Augusta National Golf Club has bolstered its real estate portfolio by purchasing the National Hills shopping centre for $26 million.
According to a report from the Augusta Chronicle, the club confirmed the purchase, which is Augusta National's priciest single real estate purchase to date, on April 13, the Monday after what was supposed to be the Masters’ final round.
The 15-acre National Hills Shopping Centre is across the street from the northwest corner of the Augusta National property, just a couple hundred yards from the main entrance on Magnolia Lane.
The purchase follows the club acquiring five former home tracts in the Jamestown neighbourhood on the club’s southwest side for $2.2 million back in March.
Public records of both sales were not made available by Richmond County until this week.
Both purchases were made through club-affiliated corporations; the shopping centre was purchased by WSQ LLC and the vacant residential property was purchased by Berckman Residential Properties LLC.
The five vacant tracts were sold to the club by British sports-hospitality firm Byrom PLC. The firm had proposed redeveloping the 2.3-acre site as a private neighbourhood with 14,200-square-feet of upscale residential space that would be used for corporate hospitality during the Masters Tournament.
The Augusta National, through affiliated companies, has acquired more than 110 acres of property surrounding the club during the past 20 years.