The family-oriented organization has reached an agreement to buy the Southern Pines, N.C., property in an all-cash deal, as part of its plan to establish a national golf academy.
U.S. Kids Golf announced Thursday that it has reached an agreement to purchase Longleaf Golf & Country Club in Southern Pines, N.C., as part of its plan to establish a national golf academy on the site, the Southern Pines-based Pilot reported.
Terms of the agreement with Longleaf RLE LLC were not disclosed, the Pilot reported.
“It’s an all-cash deal,” said Dan Van Horn, founder and CEO of Norcross, Ga.-based U.S. Kids. “We’re not taking any debt. We have a 45-day due diligence period, so we expect to close in early April. I feel pretty confident that it will work out.”
Robert Erickson, owner of Longleaf RLE, said the property has an assessed value of $4.7 million, the Pilot reported.
Signet Golf Associates in Pinehurst will manage club operations under a three-year contract once the sale closes, while U.S. Kids will focus on developing the academy and working on other site improvements, the Pilot reported.
Moore County has hosted the U.S. Kids World Championship since 2005 and the U.S. Kids Teen World Championship since 2008. Thirteen golf courses in the county are used, and Longleaf has been in the rotation since day one, the Pilot reported.
“We have no intentions of leaving, and really never have,” Van Horn said. “We’ve really felt welcomed over the years.”
The tournaments generate an annual economic impact in the county of more than $6 million, the Pilot reported.
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