FEATURE STORY

Ocean Ridge Plantation stays open while ownership issues continue
behind the scenes

By Shane Sharp,
Contributing Writer

SUNSET BEACH, N.C. (July 7, 2004) – Golfers need not sweat the recent financial news at Ocean Ridge Plantation, according to officials at the highly regarded North Strand golf community. The three-course property in Brunswick County recently emerged from a potential foreclosure situation unscathed, and director of golf Tom Plankers says it is business as usual around Lion’s Paw, Panther’s Run and Tiger’s Eye.

“Our rounds of golf are up and we’re having the best year in the history of Ocean Ridge,” Plankers told MyrtleBeachGolf.com.

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The best year, but an eventful year as well. The Gore family, longtime owners of Ocean Ridge’s golf courses and undeveloped land, broke up its holdings in January and sold the three 18-hole layouts to Larry Schwartz of West Palm Beach, Fla., John Hosch of Atlanta and Edward Albart of Ocala, Fla. Around the same time, local real estate mogul Mark Saunders paid Sunset Beach developer and City Councilman Ed Gore $21 million for the undeveloped portion of the property.

The Myrtle Beach Sun News reported on June 10th that Schwartz, Hosch and Albart defaulted on a $20 million loan with RBC Centura they had taken in December 2003 to purchase the three courses. Saunders reportedly purchased the loan from RBC Centura in May and initiated the foreclosure proceedings. The courses were to be auctioned on the steps of the Brunswick County Courthouse on June 25th and Saunders was expected to be the only bidder.

According to Plankers, the auction never took place.

“All I can say is that Mark has 100 percent control of Ocean Ridge Plantation now,” he said. “He has the courses, the real estate and everything. The auction didn’t take place.”

Plankers would not elaborate on how Saunders purchased the golf courses without going through with the auction. Under North Carolina law, a foreclosure requires a sale to satisfy the action. However, according to Brunswick County Court, the foreclosure proceedings were dismissed on June 18th and no record of sale exists. Neither Saunders nor his attorney Dickson McLean returned phone calls for comment.

Plankers declined comment on the matter, but said the defaulted loan and foreclosure proceedings did not affect the progress of Ocean Ridge Plantation’s fourth and final course, Leopard’s Chase. The Tim Cate designed layout is still slated to open in late 2005.

“I have said and will continue to say that Leopard’s Chase will be better than Tiger’s Eye, and Tiger’s Eye is the 83rd best golf course in the country (according to Golf Digest’s Top 100 Public Courses),” Plankers said.

Both Tiger’s Eye and Panther’s Run were designed by Cate – a local architect and former associate of Willard Byrd. Cate and Byrd worked together on Ocean Ridge Plantation’s first 18-hole course, Lion’s Paw. Cate eventually struck out on his own and went on to design The Thistle Golf Club and The Players Club at St. James Plantation. Leopard’s Chase will be Cate’s fifth course, all five of which are located in Brunswick County.

Chip Shots: River Oaks Golf Club recently announced that it would be closing its Fox nine for two months in order to swap out its old 328 Bermuda grass greens for a new set of Champion Bermuda – a newer, hardier Ultra Dwarf strand. The Fox nine was designed by Gene Hamm, and opened in 1987. The course should reopen by Sept. 1, according to course officials.

Any opinions expressed above are those of the writer and do not necessarily represent the views of the management. The information in this story was accurate at the time of publication. All contact information, directions and prices should be confirmed directly with the golf course or resort before making reservations and/or travel plans.