than two years on a potential sale of the course, but wasn’t able to make a deal prior to the bank foreclosing on the property.
The course was built in 1969, and designed by Bill Robinson and Geoffrey Cornish, who died in February.
Craig, who owns three other courses, hopes to re-open Hickory Ridge in mid-April. Annual membership rates last year had been $2,595 for families and $1,725 for singles.
Appliedgolf is based in Millstone Township, N.J. and manages 13 golf courses.