.

Investment Group Acquires Silver Spring Golf & Banquet Center

An investment group with local ties has purchased the course, and plans to make needed improvements to the facility.

The Silver Spring Golf & Banquet Center has been sold.

According to an announcement posted on the golf course’s website Friday, RN Realty, LLC and Varin Realty, LLC have acquired the business from a subsidiary of Capmark Bank. The Capmark subsidiary took ownership of Silver Spring after a loan default more than a year ago.

In 2011, the golf course was put on the market for $5.3 million and was managed by an Atlanta-based golf management company. Silver Spring was previously owned by the Carlysle Group, a global investment firm based in Washington D.C., and was run Pegasus Golf Partners of Washington. Silver Spring was part of a larger investment portfolio of 10 other courses that went under, and the bank took over.

Details of the transaction were not disclosed.

The Silver Spring Golf & Banquet Center will be re-branded as the Silver Spring Golf Club moving forward. The owners intend to invest in needed facility improvements and upgrades to the course and facilities. Affinity Management will run the golf course.

“As a Milwaukee native who owns another course in the area, I see great potential in Silver Spring. The club’s reputation was naturally eroding under bank ownership, but together with Affinity Management we will soon fix that,” said Varin’s Managing Member David Nankin in a statement.

Silver Spring sits on 278 acres and features a 38,000-square-foot banquet hall that can fit up to 1,000 guests, 36 holes of championship golf, a 4,600-square-foot pro shop and a driving range. The course also comes fully loaded with maintenance equipment and a full-service kitchen.

W . Benz December 22, 2012 at 12:34 AM
Could have been a great place for a Major retailer's office park or a 18 Million $$$ Hotel. All of this for a cool $$ 5 Mill for 278 acres using private $$$ . Maybe a TIF Dist # 10 or New Village Hall & Golf course or a prehistoric dinosaur museum. What a deal !!!!
jerry mislang December 22, 2012 at 01:08 PM
Overall the course has a nice layout. Several holes on the Falls 18 need to be redesigned. They have an outstanding brunch on Sundays too.
W . Benz December 22, 2012 at 01:59 PM
The clubs reputation was eroding under banks ownership and it showed. We were there for a wedding and the food was just ok and the A/C was poor. The best food @ a wedding was the Q -Bear but they are now closed. These are tough times for restaurants ,shopping strip malls, hotels and many other businesses.
MFalls Girl December 22, 2012 at 02:02 PM
My father was born in the original house which is part of the SSCC
W . Benz December 22, 2012 at 02:11 PM
Falls Girl ---Very cool , maybe you can post Pic if you have some or sent them to the Patch .

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something