A trio of Texas investors with backgrounds in country club governance purchased the Lebanon, Tenn. club for a yet-to-be-announced amount. The property features an 18-hole course, 21,000-sq.-ft. clubhouse, swimming pool and tennis court.
A group of Texas investors has bought Five Oaks Golf and Country Club in Lebanon, Tenn., the Nashville Business Journal reported. CDA Five Oaks LLC announced the purchase this week, which marks the first time the country club has changed ownership since it opened in 2001. Terms of the deal were not disclosed; a deed recording the sale wasn’t available as of July 11.
The three lead investors in the purchase have backgrounds in country club governance, the Business Journal reported. Rob Doby, an attorney and Vanderbilt graduate, formerly served as president of Colonial Country Club in Fort Worth, Texas. John Cochran operates an interior design and architectural firm that serves country clubs in the western United States. Rich Hopwood is a real estate developer in the Dallas and Fort Worth areas. Cochran and Hopwood serve on Colonial’s board of directors.
The investors were attracted to Five Oaks because of Middle Tennessee’s strong economy, the growth of Wilson County and the club’s close proximity to Nashville, a press release stated.
Five Oaks occupies more than 500 acres. It features an 18-hole course, a 21,000-sq.-ft. clubhouse, a swimming pool and a tennis court, the Business Journal reported. There is also a 275-home residential development, 300 rental homes and 300 condominiums that are either built or under construction.
The course was formerly owned by The Farm LLC, an investment group based in Wilson County, the Business Journal reported. The Farm will retain ownership of 50 undeveloped residential lots on the property, according to the release.