Local golf news
Original content
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Posted in South Carolina Golf News
CNL Acquires Palmetto Hall Plantation Club |
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CNL Income Properties, Inc., a real estate investment trust (REIT) focused on lifestyle properties, has announced its acquisition of Palmetto Hall Plantation Club in Hilton Head, S.C., for approximately $7.6 million.
CNL Income Properties has entered into a long-term, triple-net lease with Heritage Golf Group to operate the club. Heritage is the owner and operator of private, resort and high-end daily-fee golf facilities around the country.
“We are excited to be announcing our first expansion into golf with this well-established club,” says Rudy Anderson, CNL Income Corp. vice president of Investments. “The acquisition is a good fit with our continued overall growth strategy to invest in golf properties in popular destinations operated by significant golf course industry leaders. Heritage Golf Group is a proven leader in delivering high-quality golf experiences and we are proud to be partnering with them on this transaction.”
The property includes two 18-hole championship golf courses designed by Arthur Hills and Robert Cupp. The club also includes a full-service clubhouse, a pro shop, two tennis courts and a swimming pool.
For more information about Palmetto Hall, call 843/681-7717 or visit http://www.palmettohallclub.com/showsite.asp.
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| For more information on this golf project and hundreds of others around the U.S., go to www.golfconstructionnews.com. |
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