Ninety-nine percent of the failures come from people who have the habit of making excuses.
George Washington Carver
Kristena Hansen Reporter-Phoenix Business Journal Oct 9, 2013
GoDaddy founder and executive chairmanBob Parsons is continuing his Phoenix-area real estate buying spree, this time snatching up the ultra-exclusive Golf Club Scottsdale.
The 292-acre members-only golf course is almost entirely surrounded by the McDowell Mountain Preserve near 122nd Street and Dynamite Road.
According to county records, the sales price for the land was $600,000.
Records in the Arizona Corporation Commission and the Maricopa County Recorder’s Office show the transaction took place last month through his newly-formed entity, Scottsdale National Golf Club LLC, in which Parsons is a member. The seller was an entity controlled by Crown Golf Properties LP.
Parsons also has changed the course’s name to Scottsdale National Golf Club, according to the new website, which is accessible only with a member login.
Dan Dahl, who manages Parsons’ real estate portfolio, did not immediately respond for comment.
Parsons, who according to Forbesmagazine is the third-richest person in Arizona, sold a portion of GoDaddy to a private equity firm in 2011 for $2.25 billion. Since then, it’s estimated that he’s purchased close to $200 million in Phoenix-area real estate.
Most recently, Parsons purchased the Centerpoint on Mill in downtown Tempefrom Scottsdale-based DMB Associates Inc. for $38.35 million.
Pete Charleston, president of Scottsdale-based GolfLogix, said the course appeals to high net-worth individuals who prefer the exclusivity of a private club. Therefore it doesn’t compete with the nearby Troon North Golf Club, which is open to the public and draws mostly tourists and snowbirds.
GolfLogix is a developer of GPS-based technology for smartphones, which helps golfers determine their exact distance from a hole on golf courses all over the world.
Like many golf courses nationwide, Scottsdale Golf Club course had struggled to retain members during the downturn, he said.
“It’s still relatively quiet what (Parsons) is going to do with it,” Charleston said.
The 18-hole course opened in 2003 and had caps on the number of members it allowed. In 2011, the course slashed the price to join from $110,000 to $25,000 and had only 160 of the 350 total members it allowed.
Local real estate developer Lyle Anderson recently began building a 250-home community dubbed Sierra Reserve near the course.
Kristena Hansen covers residential and commercial real estate.
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