The Bloomfield Hills, Mich. club rejected a proposed sale of the club to homebuilder Toll Bros. Board President Creighton Forester declined to reveal the proposed purchase price and how many votes were cast for and against the sale.
Equity members of Forest Lake Country Club in Bloomfield Hills, Mich. have rejected the proposed sale of the club to Toll Bros., Crain’s Detroit Business reported. Creighton Forester, Board President, said September 29 that the 94-year-old club’s equity membership voted against “the outright sale” of the 104-acre property to the homebuilder.
He declined to reveal the proposed purchase price and how many votes were cast for and against the sale, Crain’s Detroit Business reported. A majority of the equity members would have had to approve.
There are more than 300 total members; the club is capped at 325 equity members, Crain’s Detroit Business reported. There are currently seven membership categories: equity golf membership; non-equity golf membership; non-equity social membership; legacy membership; intermediate membership; premier corporate membership; and social corporate membership, according to the Forest Lake website.
Forester said earlier this month that St. Louis, Mo.-based golf club consulting firm McMahon Group was hired to survey the Forest Lake Country Club membership and develop a plan to modernize the club, Crain’s Detroit Business reported. In 2009, the club had considered a merger with the Detroit Athletic Club, although that deal never finalized. Six years later, another merger with Plum Hollow Country Club in Southfield, Mich. was considered, but also never finalized.