2 golf courses sold for fraction of '90s value ; South Carolina company buys Champions Club, Windsor Parke for $2.7M

The insurance company that paid more than $13 million for two Jacksonville-area golf courses as an investment in the 1990s has sold them for $2.7 million.

Pacific Life Insurance Co. once paid $7.75 million for Windsor Parke off Hodges Road in Jacksonville and $5,395,518 for Champions Club at Julington Creek on Durbin Creek Boulevard in St. Johns County.

They have been sold to Brown Golf Management of Bluffton, S.C., which paid $1.5 million for Windsor Parke and $1.2 million for Champions Club.

Golf courses around the country have seen a decline in usage and value for more than a decade, starting before the recession.

The number of rounds played peaked in 2000-2001, according to Golf Datatech, and 2013's figures were the lowest since 1995.

More courses have closed than opened for eight straight years.

The decrease in play has been attributed both to a struggling economy and changing lifestyles with other leisure activities taking the place of golf.

Brown Golf Management owns or manages 23 courses in seven states. Its only other course in Florida is Eagle Ridge Golf Club in Summerfield, south of Ocala.

It replaced the general managers at both courses, said Brent Miller, the new manager at Champions Club. Jimmy Powell took over at Windsor Parke.

Miller said no major changes are planned immediately. Both courses are open to the public.Roger Bull: (904) 359-4296