Bonita Bay Group sells Shadow Woods

Bonita Bay Group sells Shadow Woods

BUYER: The Commons Club at the Brooks Inc., Bonita Springs

SELLER: Long Bay Partners LLC

PROPERTY: parcel 28-E, The Commons Club, also known as SEC 11 and 10-47S-25E, and 28-F, The Commons Club Beach Club and Parcel 28-G, The Commons Club Beach Club Parking Lot, known as SEC 25-47S-24E, running along Hickory Boulevard, Estero

PRICE: $4.25 million

BUYER: Shadow Wood Country Club Inc., Bonita Springs

SELLER: Long Bay Partners LLC

PROPERTY: parcels 7-28, Shadow Wood Preserve, 22801 Oakwilde Blvd., Bonita Springs

PRICE: $3.5 million

ATTORNEY ON DEED: David L. Cook, Bonita Springs

PLANS, DESCRIPTION: The Bonita Bay Group sold The Commons Club at the Brooks and Shadow Wood Country Club to its member groups for a total of $7.75 million.

The 2,252-member not-for-profit The Commons Club at the Brooks Inc. purchased the various assets and liabilities of the Commons Club at the Brooks for $4.25 million. The members of Shadow Wood Country Club purchased that property for $3.5 million.

The Shadow Wood Country Club property includes 54 holes of golf, a sales center, clubhouse, pro shop, fitness room, cart barn, maintenance facility and related parking facilities.

The Commons Club at the Brooks deal includes the lagoon side property now used for member parking and boat docking, the Spa and Fitness Center with swimming pool and fitness studio, The Enrichment Center, Rosie Spoonbill's Restaurant, the gazebo, concert lawn, playground, water park, the water docks on the lake and surround property. The Commons Club is used by five communities: Copperleaf, Lighthouse Bay, Shadow Wood, Shadow Wood Preserve, and Spring Run.

Both sales also included all furniture, fixtures, equipment, permits, advanced dues, supplies, prepaid expenses and other assets of the two clubs.

The purchase entity The Commons Club at the Brooks mortgaged the property to Mortgage Market Inc. for $2.2 million. Shadow Wood Country Club Inc. mortgaged its property to SunTrust Bank for $2 million.