EDMOND — A Dallas-based country club chain said Wednesday it has bought Oak Tree Country Club and plans to renovate and expand the clubhouse and other parts of the club.
ClubCorp said it planned additional casual dining and will add an outdoor dining area to the clubhouse. It also wants to upgrade golf, tennis, pool and fitness areas. Oak Tree includes two 18-hole courses designed by golf-course architect Pete Dye.
The sale price wasn't disclosed, but a source with knowledge of the transaction said it was more than $10.4 million.
Property developers Tom Blanton and Jeff Bolding, who sold the club, will retain ownership and development rights to more than 200 acres of undeveloped land within Oak Tree Country Club.
ClubCorp will retain John Schuler, the club's general manager, spokeswoman Patty Jerde said. The club employs about 140 people.
“We are very excited about the addition of Oak Tree Country Club, nationally recognized as one of the pre-eminent clubs in Oklahoma, which gives us a presence in the state and increases our brand awareness nationwide,” Mark Burnett, executive vice president for ClubCorp's golf and country club division, said in a statement.
Oak Tree's East and West courses recently were ranked among the state's top courses in Golf Digest's 2013 list. The country club has a 65,000-square-foot clubhouse with three levels of dining. Its sports facility includes indoor and outdoor tennis courts, jogging track, fitness center and racquetball and basketball courts. The club also has an Olympic-size swimming pool and a children's wading pool.
“The addition of Oak Tree Country Club to ClubCorp's network and reputation as the leading operator of private golf clubs in the nation validates its prestigious status as one of the most respected and renowned private country clubs in the nation,” Bolding said in a statement. “Moving forward, we are enthused about both the future of the club and the Oak Tree community, which includes over 200 premium acres of undeveloped land.”
ClubCorp owns more than 150 golf and country clubs in the United States, Mexico and China, and has more than 350,000 members.
The sale of Oak Tree Country Club has no effect on the nearby Oak Tree National, which is owned separately by a group of local investors. Oak Tree National will host the 2014 U.S. Senior Open.