The 813-acre parcel is in Georgetown, a fast-growing area about 20 miles north of Austin. The buyer, Paloma Group Inc. of Solano Beach, CA, will build an 18-hole golf course designed by Jack Nicklaus on the site.
The course is part of a new master-planned community called Cimarron Hills. The opening is set for early 2002.
The seller is an Austin-based private partnership known as C-7 II Ranch Ltd. The deal was put together by CB's Golf Course Group.
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