East Coast money is taking another swing at Arizona golf. The Walden Group, a New Jersey investment firm, has shelled out $57 million for a trio of public courses across metro Phoenix: Longbow Golf Club in Mesa, Power Ranch Golf Club in Gilbert and Dove Valley Ranch Golf Club in Cave Creek. The roughly 500 acres of fairways, practice ranges and clubhouses will still be run day to day by Thompson Golf Management under a multiyear deal, and the sale was backed by a sizable loan.
Price breakdown and seller
County records and transaction data reviewed by the Phoenix Business Journal show the three 18-hole clubs changing hands for a combined $57 million. Longbow came in at about $23.5 million, Power Ranch at roughly $17.1 million and Dove Valley at around $16.4 million. Gilbert-based Thompson Golf Group, which had owned the properties, opted to sell while simultaneously locking in a multiyear agreement to continue operating the courses.
Financing and Walden's Arizona footprint
The acquisition is partially funded by a $45 million loan from Davidson Kempner and widens The Walden Group’s desert portfolio. The firm already owns Canoa Ranch and Torres Blancas in Green Valley and Quarry Pines in Tucson, according to The Real Deal. Longbow covers roughly 160 acres, Power Ranch about 181 acres and Dove Valley around 165 acres, for a total of more than 500 acres, based on county records cited in the report. It all adds up to a hefty wager on daily-fee golf in the Valley.
Thompson to keep running the clubs
For Thompson, the move is being framed as a chance to cash in on past upgrades while doubling down on management. Company leaders said the sale allows Thompson to “focus on its core management business while monetizing value created through improvements,” and The Walden Group has hired Thompson Golf Management to keep running the clubs, as reported by AZ Big Media. That means the same local staff, events and membership programs are expected to stay in place for now. Officials have not announced any immediate plans for major renovations or changes to how memberships work.
Investor appetite for Arizona golf
Recent coverage points to a mini land rush in Arizona golf, including another multi-course acquisition unveiled earlier this month, as private firms and funds chase steady, community-driven assets, according to The Real Deal. For investors, well-kept daily-fee courses with reliable local play and event bookings can look like a safe, if unflashy, place to park capital. For regulars on the tee sheet, the most noticeable change in the short term may just be a new name on the ownership line while the on-course experience stays familiar.
For now, leagues, tournaments and regular tee times are moving ahead as scheduled while Walden studies longer-term capital plans. Expect more concrete updates if and when the new owner rolls out renovation timelines, tweaks to membership offerings or other changes that could affect how locals play these courses.
