Cambridge Golf Course in Evansville, Indiana, has been acquired by a local investor who owns a home near the property.
“[The buyer] had been interested in purchasing the club for a while and approached our firm with intentions to purchase the club, invest a significant amount of capital and take the club to the next level,” said Trevor Ekovich of Leisure Investment Properties Group, who advised on the sale. “The course has a rich history in the area and our goal was to find someone who appreciated the history and would build upon that moving forward.”
The seller was a partnership between two families who built the course. One was responsible for maintaining course/operations and the other was responsible for developing the community. Since the community was all but fully developed, both families felt it was time to divest the asset, Ekovich added…