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Developers of Nicklaus Community in Raleigh Complete Club Sale to Concert Golf Partners

August 1, 2018

“It was the positive member feedback from MacGregor Downs CC that convinced us that we needed Concert Golf here at 12 Oaks.” – David Mason of Landeavor

RALEIGH, NC – The Club at 12 Oaks, featuring a championship Nicklaus design, is the latest high-end private club to join the growing boutique collection of Concert Golf Partners. Like other Concert Golf investments, the transaction paid off all club debt, froze member dues rates, injects nearly $1 million into capital projects at the club and bars any future assessments on the membership.

The Club at 12 Oaks is the centerpiece amenity at the 912-acre 12 Oaks community in fast-growing Holly Springs, featuring 1,700 homesites, an acclaimed championship golf course by Nicklaus Design Group, a 11,000-square foot clubhouse, fitness center, two resort-style swim complexes, tennis and pickleball courts, as well as numerous parks and open spaces. Designed with the feel of a college campus, 12 Oaks features over 20 miles of trails and sidewalks winding through rolling hills, open fields, lush woods, and even alongside creeks and streams.

“It has always been our plan to sell the Club at 12 Oaks as we wound down real estate sales and marketing,” said David Mason, vice-president of development for Tampa-based real estate developer Landeavor LLC. “After months of due diligence on the leading golf club companies, we determined that Concert Golf Partners is absolutely the best choice for our club members and community residents.”

“Our agreement with Concert Golf contains important protections for members and residents, including guaranteed access and preferred pricing for golf memberships for 12 Oaks residents as well as commitments to high quality club operations,” Mason said. “Concert Golf demonstrated its commitment to partnering with the community.”

The Nicklaus Design championship course at 12 Oaks, opened in 2009 and lauded as one of the best new private courses in the country by Golf Digest, stretches to an epic 7,132 yards and offers a variety of risk-reward shots for golfers of all skill levels. Water comes into play on several holes, challenging the more skillful player with a Nicklaus-style “go for broke” shot while at the same time, offering the more risk-averse player a bail-out area. The course is a scenic beauty as well, with undulating fairways and indigenous wetland vegetation framing several holes.

12 Oaks is the second private club in the Research Triangle area acquired by Concert Golf Partners. It had partnered with the member-owned MacGregor Downs Country Club in nearby Cary in 2014, and according to David Mason of developer Landeavor, “it was the positive member feedback from MacGregor Downs CC that convinced us that we needed Concert Golf here at 12 Oaks.”

12 Oaks Country Club Exterior

“Residential developers face two choices when they approach sellout of the homes: they can donate the club to the members and the club faces a highly uncertain future as a member-funded and self-governed non-profit entity, or they can partner with a well-capitalized club owner-operator to get cash back from the club sale and a proven high-quality member experience,” explained Peter Nanula, Chairman of Concert Golf Partners. “We have learned that members don’t want to deal with club funding and management if they know their club will be well taken care of.”

Concert Golf CEO Peter Nanula announced that his team would immediately undertake nearly $1 million in new capital projects at 12 Oaks, including upgrades to golf course aprons, green and tee complexes and irrigation system; renovating the member bar and grill; and some additional clubhouse remodeling. “The members and developers had a “wish list” of capital projects,” said Nanula, “and we agreed to fund them all.”