Over the past four months Terra Novo in conjunction with a legal, engineering and surveying team have been working on the sale of the clubs at St. James.
- By Cece Nunn, posted Jan 10, 2018 on WilmingtonBiz.com
The owning families of St. James Plantation have reached an agreement with an Arizona-based golf management company to sell The Clubs at St. James Plantation, according to an announcement Tuesday afternoon.
The sale to the management company, Troon, includes the golf courses, clubhouses and sports clubs at the Reserve, Founders, Members and Players Club facilities, a news release stated, for an amount that was not disclosed in the announcement.
Troon has been a longtime partner to the community, according to the release, managing The Clubs on behalf of the developer for the past 12 years. The ownership transition is scheduled to take effect Feb. 1.
The sale comes at a natural time for the family-owned business as St. James Plantation, which was founded by Homer Wright, is entering its final phases of development, the release stated.
Opened in 1991, St. James Plantation is home to more than 4,500 property owners on 6,000 acres that includes 81 holes of championship golf, a private beach club, a full-service marina among other amenities, according to the release. St. James was incorporated as a town in 1999 and has its own mayor, Fire Department, EMS, and Property Owners Association.
The release said that the transition of The Clubs to a known partner with successful elite club management helps “ensure the long-term sustainability of the facilities and continued excellence of the member experience.”
Jay Atkinson, a representative of the St. James Plantation developers, said in the release, “Our intention throughout this process was to find a buyer with a focus on the members and on the long-term sustainability and success of The Clubs, and we found that with Troon.”
He said the management company “recognizes ongoing growth opportunities for The Clubs because of its long-standing relationship with St. James, and we are confident they will continue to provide their first-rate service to our members for years to come.”
The release said that Troon is one of the largest golf management companies in the world, with six divisions that operate golf resorts, private clubs, daily fee golf courses and recreational facilities around the globe. The firm manages clubs like The Clubs at St. James Plantation under the company’s Troon Privé division.
“We have a long history of success working with The Clubs at St. James, and we welcome the opportunity to continue in that role as we become stewards of this great legacy,” said Bruce Glasco, chief operating officer of Troon, in the release. “The Clubs, members, residents and associates at St. James are all very special, and we couldn’t be more pleased to continue our decade-plus relationship of operating this amazing club.”
As part of the sale agreement, Troon will also continue to operate Tommy Thompson’s, the popular Marina food and beverage facility, the release said.