Drive Shack Nets $83M in Golf Course Sales

Drive Shack opened its first venue in Orlando in April and plans to build a facility at Randall’s Park in New York City.

NEW YORK CITY—Locally-based Drive Shack Inc., which is in the midst of transforming its operations into solely a golf entertainment and leisure company by selling off its owned golf course properties, took a “massive step” in implementing its disposition strategy with the sale of 11 of its golf properties in California, Oregon, Idaho and Georgia.

The publicly-traded company netted approximately $82.5 million in the sale of its courses owned and operated by American Golf subsidiaries. The courses sold include: Canyon Oaks Country Club in Chico, CA; El Camino Country Club in Oceanside, CA; Monterey Country Club in Palm Desert, CA; Oakhurst Country Club in Clayton, CA; Oregon Golf Club in West Linn, OR; Palm Valley Country Club in Palm Desert, CA; Plantation Country Club in Garden City, ID; Seascape Golf Club in Aptos, CA; Sunset Hills Country Club in Thousand Oaks, CA; The Trophy Club of Apalachee in Dacula, GA and the Wood Ranch Golf Club in Simi Valley, CA.