New Owner Takes Over Longleaf
Longleaf Golf and Country is under new ownership.
Bob Erickson, who was a part of the original investment group, assumed sole ownership of the club on Midland Road in Southern Pines last month through a Tampa, Fla.-based company called Longleaf RLE, LLC, according to Longleaf General Manager Mike Floyd.
Erickson was the mortgage holder on the golf course and country club. He assumed a deed of trust in lieu of foreclosure, in what is termed a "friendly foreclosure," Floyd said.
"In July, August and September, when the economy was going into the tank, the revenues just weren't there, and we were going in the hole," Floyd said. "He was owed the big bill, so he just assumed it himself."
Erickson is reportedly looking into selling the property, but nothing is definite at this point, Floyd said.
For more on this story, see Sunday's print edition of The Pilot.
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