Ace Golf to buy closed Plantation Palms course in Land O' Lakes By: C.T Bowen

by Florida Properties Group on 4/28/2016

Ace Golf to buy closed Plantation Palms course

LAND O’LAKES — Ace Golf, the owner of three golf courses in New Tampa and northern Pinellas, is poised to acquire the closed Plantation Palms Golf Club, with plans for golfers to be walking the fairways in Land O’Lakes by September. The course, in the 821-home community of the same name on the east side of Collier Parkway, closed two years ago and was listed as a short sale for $1.2 million. On Tuesday, the U.S. Department of the Interior approved a $700,000 sale to Ace Golf, netting just less than $393,000 toward the debt that owner MJS Golf Group owed on the federally guaranteed note. MJS still must agree to the sale, and the closing could take place in May.

Bill Place, president of Ace Golf, said he expects repairs to the course to cost a minimum of $1.5 million. It’s the same conclusion reached in January by a consultant hired by Plantation Palms property owners. “It’s a property that’s been neglected for quite a while. The greens are gone. The fairways need to be re-grassed,’’ Place said. “It’s not quite like starting completely anew, but it’s pretty close.” .......Read More