Greenberg Glusker lawyers are among the most experienced in the country in advising clients and negotiating on their behalf in the sales, acquisitions, leases, workouts, member disputes and litigation with respect to golf courses located throughout the United States.
- Represented American Golf in the sale of Arrowhead Golf Club to the Florida Department of Transportation; the transaction was very challenging in having to structure and close a commercial transaction with a state agency that generally obtains real estate through condemnation
- Retained by Los Angeles Country Club to advise on the design and construction of the Club's golf course restoration project; the project entails the complete restoration of the Club's North Course
- Representing American Golf Corporation in the Request for Proposals (RFP) process regarding Westchester Golf Course near Los Angeles International Airport; along with Greenberg Glusker's Business Group, we advised AGC on entity formations and deal structure. If AGC is successful in being awarded the bid, we will negotiate the lease with the City of Los Angeles and advise on all aspects of the golf course restoration project
- Negotiated loan modification agreements on behalf of the owners of golf courses in San Diego County and Northern Nevada. The transactions, among other things, resulted in the extension of the maturity date of the loans; the reduction of the interest rate of the loans; and the conversion of the required interest payments to a portion of net cash flow, with the balance of interest payments deferred until the extended maturity dates
- Represented Sequoia/Canongate in managing Textron's golf course REO
- Represented American Golf Corporation in the 2007 sale of the Las Vegas National Golf Club. The nearly $40 million, all cash sale price is one of the highest values achieved for a daily fee golf facility in the United States. The buyer was a consortium of local developers and the Bank of Phoenix provided the debt financing
- Represented Joe Guerra, former CEO of American Golf Corporation, in the formation of a joint venture with Boston-based Parthenon Capital. We represented the joint venture, Sequoia/Canongate Golf, in its subsequent acquisition of over 26 golf courses, including its acquisition of "The Woodlands" in Houston, Texas, one of the golf industry’s largest transactions completed in 2007. The resort includes five golf courses, restaurants and hotel facilities
- Represented American Golf Corporation in the sale to CNL and Eagle of a portfolio with 42 golf courses located in eight states throughout the United States
- Represented American Golf Corporation in the sale to Century Golf/Walton Street of its Texas assets and operating group which included 16 golf facilities
For more information, please contact Steven J. Lurie.