The Raven Golf Club at South Mountain, one of Arizona’s top daily-fees golf courses, has been sold to a group from Florida.
According to Jim McLaughlin, the senior vice president of Scottsdale-based Intrawest Golf, the sale will be finalized on Friday. The new owners will be CNL Income Properties Inc., of Orlando, which owns 17 leisure properties in the U.S. and Canada.
“According to the release we will be sending out, the sale was for just under $13 million,’’ McLaughlin said. “CNL is a very active company – they’re on the prowl – and if they’re not as big as (Intrawest), they’re right up there.’’
McLaughlin said that I.R.I Golf out of Tucson will be the new management company, and that the name – the Raven at South Mountain – will stay the same through a lease agreement. The current staff at the Raven also will stay in place, McLaughlin said.
“I.R.I. owns or operates 19 golf facilities in Arizona, Nevada, Texas, Washington and North and South Carolina,’’ McLaughlin noted. “Earlier, we sold them the Raven at Sabino Springs, which had its name changed to Arizona National.’’
Intrawest originally purchased the Raven at South Mountain and the Raven at Sabino Springs in 1998 in a package deal from previous owner Larry Lippon. The sale of both courses exceeded $30 million.
“From our heyday back then, to where the market is now, well, it’s gone a little downhill,’’ McLaughlin explained. “That’s why we decided to sell our stand-alone (without resorts) golf properties.’’
Intrawest still manages the Raven at Verrado, and will continue to do that, McLaughlin said. The Raven at Verrado has plans through its development company, Scottsdale-based DMB, to build a 900-room resort there in the near future.
Calls by The Tribune to CNL and I.R.I. Golf were not returned.
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