A distressed golf club in Hanover County will likely get a new owner, but the current owners and potential acquirers are having trouble coming to an initial offer. That “asset purchase agreement” will kick off an auction process, and the bankruptcy judge wants one today. Plus, RBS learns what developer Bob Atack may want with the property.
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More interest in troubled golf course
A distressed golf club in Hanover County has suitors beyond the members who have offered to pay $2 million for the course – which cost closer to $8 million to build – including a local real estate developer.
Course glut is good for golfers
Private golf clubs across Richmond are rolling out the red carpet for new members, lowering or eliminating initiation fees and discounting food at the clubhouse. Plus, one of the only courses with caddies pays down its debt.
Bank makes play to take over golf course
The biggest lender to an upscale golf course in Hanover County wants to take the course back from the owners/operators.