Tallahassee Reports recently broke a story about the purchase of the Killearn Country Club by Atlanta Ventures, a company founded by David Cummings who has significant ties to Tallahassee.
Provided below is a statement released by Atlanta Ventures related to the purchase.
Dear KCC Members and Killearn Community,
We’re very excited to announce that in early February, Atlanta Ventures (AV) entered into an agreement with Killearn Golf Properties (KGP) to purchase the golf course and club.
So why is a tech investor from Atlanta buying a country club in Tallahassee? Because, like the beautiful live oak trees that stand watch over the property, our Killearn roots run deep.
Atlanta Ventures was founded and is led by serial entrepreneur and investor David Cummings. David grew up in Killearn and has many fond memories from the club when he played as a kid. David and AV Partner A.T. Gimbel both attended Lincoln High School. Both still have family that live on the course.
The Cummings family is also connected to the original KCC developer – J.T. Williams – who built the club back in 1967.
We’re also a team of avid golfers. In fact, one of our portfolio companies is Intown Golf Club – a private social club situated in the heart of Buckhead.
Finally, it’s Killearn’s storied history and the opportunity to bring back the vibrancy it once had that really makes the endeavor compelling for us. It’s been clear in our conversations with Jimmy Graganella and Ron Tolliver how much KGP and their investors care about KCC. We’re looking forward to building upon all the hard work they’ve done to stabilize the club over the past 24 months.
We know that KCC has been down this road with previous buyers before and been left at the altar, so know this is not a commitment we take lightly. To illustrate this, we committed $8 million to be placed in escrow that will be used exclusively to reinvigorate the club. This is $4 million above and beyond what was required.
Our plan is to close on the transaction in the middle of March after we get approval from the KIllearn Homeowners Association. Starting immediately after closing, we will begin plans to undertake a massive revitalization that includes building a new clubhouse, pool, and restaurant as well as investing heavily into improving the golf course.
Over the coming months, we’ll engage with architects and engineers to flesh out designs. While the project scope is vast, we expect to move as quickly as possible. While we don’t know exactly what the future looks like just yet, our focus will be on creating an exceptional year-round family experience.
Like you, we care deeply about making Killearn the premiere gathering place for families and friends, full of experiences that you can be proud of and a home where memories are made daily. To us, Killearn is more than just a golf course…it’s a way of life.
We look forward to meeting you in person and are excited to partner with you on this journey!