HNA Holding Group Co. Limited announced Tuesday that it had acquired Oki Golf’s eight courses in a $137 million deal.
Oki Golf Management LLC will be retained in order to manage the courses day-to-day operations.
Oki Golf manages eight courses in the Seattle area, with several on the Eastside: The Golf Club at Newcastle, The Golf Club at Redmond Ridge, and The Plateau Club in Sammamish. In total, Oki has 1,880 acres of courses.
HNA Holding Group was not the first interested buyer.
“While we have been approached several times regarding acquisition, this is the first time, we felt that the vision and opportunity being presented was a strong fit and a natural next step for the evolution of the Oki brand,” said Scott Oki, founder of Oki Golf.
Hong Kong-based HNA Holding Group focuses on merger and acquisition opportunities and invests in property, real estate development, and public infrastructure. HNA Holding Group will manage eight Oki Golf courses. Popular programs like the Oki Golf Players Card will continue.
“I’m pleased with the opportunity that an innovative global partner such as HNA brings and I look forward to contributing my expertise and specific market knowledge as part of the management team,” said Nancy Cho, president and CEO of Oki Golf.