Pine Lakes among 12 golf clubs sold to Chinese group

pinelakescA Chinese investment group more than doubled the number of Grand Strand golf courses it owns in a deal announced Thursday with National Golf Management.

Founders Group International has acquired a majority interest in locally-based NGM’s assets, giving FGI a vested interest in 22 courses in Myrtle Beach area.

Among the most recognizable names of courses involved in the transaction is Pine Lakes International Country Club, the first golf course of the nearly 80 layouts on the Strand. “The Grandaddy” opened in 1927 as part of the Ocean Forest Hotel development and is credited for beginning the golf boom on the Grand Strand.

Other courses involved in the deal are Grande Dunes Resort Course, Long Bay Club, Myrtlewood Golf Club’s Palmetto and Pinehills courses, Myrtle Beach National’s King’s North, South Creek and West Course at Myrtle Beach National, South Creek at Myrtle Beach National, West Course and four courses on the historic Waccamaw Golf Trail – Litchfield Country Club, Pawleys Plantation, River Club and Willbrook Plantation.

FGl already had ownership in Aberdeen, Burning Ridge, Colonial Charters, Founders Club, Indian Wells, River Hills, TPC of Myrtle Beach, Tradition Club, World Tour and Wild Wing. The deal includes NGM subsidiaries Ambassador Golf, Myrtle Beach Golf Trips, Prime Times and Tee Times Central, along with their corresponding web sites.

FGI and parent company Yiqian Funding are led by Chinese investor Dan Liu and Nick Dou. The group said it plans to current changes in operations at the courses.

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