Korean Group Pays $85M for Three Texas Golf Courses

Two courses, Avery Ranch Golf Club in Williamson County and Teravista Golf Club in Round Rock (as shown), were acquired by Hanlim Construction, a Korean firm with several affiliated enterprises. The company also bought Falconhead Golf Club in western Travis County. The three courses were sold for $85 million. The combined annual revenue of the three courses is reported to be $20.4 million.

The courses were owned by Round Rock-based Magnolia Hospitality Management.

The Austin Business Journal reports Hanlim launched in 1980 and was originally an apartment builder. It has transitioned to owning golf courses.

Korean companies, as a result of Samsung Electronics’ plant in Taylor, have been taking an interest in the region. That has included various companies in the Samsung supply chain, as well as a bank, an industrial developer , and a car parts maker. Those companies have located nearby, including Bastrop, Taylor and Georgetown.