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Steve_ Shaffer

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LuLu CC news....
« on: October 06, 2020, 07:49:13 PM »
Montgomery County Sheriff Sale to Include Lulu Country Club Real Estate


The Upper Dublin real estate supporting Lulu Country Club will be put up for auction as part of the Montgomery County sheriff sale on December 2, writes Natalie Kostelni for the Philadelphia Business Journal.The auction will seek to sell the commercial real estate but not the business that is associated with the listed properties.
Lulu Country Club – home to the first 18-hole golf course in the state designed by Donald Ross – has found itself in this situation due to mortgage foreclosure proceedings. In May, a judgment of $7.5 million was entered against the club. As a nonprofit corporation, Lulu Country Club backed the original loan it took out with the real estate.
According to Donald Rusk of Lulu JJR LLC, which has a 20-year lease on the 115-acre property and oversees its management, the sheriff sale will have no effect on the club’s continued operations going forward.
“Lulu is doing better than it has ever done in its long history,” said Rusk. “We presently have over 500 members who will be enjoying Lulu for years to come.”



https://montco.today/2020/10/montgomery-county-sheriff-sale-to-include-lulu-country-club-real-estate/
« Last Edit: October 06, 2020, 11:10:50 PM by Steve_ Shaffer »
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Lou_Duran

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Re: LuLu CC news....
« Reply #1 on: October 06, 2020, 08:24:53 PM »
Typically, in Texas at least and probably most places, a foreclosure on the first lien would wipe out all junior encumbrances including leases.  In most cases, assuming that someone purchases the property at the sheriff's sale, that entity might choose to renew the lease, renegotiate it, or evict the tenant.  Maybe PA is different or the commercial real estate being auctioned is separate from the LuLu site.
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Cliff Hamm

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Re: LuLu CC news....
« Reply #2 on: October 06, 2020, 08:34:30 PM »
Perhaps Brad Faxon can be of help.
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Cal Seifert

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Re: LuLu CC news....
« Reply #3 on: October 06, 2020, 08:47:55 PM »
Didn’t this place just build a new clubhouse?
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Steve_ Shaffer

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Re: LuLu CC news....
« Reply #4 on: October 08, 2020, 03:54:09 PM »
Image


New Club House overlooking #18
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

JESII

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Re: LuLu CC news....
« Reply #5 on: October 08, 2020, 04:35:21 PM »
Guys...this is financial mechanics along the lines of what Lou suggests. I think we’ve added 200 members this year alone and they support the bar/restaurant.


While I am not privy to their financial specifics, the owners are not concerned with the process, other than the press.
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Steve_ Shaffer

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Re: LuLu CC news....
« Reply #6 on: December 08, 2020, 11:29:10 PM »



Lulu Country Club fails to sell at auction; lender formally takes ownership



https://www.bizjournals.com/philadelphia/news/2020/12/08/lulu-country-club-doesnt-sell-at-auction.html
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

archie_struthers

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Re: LuLu CC news....
« Reply #7 on: December 10, 2020, 07:07:05 PM »
 8) :P

As to  LuLu, at the end of the day I think the Who sang about it!

when the dust settles " meet the new boss same as the old boss" rings true,  good for the golf in the end


The club is thriving ;)
« Last Edit: December 10, 2020, 07:48:50 PM by archie_struthers »
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Mike Sweeney

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Re: LuLu CC news....
« Reply #8 on: December 11, 2020, 07:33:23 PM »
I can't see past that paywall, so I continue to be confused. I just played it the one time, but I much preferred it to Aronimink GC, which is also Philly Ross.
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archie_struthers

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Re: LuLu CC news....
« Reply #9 on: December 12, 2020, 08:54:41 AM »
 8)


To  Mike Sweeney's query simply put LuLu should stay in the same hands as the present manager bought out the first lienholder a while ago, or that's my understanding. Under that scenario all junior liens would have been wiped out at the sheriiff's sale whne no one stepped up and bought it out. So assuming that the present manager would be unencumbered by most of the debt that was there previously.


Given they are crazy busy and have a waiting list it appears to be a fait accompli for the managing partner.


It sure is different than Aronomink, quirky and fun versus formulaic and muscular.





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Jim Sherma

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Re: LuLu CC news....
« Reply #10 on: April 09, 2021, 09:08:40 AM »
Played LuLu this week in a GAP play day and it was everything I hoped that it would be. Very quirky and downright funky in places. I found it challenging in all the right ways while still being a ton of fun to play. Could easily see a round get away from you very quickly if you start missing in the wrong places. The course was in fine shape except for the bunkers having little to no sand in them. Hopefully they have another 100+ years in front of them without any more of the financial issues that they seem to have weathered.

The Reundestanding Ross thread states the following in a post by Mike Cirba:

In the case of Lulu, we are very confident that Frank James constructed the course to Ross' plans.
We also know that Ross retained the routing of 7 of the 9 Meehan/Webb holes in his 18 hole plan.

Can someone please explain the architectural history, do we know what holes/corridors were pre-Ross?
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archie_struthers

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Re: LuLu CC news....
« Reply #11 on: April 09, 2021, 11:38:16 AM »
 8)


You came to the right place , those two Philly boys will surely exceed expectations on this one.
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MCirba

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Re: LuLu CC news....
« Reply #12 on: April 09, 2021, 12:16:45 PM »
Jim/Archie;

Here's a May 1915 schematic (found some years back by Joe Bausch) of the original nine-hole course at LuLu that was designed by local architect Franklin Meehan (with William? Webb) and opened at that time.   I don't have much time to post at the moment but a few years later Ross was brought in to update nine and create and 18 hole course.   It's pretty easy to see that at least the basics of quite a few existing holes were already in place (including the super cool par three quarry hole) prior to Ross.   Hope this helps...


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https://cobbscreek.org/

Joe Bausch

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Re: LuLu CC news....
« Reply #13 on: April 09, 2021, 12:33:15 PM »
I provided the detailed early architectural info for Joe Logan's article on LuLu back in 2017 for GAP:

https://www.gapgolfmag-digital.org/gapgolf/2017_summer?pg=32#pg32
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@jwbausch (for new photo albums)
The site for the Cobb's Creek project:  https://cobbscreek.org/
Nearly all Delaware Valley golf courses in photo albums: Bausch Collection

archie_struthers

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Re: LuLu CC news....
« Reply #14 on: April 10, 2021, 11:26:05 AM »
 ;D


yep as forecasted great stuff guys!
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