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Club at Black Rock has new owners

| November 4, 2010 6:50 AM

The Press received this release today:

The Golf Club at Black Rock, LLC is pleased to announce that on November 1, 2010, it completed and closed the acquisition of the golf course, beach club, and related facilities formerly operated as The Club at Black Rock. The Golf Club at Black Rock, LLC is an entity formed by eight Black Rock homeowners.

Black Rock is a world class golf and residential community conceived and developed by Marshall Chesrown, who operated the Club under The Club at Black Rock, LLC. The amenities associated with Black Rock include an award-winning Jim Engh designed golf course, a 30,000 square foot private clubhouse, 382 home sites, and a beach club facility. The Black Rock Golf Course was named “Best New Private Course in America” by Golf Digest in 2003. In 2009, the course was listed by Golf Digest as No. 27 on the “Top 100 Courses in America,” beating out some of the most respected names in the industry and giving Idaho its first and only Top 100 course.

Earlier this year, The Club at Black Rock, LLC entered into an agreement with Washington Trust Bank under which certain assets of The Club at Black Rock, LLC were transferred to the Bank through a deed in lieu of foreclosure. The interest of Washington Trust Bank in the assets of The Club at Black Rock, LLC were subsequently acquired by West Sprague Avenue Holdings, LLC, a Washington Trust Bank holding company.

On November 1, 2010, The Golf Club at Black Rock, LLC, which is neither associated nor affiliated with The Club at Black Rock, LLC, closed the purchase of the Black Rock Golf Course and related assets from West Sprague Avenue Holdings. The managing members of The Golf Club at Black Rock include Roger Rummel, Ron Pratte, and William Morrow. Prior memberships in The Club at Black Rock were terminated by The Club effective October 31.

Despite economic conditions, The Golf Club at Black Rock has already entered into new membership agreements with approximately two-thirds of the former members of The Club at Black Rock. Opportunities for additional memberships are now available to interested parties without the requirement that they purchase real estate in the community. On behalf of The Golf Club at Black Rock, Roger Rummel stated, “Black Rock is a special place to all of us who have come to call it home. While the views and amenities associated with Black Rock are special, it is the people who live and work there that make it a community. It is our desire to preserve that sense of community and to establish a basis to allow the Club to grow and flourish in the years to come.”

Former employees of The Club at Black Rock have been retained. Information regarding memberships may be obtained from Andy Gorton, General Manager, or Danette Harrington, Executive Assistant. The Golf Club at Black Rock, LLC is not associated or affiliated with The Club at Black Rock, LLC.

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