A Dallas-based company has finalized the acquisition of Gig Harbor's , according to its press release issued Tuesday.
ClubCorp did not specify the final cost of the purchase, but it plans to begin a more than $1 million capital improvement project immediately on the property.
The acquisition was announced as Canterwood fell victim to the economic slowdown, causing its private club membership to plunge from 500 to less than 225, according to The News Tribune.
Members of the prior club owner and new golf members who join prior to Oct. 10, 2011, will have the opportunity to sign up for ClubCorp’s industry-leading Signature Gold program dues free for 12 months, which offers complimentary golf and dining privileges when traveling to ClubCorp’s network of more than 200 owned or affiliated clubs around the country.
Members with Signature Gold benefits also can have access to TicketLine, a personal concierge service that offers premium tickets for the some of the best concerts, sporting events and local theater tickets in the Seattle-Tacoma area and throughout the country.
ClubCorp currently owns or operates more than 150 golf and country clubs and resorts in 25 states, the District of Columbia and two other countries.
“We are extremely pleased about the addition of Canterwood to our portfolio of clubs,” said Mark Burnett, ClubCorp executive vice president, golf and country club division. “The Seattle-Tacoma area is a truly beautiful part of the country and we take pride in the fact we can offer our members access to an exceptional private club there that offers challenging golf surrounded by such an amazing backdrop.”
“The members at Canterwood are very excited about the sale of the club to ClubCorp,” said Ray Velker, president of the board of directors for the seller. “They appreciate the additional benefits and opportunities that ClubCorp brings as well as their reputation as the world leader in the industry.”
Canterwood Golf & Country Club features a Robert Muir Graves-designed 18-hole, 7,175-yard championship golf course, named one of the Top 10 Golf Courses in the state of Washington by both Golf Digest and GOLF Magazine.
The ClubCorp now owns two properties in Washington, including Columbia Tower Club in Seattle. The purchase of Canterwood marks its fourth acquisition in 2011.