The massive Grande Dunes development, that brought a new level of luxury in Myrtle Beach when it debuted about a decade ago, has been sold to a N.C.-based company that aims to continue the vision of the developer Burroughs & Chapin Co.
Raleigh, N.C., LStar Management closed the deal with Burroughs & Chapin on Friday to purchase the 2,200-acre development, which spans from the oceanfront to west of the Intracoastal Waterway.
The deal included the Member’s Club and its 18-hole golf course, as well as the Ocean Club’s 25,000-square-foot oceanfront clubhouse, restaurant and pool complex; the Tennis Club’s 10 tennis courts, clubhouse and fitness center; the 131-slip Grande Dunes Marina and the waterfront Anchor Cafe.
770 acres of vacant land for future residential and commercial development, most east of the Intracoastal Waterway was also included in the deal, but what wasn't included was the public Resort Golf Course, the Marriott which B&C still owns or the Marinia Inn
The size, location and reputation of Grande Dunes made it appealing to LStar, which a real estate investment firm that specialized in residential and commercial development. This will make LStar’s first property in the Myrtle Beach area.
“It’s just such a great property,” said Steve Vining, managing partner of LStar Management. “You look at what B&C has done here and their vision...it’s just great. It’s really a one-of-a-kind facility. It was just a great opportunity, frankly.”
McConnell Golf, which specializes in managing private courses, will takeover the overseeing of management of the golf, as well as the club operations at the Members Club at Grande Dunes, Ocean Club at Grande Dunes and also at the Anchor Cafe. McConnell,which was founded in 2003, operates about 153 holes of golf in the Carolinas, including at The Reserve Golf Club in Pawleys Island.