With the acquisition of this golf course portfolio, CBIGG, a Hong Kong investment group and owner of four golf properties in Arizona and Las Vegas, as well as a 54-hole golf resort in China, has made a statement that they are a serious global investor in country clubs and golf courses.
CBIGG’s primary focus at this time is on the acquisition of golf properties in the recovering United States market. The terms of the purchase were not disclosed.
Over the past few years CBIGG has selectively acquired golf clubs that align with the company’s interest in long-term golf course ownership.
“This portfolio is a milestone acquisition for our company,” said Randy Jones, COO of CBIGG. “We are pleased to expand our presence into Texas and the Northeast markets. With this portfolio as a solid foundation, we expect to continue pursuing our business plan and acquire additional strategic golf courses in the near future.”
The collection of golf clubs (both private and public) has been operated in partnership with Century Golf Partners (Century). The clubs will continue to be managed by Century, which owns the Arnold Palmer Golf Management company.
Jim Hinckley, President of Century, stated, “We are very excited about the opportunity to work with the outstanding CBIGG team and to continue serving our members and guests at each club. Combining our resources with CBIGG will be beneficial for all stakeholders.”
The joining of forces between CBIGG and Century provides a well-capitalized and exceptionally experienced team to effectively pursue acquisitions and improvements at golf clubs across the country.
Century Golf Partners http://centurygolf.com/