ClubCorp’s acquisition of Atlanta-based Sequoia Golf in a deal valued at roughly $265 million reflects the strength of the current commercial real estate market. The deal, which was negotiated and concluded in only two months, increased ClubCorp’s private club count to 209 from 150.
To close the deal on ClubCorp’s timeframe, Brownstein’s Real Estate and Corporate Departments came together quickly, using teams consisting of attorneys from almost every office nationwide. The Sequoia portfolio consisted of 30 owned, three leased and 17 managed properties. Brownstein Shareholder Nicole Ament led the effort to set up the equity purchase and manage the real estate components of the transaction.
An in-depth knowledge of this long-time client and their objectives enabled us to be well ahead of the curve in assisting ClubCorp with this complex deal. The transaction closed in August 2014, making Dallas-based ClubCorp, already The World Leader in Private Clubs™, the owner or operator of more than 200 golf and country clubs, as well as business, sports and alumni clubs, in North America.
In addition to our work on the successful acquisition of Sequoia Golf stock and assets, and ongoing support in a variety of legal matters, our Natural Resources Department serves as water rights counsel to ClubCorp.