Golf Legendary Run Ohio LLC has purchased the public golf club, located in the greater Cincinnati area. The property will now be part of the Advance Golf Partners portfolio. While terms of the sale were not disclosed, the 196-acre golf course and the business were listed for $2.4 million.
Legendary Run Golf Course, a 196-acre facility located in Pierce Township near Cincinnati, has been sold to Golf Legendary Run Ohio LLC.
According to the Cincinnati Business Courier, terms of the sale were not released. The facility had been offered for $2.4 million when listed at the beginning of the year by Golf Property Analysts (http://clubandresortbusiness.com/2018/01/legendary-run-gc-put-market-2-4m/).
The new buyer, Golf Legendary Run Ohio LLC is headed by Jamie Miller and Larry Galloway, who also operate Glen Oaks Country Club in Louisville, Ky. Galloway is also a partner in Advance Golf Partners, a management firm that will now add Legendary Run as the 10thcourse in its portfolio.
A public course, Legendary Run has a USGA course rating of 73.4. The yardage is 6,920 and par is 72. Greens fees range from $29 to $54, according to the Business Courier.
The club features an 18-hole championship golf course designed by Arthur Hills; an 8,000-sq.-ft. clubhouse with a banquet area with capacity for more than 200 people; a 5,000-sq.-ft. cart storage facility; a practice area with short game and putting greens, and a 6,000-sq.-ft. golf course maintenance facility.
Miller told the Business Courier that he wrote a letter of intent on the way back from walking through the property with previous owner Mike McCaw, the CEO of BelFlex Staffing Network who developed the property through McCaw Investments Ltd. more than two decades ago.
“It’s such a perfect course,” Miller told the publication.
McCaw said the course can grow with a more “hands on” management approach, as well as focused marketing efforts.
“More ownership presence will help build customer relationships and provide an improved attention to the daily details of providing an exceptional customer experience,” McCaw said in a press release. “We also believe there is an opportunity to market the course more effectively, starting with our existing customers.”
According to the Business Courier, Advance Golf Partners uses a formula of about 50 different criteria when it considers a course for acquisition, and Miller noted that the demographics, rounds played and household income all fit the company’s metrics.
However, as a course that is already making money and is well maintained, it is different from most projects that the company, which often purchases properties that need attention, picks up, the Business Courier noted.
Potential changes that could be made under the new ownership could include expanding the club’s golf package options, as well as afternoon practice-play programs that appeal to busy golfers. And the club’s food-and-beverage operation could also be prime candidates for expansion at some point, according to the Business Courier.
Larry Hirsh, president of Golf Property Analysts, told the Business Courier that the sale will be a benefit for the facility, noting that the new ownership has a lot of experience in the golf industry.
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