Shadow Wood Country Club and the Country Club at The Brooks, both in Bonita Springs, Fla., will be sold to members by the Bonita Bay Club and its lenders, according to a post on the Shadow Wood Country Club Members’ Board blog.
According to The News-Press, the deal announced on the blog is for $8.3 million, plus waivers of deposit refund liability from members joining the new clubs. According to the Shadow Wood Board’s blog, that club’s members will be responsible for posting $4 million, and the deal will include the sales center.
The clubs will continue to operate separately, the post said.
Shadow Wood members will be offered membership in the new club with payment of non-refundable conversion fees and a waiver of deposit liability. The fees would be $5,000 for golf, $3,500 for sports, $1,000 for tennis and $500 for a social membership.
The deal would involve two of seven clubs at five Bonita Bay Group communities in Southwest Florida.