The management company has been a longtime partner to the Southport, N.C. community, managing its 81 holes of golf and four distinct club facilities for the past 12 years. The ownership transition is scheduled to take effect February 1.
The owning families of St. James Plantation have reached an agreement with Troon to sell The Clubs at St. James Plantation in Southport, N.C., according to an announcement made on January 9, the Greater Wilmington (N.C.) Business Journal reported.
The sale to Troon, which has managed The Clubs on behalf of the developer for the past 12 years, includes the property’s golf courses, clubhouses and sports clubs at the Reserve, Founders, Members and Players Club facilities, for an amount that was not disclosed in the announcement, the Business Journal reported.
Troon has been a longtime partner to the community, managing The Clubs on behalf of the developer for the past 12 years. The ownership transition is scheduled to take effect February 1, the Business Journal reported.
C&RB featured St. James Plantation as its November 2007 cover story (http://clubandresortbusiness.com/2007/11/how-st-james-plantaton-makes-81-holes-and-four-clubs-work-as-one/)
The sale comes at a natural time for the family-owned business as St. James Plantation, which was founded by Homer Wright, is entering its final phases of development, the owners said in the sale announcement.
Opened in 1991, St. James Plantation is home to more than 4,500 property owners on 6,000 acres that includes 81 holes of championship golf, a private beach club, and a full-service marina among other amenities, the Business Journal reported. St. James was incorporated as a town in 1999 and has its own mayor, Fire Department, EMS, and Property Owners Association.
The transition of The Clubs to a known partner with successful elite club management helps “ensure the long-term sustainability of the facilities and continued excellence of the member experience,” the announcement said.
“Our intention throughout this process was to find a buyer with a focus on the members and on the long-term sustainability and success of The Clubs, and we found that with Troon,” said Jay Atkinson, a representative of the St. James Plantation developers.
Troon “recognizes ongoing growth opportunities for The Clubs because of its long-standing relationship with St. James, and we are confident they will continue to provide their first-rate service to our members for years to come,” Atkinson added.
“We have a long history of success working with The Clubs at St. James, and we welcome the opportunity to continue in that role as we become stewards of this great legacy,” said Bruce Glasco, Chief Operating Officer of Troon. “The Clubs, members, residents and associates at St. James are all very special, and we couldn’t be more pleased to continue our decade-plus relationship of operating this amazing club.”
As part of the sale agreement, Troon will also continue to operate Tommy Thompson’s, the property’s popular Marina food-and-beverage facility.
Troon will continue to manage The Clubs at St. James Plantation under its Troon Privé division.