With two spacious clubhouses and courses just miles from one another, Heathrow Legacy Country Club has what you’re looking for. The Heathrow Country Club, established in 1983, is the leading private country club in North Orlando and designed by Ron Garl. The main clubhouse is 15,000 square feet, with full dining and banquet facilities, and the adjacent Racquet Club consists of a 9,000 square foot clubhouse, a tennis complex with 13 courts, including a stadium center court and one of the premier aquatic facilities in Central Florida.
The Legacy Club delivers a world-class golf experience marked with excellent course conditions and high-end amenities, including an 11,000 square foot clubhouse, state-of-the-art meeting rooms, Champion Bermuda greens, and a 10-acre practice facility with target greens and separate chipping, putting and bunker facilities. Developed with sensitivity to the environment
On July 15, 2011, Concert Golf Partners acquired Heathrow Country Club, one of Central Florida’s premier private country clubs, from BB&T in an all-cash transaction. BB&T was the lender that had foreclosed on its loan to the developer of Heathrow’s golf club and 2,200-home master-planned community earlier in the year.
“It was a pleasure working with [Concert Golf]; we are very happy with the transaction and we are looking forward to seeing [them] transform this diamond in the rough into the premier course/club it can be,” said the Senior Vice President of BB&T.
Heathrow Country Club presented a complex set of challenges for the developer and its banks: two separate bank loans; two foreclosures and two bankruptcies; environmental issues; deferred maintenance; and a declining membership seeking stability and a well-capitalized owner dedicated to the high-quality operation of the club. “We thrive in these complex, fast-moving situations,” said Peter Nanula, Managing Partner of Concert Golf, which entered into a quick 30-day inspection period. “Heathrow is our kind of situation: with over 900 total members and 2,200 homeowners in the community, the club has generated $6-8 million of gross revenues annually but needs focused management and a strong capital base to restore the magic of one of Orlando’s leading private clubs.”
On October 4, 2013, Concert Golf Partners (www.concertgolfpartners.com) acquired the Legacy Club at Alaqua Lakes (www.alaqualakesgolfclub.com), a premier private club in North Orlando featuring an 18-hole Tom Fazio-designed masterpiece. Concert Golf bought the club, previously owned and operated by Heritage Golf Group, from Deutsche Bank via a deed-in-lieu transaction with a novel approach to the club’s membership refund liability. Terms of the transaction were not disclosed; Hilda Allen represented seller Deutsche Bank in the transaction.
“We specialize in these complex deal structures, and we are pleased to have both solved the bank’s need for a speedy transaction prior to foreclosure and also addressed the club’s membership refund liabilities,” Peter Nanula of Concert Golf said. “The Legacy Club has an elite golfer membership, who will now enjoy dual-club access at our Heathrow Country Club less than a mile down the street.”