Dallas: ClubCorp eagles Prestonwood Country Club buyDallas: ClubCorp eagles Prestonwood Country Club buyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=47172014-06-25T14:58:00Z2014-03-07T00:00:00Z

NORTH DALLAS - Dallas-based ClubCorp has acquired Prestonwood Country Club — and its two 18-hole championship golf courses, The Creek in Dallas and The Hills in Plano — from the Miller family. On March 3, 2014 ClubCorp's purchase price was $11.2 million for net cash consideration of $10.9 million.

The Company is in the process of finalizing the purchase price allocations, which are subject to change until our information is finalized, no later than twelve months from the acquisition date.

The Creek includes an 18-hole golf course, a 52,000-sf clubhouse, a fitness center, a tennis facility, golf and tennis pro shops and locker rooms with whirlpool, steam and tanning rooms. The Hills includes an 18-hole golf course, with a 19th hole bar and dining area within the clubhouse, fitness center and outside deck.

"The company plans to invest in a multimillion-dollar renovation project that will include improvements to member dining areas, both golf courses and family amenities," said CEO Eric Affeldt, in a written statement.

Prestonwood Country Club currently has about 1,000 members, which has grown from 800 members in 2009. Prior to the recession, the country club had about 1,200 members.

This latest acquisition is the third such buy for ClubCorp in the past six months. It now has 17 clubs in Dallas-Fort Worth, with 156 clubs in 25 states, the District of Columbia, Mexico and China.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2014/03/04/clubcorp-buys-prestonwood-country-club-from-miller.htmlRead more at {Source}

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