Fort Collins country club sells to Virginia firm for $6M

A new flock is taking over Ptarmigan Country Club.

The club outside Fort Collins was purchased this month by Heritage Golf Group, a Virginia-based operator that expanded into Colorado two years ago. Records show the company paid $6.1 million for the land.

Heritage now owns 39 private or semi-private courses across the country, including The Golf Club at Bear Dance in Larkspur, Plum Creek Golf Club in Castle Rock and Colorado National Golf Club in Erie. It bought those three clubs in 2022.

It bought the private club at 5416 Vardon Way from Ryan Flack, whose family owned and operated it for more than 20 years.

“It was a good long-term relationship and the timing was right. We’re very thankful that they selected us,” said Heritage Chief Acquisition Officer Scott McMartin, who has known Flack since he started operating the club.

Ptarmigan, which opened in 1987, features an 18-hole course designed by golf legend Jack Nicklaus. It also has a swimming pool, racquet courts and a clubhouse.

Ron Flack, Ryan’s dad, bought it in 2004 for $4.8 million, records show. He and his son revamped several parts of the clubhouse during their tenure, according to the Ptarmigan website.

The older Flack died this past summer, in part leading to the sale, McMartin said. Ryan Flack did not respond to a request for comment.

“It was a combination of high comfort level with Heritage, the right price and the timing with the family. It was just an opportunistic situation,” McMartin said of Flack’s decision to sell.

McMartin said Heritage will improve several aspects of the club, which is already underway with the clubhouse. While the course is in good shape, his team is evaluating whether to give some bunkers a face-lift.

“Once we acquire a property, we go in pretty big with capital,” McMartin said. “We don’t like to stretch it out over years.”

He said Heritage has been looking to expand into Fort Collins because of its growing population and it being a university town. Ptarmigan also fit McMartin’s criteria when it comes to a new club: private with full amenities in a residential area. He said the company also likes to target legacy family-owned clubs that want a dependable exit.

McMartin said Heritage is under contract to buy two more clubs in the eastern U.S and interested in buying more clubs along Colorado’s Front Range.

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