Digital FCU Buys Back Golf Course In Bankruptcy Auction
WAREHAM, Mass. – In what may be considered a credit union exec’s dream, Digital FCU won Wednesday’s auction for Bay Pointe Country Club and its 19-hole golf course.
The credit union, based in nearby Marlborough, holds the mortgage on the property.
A senior commercial lender for the credit union made the sole bids on all facets of the auction, including $1.5 million for the real estate, $5,000 for the liquor license and $5,000 for the furniture, fixtures and equipment.
The club includes about 138 acres of land as well as clubhouse space. It was built in the 1960s, then known as Wareham Country Club, and includes two clubhouses.
Wednesday's auction comes five years after Bay Pointe's then-owner, Buzzards Bay Golf Club, filed for bankruptcy, the day before a scheduled 2006 auction.