The Vero Beach, Fla. club had operated under ownership by Wells Fargo bank for seven years. Mark White, who heads the Massachusetts-based investor group, said Luna Golf will now make additional investments both on and off the golf course.
After seven years of ownership and operation by Wells Fargo Bank, Pointe West Country Club (PWCC) in Vero Beach, Fla. has been sold to Luna Golf, LLC, an investor group led by Mark White.
PWCC serves the middle private-club market, providing a golf lifestyle for the Pointe West Community and surrounding communities. Its golf course, designed by John Sanford, was developed in 1999. It participates in the Palmer Advantage® club network.
Luna Golf, a Massachusetts LLC, completed the purchase of PWCC on November 1, 2019, after several months of due diligence and negotiation.
“PWCC is a terrific opportunity for Luna Golf to enter the Vero Beach golf market with an already enthusiastic membership and solid golf venue,” said White, who noted that Luna Golf would make additional investments in the club, both on and off the golf course.
“The existing membership has been very supportive of the club, despite the uncertainty of being bank-owned for an extended period of time,” White added.
“Luna Golf hopes to eliminate that uncertainty and reach out to other groups that might find PWCC a great private-club value.”