NY firm swings $307M deal for 9 golf courses

Screen Shot 2014-10-20 at 2.54.55 PMBy Mike Sunnucks | Phoenix Business Journal

A New York private equity firm has bought 11 Arizona golf courses and country clubs as part of a $307 million deal involving golf properties in 13 states.

Arrowhead Country Club in Glendale, Tatum Ranch Golf Club in Cave Creek and Raven Golf Club at South Mountain were among the Phoenix area golf properties sold by Orlando-based CNL Lifestyle Properties to an entity called CF Arcis X LLC.

CF Arcis is an arm of New York-based Fortress Investment Group LLC (NYSE:FIG).

The $2.8 billion private equity firm helped finance last year’s purchase of the Arizona Coyotes hockey team.

Continued:

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