Paa-Ko Ridge Golf Club Sold to NY Firm
Alvarez & Marsal of New York City Buys No. 1-ranked Golf Course in N.M.
Roger Cox & Associates has sold the acclaimed Paa-Ko Ridge Golf Club in Sandia Park, N.M., to a pair of New York City businessmen who specialize in turning around under-performing companies.
In a letter to about 500 Paa-Ko Communities home and lot owners, the course's new owners, Tony Alvarez and Bryan Marsal, principals of the Manhattan firm of Alvarez & Marsal, announced the change of ownership in the No. 1-rated golf course in New Mexico.
In the letter, they also announced their intent to build a 62-room lodge and 18 guest cottages to attract tourists to the golf course.
(Photo: Hole No. 12 at Paa-Ko Ridge Golf Club)
Also sent to the Paa-Ko Communities owners was a letter from Bruce Franks of Mountain Ranch Properties, part of Roger Cox & Associates, the builder of the golf course and surrounding community. That letter confirmed the sale and thanked residents for their support of the 18-year-old golf course.