Heritage Golf Group, a Virginia-based operator, has acquired Ptarmigan Country Club outside Fort Collins for $6.1 million. The club, which features an 18-hole course designed by Jack Nicklaus, was previously owned and operated by the Flack family for over 20 years. The sale was prompted in part by the passing of Ron Flack, the club’s previous owner, last summer.
Heritage Golf Group, which now owns 39 private or semi-private courses across the country, has plans to make improvements to Ptarmigan, starting with the clubhouse. While the course is in good condition, the company is considering renovating some of the bunkers.
Scott McMartin, Heritage’s Chief Acquisition Officer, stated that the company is focused on acquiring legacy family-owned clubs that are looking for a dependable exit strategy. Ptarmigan appealed to Heritage due to its full amenities, private status, and location in a residential area.
With the purchase of Ptarmigan, Heritage has expanded its presence in Colorado, where it already owns three other courses. The company has two more clubs under contract in the eastern U.S and is interested in acquiring more clubs along Colorado’s Front Range.
The acquisition of Ptarmigan is part of Heritage Golf Group’s larger strategy to grow its portfolio of high-quality golf courses in desirable locations. The company’s commitment to making significant investments in its properties sets it apart in the industry, with a focus on improving the overall experience for club members.
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