Golf course investors buy Duffy's Golf Center

BUYER: The Cove of Rotonda Golf Center LLC (principals: Matthew Mootz, Eileen Schwartz and Chris Reynolds), Port Charlotte
SELLER: Duffy's Golf Center Inc.
PROPERTY: 12355 S. Access Road, Port Charlotte
PRICE: $956,000
PREVIOUS PRICE: $375,000, June 1998
ATTORNEY ON DEED: John Morgan Brunson Esq., St. Petersburg

PLANS, DESCRIPTION: Matthew Mootz, Eileen Schwartz and Chris Reynolds purchased the Duffy's Golf Center real estate for $956,000.

The new owners plan to upgrade the 18-hole golf course, driving range and clubhouse and rebrand it as The Cove.

“We're improving the golf course right now,” says Chet Rogers, general manger of the Cove. “It was in pretty poor shape when we bought it. This summer we will be redoing the clubhouse and expanding it.”

Rogers says the owners were attracted by the property's location along a major highway in a highly populated area. The owners also have experience in turning around troubled golf courses. Mootz in particular was a managing member of Signature Golf, which bought and improved the Rotonda golf courses.

The owners have already improved the bunker and cart paths and reseeded the whole course. They also plan to resurface the parking lot.

The purchase price for the business was not disclosed.

The purchase entity, The Cove of Rotonda Golf Center LLC, mortgaged the property to Charlotte State Bank & Trust for $797,560.