Courses
A Lender's Legacy
![golf-courses-blogs-golf-real-estate-assets_c-2009-08-Legacy-thumb-230x181-4381.jpg](http://golfdigest.sports.sndimg.com/content/dam/images/golfdigest/fullset/2015/07/21/55ad908cb01eefe207f74ba5_golf-courses-blogs-golf-real-estate-assets_c-2009-08-Legacy-thumb-230x181-4381.jpg.rend.hgtvcom.966.773.suffix/1573451921133.jpeg)
Textron Financial, a unit of the conglomerate that makes E-Z-Go golf carts, is about to take control of Legacy Golf Club in Sarasota, Fla., according to the Sarasota Herald Tribune.
The club carries 4 1/2 stars in Golf Digest's Places to Play ratings and was designed by Arnold Palmer and his partner Ed Seay. Owner/manager Troon Golf owes $7 million on the course and is transferring control to Textron to avoid foreclosure, the Herald Tribune reports. The problem: declining revenue because of the recession.
Legacy isn't the only Sarasota course changing hands. Last week Excel Golf announced an agreement to take over the Concession Golf Club, a high-end private course designed by Tony Jacklin and Jack Nicklaus.
-- P.F.