A brand new flock is taking up Ptarmigan Nation Membership.
The membership exterior Fort Collins was bought this month by Heritage Golf Group, a Virginia-based operator that expanded into Colorado two years in the past. Information present the corporate paid $6.1 million for the land.
Heritage now owns 39 personal or semi-private programs throughout the nation, together with The Golf Membership at Bear Dance in Larkspur, Plum Creek Golf Membership in Citadel Rock and Colorado Nationwide Golf Membership in Erie. It purchased these three golf equipment in 2022.
It purchased the personal membership at 5416 Vardon Method from Ryan Flack, whose household owned and operated it for greater than 20 years.
“It was long-term relationship and the timing was proper. We’re very grateful that they chose us,” stated Heritage Chief Acquisition Officer Scott McMartin, who has recognized Flack since he began working the membership.
Ptarmigan, which opened in 1987, options an 18-hole course designed by golf legend Jack Nicklaus. It additionally has a swimming pool, racquet courts and a clubhouse.
Ron Flack, Ryan’s dad, purchased it in 2004 for $4.8 million, data present. He and his son revamped a number of components of the clubhouse throughout their tenure, in keeping with the Ptarmigan web site.
The older Flack died this previous summer season, partially resulting in the sale, McMartin stated. Ryan Flack didn’t reply to a request for remark.
“It was a mixture of excessive consolation stage with Heritage, the proper value and the timing with the household. It was simply an opportunistic scenario,” McMartin stated of Flack’s resolution to promote.
McMartin stated Heritage will enhance a number of points of the membership, which is already underway with the clubhouse. Whereas the course is in fine condition, his crew is evaluating whether or not to provide some bunkers a face-lift.
“As soon as we purchase a property, we go in fairly large with capital,” McMartin stated. “We don’t prefer to stretch it out over years.”
He stated Heritage has been trying to increase into Fort Collins due to its rising inhabitants and it being a college city. Ptarmigan additionally match McMartin’s standards relating to a brand new membership: personal with full facilities in a residential space. He stated the corporate additionally likes to focus on legacy family-owned golf equipment that need a reliable exit.
McMartin stated Heritage is underneath contract to purchase two extra golf equipment within the japanese U.S and concerned about shopping for extra golf equipment alongside Colorado’s Entrance Vary.
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