World Capital Market, Inc., an entity led by Xu Ming, has acquired its second golf property in California.
In August, the merchant banking firm reportedly paid $6.5 million for Golf Club at Glen Ivy in Corona. A month later, it bought Links at Summerly, an 18-hole, Cal Olson-designed track in Lake Elsinore. The latter is part of a 1,481-acre community that’s being developed by McMillin Companies, the seller.
WCM says that it has a presence in Beijing, Shanghai and four U.S. cities, Los Angeles among them. Xu (everyone calls him “Phil”) describes himself as “a serial successful technology entrepreneur,” a philanthropist and an ordained minister with 30,000 followers.