Florida group pays $12.5M for Glen Oaks country club, golf course
KATHY A. BOLTEN Jan 12, 2022 | 9:33 pm
2 min read time397 wordsAll Latest News, Real Estate & Development
The Florida group that purchased Glen Oaks Country Club and its championship golf course paid $12.5 million for the property, which includes 145 acres and a two-story clubhouse, Polk County real estate records show.
The sale of the property to Concert Golf Partners, headquartered in Lake Mary, Fla., occurred Dec. 23; the transaction was recorded on Tuesday, documents show.
Glen Oaks, located west of Interstate Highway 35 between Grand Avenue and Mills Civic Parkway in West Des Moines, was developed as a gated residential community and golf course in the early 1990s on more than 500 acres of farmland. The golf course, which was designed by award-winning golf architect Tom Fazio, opened in July 1994. The clubhouse was constructed in 1993. Only the golf course and country club are included in the sale, not the gated community.
The property in 2021 was valued at just over $5 million, according to the Polk County assessor.
A group of local investors purchased the country club and golf course in October 2010 from West Bank, which had acquired the property at a sheriff’s sale. The investment group, which paid $4.6 million for the property, included Mark and Jill Oman, Ron and Ruth Pearson, and Robert and Deb Pulver, all of whom lived in the gated community of Glen Oaks.
It was that investment group, doing business as GOCC Investments LLC, that sold the property to Concert Golf Partners.
Peter Nanula, CEO of Concert Golf Partners, recently told the Business Record that Glen Oaks piqued the group’s interest because of its “top-notch golf course, wonderful clubhouse and great country club amenities. … It’s a gem.”
Concert Golf Partners describes itself as a “boutique owner-operator of top private golf and country clubs.” The company, founded in the 1990s, owns and operates 23 clubs across the country. According to its website, Concert Golf Partners has $250 million in long-term equity capital to invest and upgrade its properties.
The group plans some capital improvements to Glen Oaks, Nanula said. Among them are the addition of an indoor golf simulator and minor upgrades to the clubhouse.
Related story:Glen Oaks Country Club, golf course sold to Florida group
Editor’s note: This story was updated at 9:40 a.m. Jan. 13, 2022, to include the correct sale price of Glen Oaks. The information was incorrect on a public document published by the Polk County Recorder’s Office.