Archives

lindley (1)

Business Insider

Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

Share
RSS feed of this blog

Augustine Golf Club in Stafford sold for $2.75 million

Augustine Golf Club off Courthouse Road in Stafford County sold Wednesday for $2.75 million, according to a deed recorded today in Stafford Circuit Court. I don’t have all the details on the buyers yet, but they are involved with Raspberry Golf Management, the Raspberry Falls golf course in Leesburg and the Old Hickory course in Woodbridge. I expect to talk to one of the principals of Raspberry Golf Management tomorrow and hope to have more details in Saturday’s FLS.

The previous owner of the course was Augustine Golf Club LLC, whose manager and sole member was Si Jun Lee. The new legal owner is Augustine Golf Investors LLC. Augustine’s reputation locally is that of a once-great course that has lately fallen on harder times.

Augustine sold for $250,000 more than the last golf course that changed hands in the area — the Fawn Lake Country Club. The Fawn Lake Community Association formed an LLC to buy that course, and the deal closed in November.

UPDATE: Here is the article in today’s paper.

Post tags:

Permalink: http://news.fredericksburg.com/businessbrowser/2011/02/24/augustine-golf-club-in-stafford-sold-for-2-75-million/

  • Dean Fetterolf

    This course when opened was ranked as one of the best in VA. It certainly has fallen on hard times even before the recession. Sure hope the new owners can restore it to its true beauty.

  • Mike Glasser

    Well said, Deano.

    Definitely one of the most beautiful courses I have played when it was well maintained.

  • sean

    Hopefully the restoration is mostly written off as a cost of doing business and it does not become to expensive to enjoy. Fair fees means more players which means more money coming in.