The Walden Group has acquired three Arizona-based golf clubs from Thompson Golf Management for a reported $57 million.
The acquisition of Dove Valley Ranch GC in Cave Creek, Longbow GC in Mesa and Power Ranch GC in Gilbert doubles the group’s portfolio of courses in Arizona, as it already owns three clubs in Tucson.
Thompson Golf Management will continue to manage operations for all three clubs.
Dove Valley is an 18-hole green-fee facility designed by Robert Trent Jones Jr. It opened in 1998 as the key amenity in the 850-acre Dove Valley Ranch golf community. Longbow opened in 1997 and its 7,050-yard course underwent a complete redesign in 2003 with the club also benefitting from a new clubhouse and a revamped practice facility. Power Ranch Golf Club’s 6,900-yard desert-style layout was designed by Dick Bailey and first opened in 1999.
Steven Schorr, founder and Principal of The Walden Group, a family-owned investment company based in New Jersey, said: “We are excited to welcome these outstanding Arizona clubs into our growing portfolio,” Schorr said. “Dove Valley Ranch, Longbow, and Power Ranch are exceptional clubs supported by talented teams and loyal guests. We look forward to partnering with Thompson Golf Management to continue investing in these properties and the communities they serve.”
Schorr added: “We loved the quality of the clubs and the locations. We’re focused on areas where there’s demand for golf. These types of areas such as Arizona North Carolina and Florida are where people go to golf, vacation to golf, retire to golf and tend to benefit the most from the growth of that demand of the market.”
Ryan Thompson, CEO of Thompson Golf Group and Thompson Golf Management, commented: “We’re incredibly proud of what these clubs have become and the teams that have helped shape them,” said. “We’re excited to partner with The Walden Group in this next chapter and continue leading operations at three clubs we know exceptionally well.”
The Walden Group’s portfolio now comprises more than 30 private and public golf clubs across the US. Other courses under its ownership include Serenoa Golf Club in Sarasota, Florida; The Eagles Golf Club in Tampa, Florida; and The Revival Golf Club at The Crescent in North Carolina.