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Greencastle greens bought by Fla. company

February 17, 1998|By DON AINES

Greencastle greens bought by Fla. company

GREENCASTLE, Pa. - An Antrim Township golf course purchased in 1995 by a partnership headed by former NFL quarterback Ron Jaworski has been sold.

The sale of Greencastle Greens was part of a five-course deal announced Friday by Florida Golf Properties Limited Partnership of Miami. Florida Golf Properties did not disclose the sale price in the announcement.

Ron Jaworski Links Inc. bought the 18-hole, 6,947-yard course on Castlegreen Drive at a Franklin County Sheriff's sale on Dec. 8, 1995, for $1.5 million.

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The course, which had been owned by Robert L. and Diane S. Elder of Smithsburg, opened in July 1991.

In 1995, Hagerstown Trust Co. filed a mortgage foreclosure claiming the Elders failed to repay more than $2.5 million, according to court records. Jaworski's company was one of two bidders on the 200-acre property.

Friday's deal included four other courses: Eagle's Nest Country Club in Sewell, N.J.; Wild Oaks Golf Club in Salem, N.J.; and Honey Run Golf Club and Yorktowne Golf Club, both in York, Pa. All are owned by Jaworski Links, according to Christopher Dunn, assistant banquet manager at Eagle's Nest Country Club.

According to the Florida Golf Properties announcement, the company specializes in turning around underperforming golf courses and plans to invest in capital improvements and use its professional expertise in operations and marketing to bring these courses to peak performance.

Jaworski, an ESPN football analyst who spent several of his 17 NFL seasons with the Philadelphia Eagles, said in February 1996, that his company had already spent a quarter of a million dollars on equipment at Greencastle Greens.

The manager of Greencastle Greens was not working Monday. Florida Golf Properties could not be reached.

The company's announcement said it was changing its name to Gotham Golf Partners. The new name comes from Gotham Partners, a New York investment partnership that backed Florida Golf Properties' purchase of 14 courses over the past 14 months.

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