Out-of-State Group Buys Victoria National

Posted: Updated:
(Image courtesy of Victoria National) (Image courtesy of Victoria National)
NEWBURGH -

One of the highest-profile golf courses in the state has a new owner. Victoria National Golf Club in Newburgh has been sold to Nebraska-based Dormie Network by the Victoria Partners Team, which acquired the course from its original owners in 2010. Tom Fazio designed the course and it opened in 1998.

Dormie Network's Zach Peed says "Victoria National simply couldn't be a more perfect fit. It's an absolutely exceptional course with premium amenities, and it's secluded from roadways and residential housing. It's exactly the caliber of club Dormie Network members are looking for." The group now owns five courses throughout the country, including Dormie Club in North Carolina, Ballyhack Golf Club in Virginia, ArborLinks in Nebraska and Briggs Ranch Golf Club in San Antonio. "It's not just about growing Dormie Network," Peed added in a news release, "it's about reinvesting in course conditions and amenities in ways that add value to the pure golf experience for our members and their guests."

The new owners say maintenance equipment and golf carts will be upgraded immediately and long-term plans include upgrading green condition management technology and "several capital improvement projects." The price of the acquisition was not disclosed.

Victoria National covers more than 400-acres on land that includes reclaimed coal mines. The Victoria National website says its golfing membership totals 170 and 100 are social members. In late 2016, developers announced a $55 million residential community planned near the course that received $2 million from the state's Regional Cities Initiative. You can connect to more about the Dormie Network acquisition by clicking here.

  • Perspectives

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Artist rendering of proposed headquarters for Ruoff Home Mortgage in Fort Wayne.

      Ruoff to Build New HQ in Downtown Fort Wayne

      Fort Wayne-based Ruoff Home Mortgage has announced plans to build a $43 million corporate headquarters in downtown Fort Wayne. Plans call for a 110-thousand square foot, nine-story structure, at the corner of Ewing Street and Jefferson Boulevard. The building would include leasable office and retail space, as well as a parking garage. It would overlook Parkview Field, home of the Fort Wayne Tin Caps minor league baseball team. The company is currently located on...

    • (IIB Photo/Alex Brown)

      India Wants to Partner with Indiana on Sports

      Indiana Secretary of Commerce Jim Schellinger says a recent trade trip to India included a rare meeting that produced some interesting results.  Schellinger and Governor Eric Holcomb were granted an audience with Indian Prime Minister Narendra Modi.  “We were taken aback at how well he knew Indiana,” said Schellinger. “He knew our (economic) background, our educational background, our history of sports statewide,” said Schellinger, who added...

    • Photo courtesy of MutualBank

      MutualBank President Dies

      The President and Chief Operating Officer of Muncie-based MutalBank Pat Botts has died. In a statement on Facebook posted Sunday, the company said the passing was unexpected.

    • (stock image courtesy of Pixabay/Gerd Altmann)

      Hoosier Banks Rated for Work Environment

      Three Indiana banks have been judged as Best Banks to Work for in the U.S. by American Banker. The publication compiled a list of the top 85 banks in the country having a good work environment and strong, engaging leadership. 

    • The company also owns a building leased by Ulta in IN. Photo courtesy of Monmouth Real Estate Investment Corp.

      Greenwood Amazon Building Gets New Owner

      New Jersey-based Monmouth Real Estate Investment Corp. (NYSE: MNR) is acquiring a property in Greenwood.  The company says it is purchasing the nearly 616,000-square-foot industrial building for $81.5 million and will lease the space in a 15-year agreement to Amazon.com Services Inc.