Monument Investors LLC purchased the Monument, Colo., property, planning to rename the club The Country Club at Woodmoor, while investing in upgrades to cart paths, kitchen equipment, landscaping and pool ventilation.
Monument Investors LLC has bought Monument Hill Country Club in Monument, Colo., for $1.25 million, with plans for a name change, but no other immediate alterations for the 915-member club, the Colorado Springs, Colo.-based Gazette reported.
A letter sent to members by Monument Investors said the new owners will be “rebranding” the club as “The Country Club at Woodmoor” with plans to draw “as much support and patronage for the club as we can from Woodmoor,” an unincorporated area just east of downtown Monument. Monument Investors also plans to “invest in immediate capital improvements to restore and upgrade facilities,” including work to cart paths, steps, landscaping, carpeting, paint, kitchen equipment and pool ventilation, the Gazette reported.
The bank foreclosed on the property in 2013 on a $4.3 million loan used by the previous owners of the club to acquire the 151-acre property, which has had two other foreclosures filed against previous owners since 2002. Monument Investors was set up by Virginia Duncan, an executive for Greenwood Village real estate and development company SouthWestern Investment Advisors Inc., the Gazette reported.
Armen Suny, a partner in Monument Investors and longtime club member and Woodmoor resident, said Friday the group has “capital project in front of us that will be substantial improvements and will take care of a lot of the deferred maintenance” on the club facilities. “We want to make this a showplace. The club needs some love and attention and we plan to do that. We want the club to become a vibrant center of the community.”
Suny and Ken Limes, another partner in Monument Investors, both have long histories in the golf business and worked together at the historic Cherry Hills Country Club, where three PGA Championships have been held, the Gazette reported.
Suny spent much of his career as a General Manager and Superintendent at well-known country clubs, including Castle Pines Golf Club in Castle Rock and Shadow Creek Golf Course in Las Vegas. Limes also was the club professional at Columbine Country Club in Littleton, the Gazette reported.
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