Black Diamond golf course up for sale
Posted on Monday, 26th April 2010 in Citrus County FL News, Citrus County Golf News, Citrus County News, Florida Golf News, florida
The Black Diamond Ranch golf course in Citrus County, renowned for fairways carved around canyon walls of an abandoned limerock quarry, is up for sale, along with an adjacent golf residential community, a 28,000 square foot clubhouse and 550 acres of undeveloped land.
Stan Olsen, the 81-year-old developer who turned the Black Diamond Ranch in Citrus County into a residential golf community in 1987, is planning to retire.
Olsen and his company, Black Diamond Properties Inc., are interested in selling the entire business, including the two 18-hole and one nine-hole golf courses that feature the Tom Fazio-designed “Quarry Course.”
Golf Digest has rated Black Diamond among the nation’s top 100 for 20 consecutive years, while Golf Magazine Living ranked Black Diamond among the 25 best courses to live on in 2007-2008.
The Plasencia Group, Inc., a Tampa-based hospitality real estate firm Olsen retained to create a deal, said no asking price has been determined
The Tampa firm has handled deals involving PGA National in Palm Beach, Amelia Island Plantation near Jacksonville, the Hills of Lakeway in Austin, Texas, and Kingston Plantation in Myrtle Beach. S.C. It will help upgrade operations at the golf community to enhance sale prospects during the poor economy.
“We are committed to finding an investor with strong financial credentials who shares Mr. Olsen’s desire for a successful long-term strategy, and who will present a reasonable plan for enhancing the property and the value of the real estate,” Lou Plasencia, chairman and chief executive of The Plasencia Group, said in a release.
Five privately owned homes were listed for sale on the Black Diamond Club website with prices ranging from $319,000 to $325,000. Another 18 lots were offered for sale at prices between $9,000and $220,000.
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