Country Club of South Sells For $11.1 million

An update to the Jan. 4 post on the Country Club of the South: the suburban Atlanta club, which recently went into foreclosure, was sold Tuesday at auction for $11.1 million. The new owner is the Bank of North Georgia, located in Alpharetta.

News of the sale was reported by the Atlanta Business Journal. As we noted previously, the sale involved only the golf club and its facilities (including its Jack Nicklaus designed golf course). The 700 private homes that make up Country Club of the South were not part of the foreclosure or the sale.

-- G.R.