Inside Augusta National’s secret $500-million real estate empire

AUGUSTA, Ga. — As our gaze returns to Augusta National this week, it’s easy to believe the most famous golf club in the world is rigid. That its traditions are intractable. That everything it owns behind the gates of 2604 Washington Road is unchanging.

The reality is “everything Augusta National owns” changes basically every month, and has been changing, quietly but significantly, for the last 25 years. In total, Augusta National-owned property has aggregated into a roughly $500 million empire thanks to more than $280 million in property acquisitions. But importantly — and perhaps unsurprisingly from such an exclusive and private club — these purchases are made under the veil of real estate secrecy, via obscurely named LLCs, which GOLF.com tracked and assembled, both in this map and in the video below.

It started a lot like most things Augusta National does, through a goal made with Masters patrons in mind:…

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