Two parties—the Red Hawk Run Community Association and an unnamed buyer—will acquire the 20-year-old Findlay, Ohio club that features an Arthur Hills-designed golf course. A search will now be conducted to find “an acceptable operator” for “a healthy, vibrant golf course and a successful community adjacent to it,” the association’s Board President said.
Red Hawk Run Golf Club, about two miles east of Findlay, Ohio is being sold to two buyers, The Courier of Findlay reported, citing a report from Nickolas Asset Management.
Red Hawk Run GC, established in 1999, is an upscale, semi-private property with an Arthur Hills-designed 18-hole, par 72, golf course with five sets of tees and lengths ranging from 7,400 to 5,000 yards. The course features bentgrass tees, fairways, challenging water features, and greens built according to USGA specifications. The property also has a practice area with a driving range of over eight acres with bentgrass tees, and target greens framed with sand bunkers.
One of the two reported buyers of the club, the Red Hawk Run Community Association (RHRCA), representing about 90 residential lots, is buying about 130 acres and three commercial structures on the golf course’s east side, The Courier reported. And an undisclosed party is buying 90 acres on the western side along with the clubhouse and pavilion, according to Nickolas Asset Management.
The sale prices for the transactions were not disclosed.
The two purchasers are working together to secure an operator for the club before spring, said David Baker, President of the RHRCA Board of Trustees.
“We are actively discussing options and are making a concerted effort with the other party to find an acceptable operator,” Baker said. “We want the exact same outcome: a healthy, vibrant golf course and a successful community adjacent to it.”
Nick Reinhart, owner of Nickolas Asset Management, said he is hopeful the transactions will be a win for everybody, The Courier reported.
“The sale of these assets that are directly adjacent to the community offers current and future homeowner stability, control and security going forward,” Reinhart said. “The community’s decision to acquire the land and structures so close to their homes shows they are forward-thinking and willing to act decisively to protect and grow the investment their homeowners have made. We couldn’t be happier with this outcome.”
The community association is also pleased with how the transaction has taken shape, Baker said.
“Mr. Reinhart and his team have been open to our ideas, as well as our shifting plans and timelines, as we worked toward developing an agreement and asking our community to approve the acquisition,” he said. “As a community, we thank them for their tireless effort, fairness in negotiations and patience as we worked through our process.”
Reinhart cited a significant drop in interest in golf as a reason for the sale, The Courier reported. “Overall, the number of rounds played over the past 20 years have declined steadily,” he said. “This is not unique to Red Hawk or our area, but a trend seen across the country and around the world. The number of courses continues to shrink, as supply adjusts to the reduced demand.”
In addition to the sale of the golf course property and the commercial buildings to the RHRCA, Reinhart gave a residential lot he owns in the neighborhood for a park, and has committed $10,000 of the sale proceeds for park equipment and land preparation, The Courier reported. The community reportedly plans to name the site the “Terry Reinhart Memorial Park” in honor of Reinhart’s father, who died two years ago.