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APACHE JUNCTION, AZ-The 930-acre Superstition Mountain Golf & Country Club is the third Phoenix-area asset to fall victim to the economy as lender John Deere Credit prepares it to be auctioned on March 19. According to Golf Digest, the first mortgage balance on the property is $26 million.

The publication goes on to say that John Deere Credit could either accept the highest bid, or bid on the property itself and become the owner. Located about 30 miles east of Phoenix on 8000 E. Club Village Dr., the course has two Jack Nicklaus-designed courses, a 12-acre practice facility and a one-acre putting green. Also on the site is a 50,000-square-foot clubhouse. At one time, the course had hosted a Champions Tour major and an LPGA tournament.

News of Superstition Mountain Golf & Country Club’s auction date comes days after it was announced that the 293-room InterContinental Montelucia Resort & Spa in Paradise Valley, AZ was destined for the same fate. Also up for auction in the spring is the W Scottsdale Hotel.

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