The previously announced sale of Meadowbrook Country Club in Tulsa officially closed Wednesday, according to Randy Heckenkemper, a Tulsa-based golf course architect and businessman who has been acting as a consultant to the buyers, Tulsa real estate developers Chuck Ramsay and Glenn Shaw.
The two bought the historic club from golf course management and ownership firm Arcis Golf. The terms were not immediately available but Heckenkemper said once all was considered it was considerably more than the previously reported figure of $6.3 million.
The course will remain open for an undetermined time as development plans are made. That time could be several years depending on how many members remain. Some members have left since the sale was announced but others have signed up under a promotion that allows new members to join for no initiation fee.
Meadowbrook Country Club began as a Jewish only club in 1954. It’s original nine holes were designed by Press Maxwell and architect Don Sechrest later added nine holes. The course, on 81st Street just east of Memorial Drive, is considered prime land for real estate development. It is also considered a very fine, strategic golf course which in 2017 has ironically been in what members call the best condition in its history.
Ramsay, 76, a former Meadowbrook member, played in the Meadowbrook member-guest this summer when he learned Arcis was considering selling the course.
Arcis, a Texas-based golf company that owns and manages 60 golf courses throughout the country, purchased Meadowbrook in 2014 as part of a $320 million deal with CNL Lifestyle Properties that included 48 courses. Articles at the time assigned a value of $5.38 million to Meadowbrook.
Andy Crosson, the senior vice president of acquisitions at Arcis, met with Meadowbrook board members on Oct. 3 to inform them that the club was being sold, and that Arcis would be managing the club for the new owner. He said at the time that the buyers “offered us an extremely attractive price. We were not looking to sell Meadowbrook, though it is a very modest earner and doesn’t have a big earnings upside as a golf course.”