Lakeview Golf Resort, its two 18-hole golf courses, its 187-room hotel and its other amenities sold Thursday afternoon in an online auction for $2.25 million.
The auction was conducted by Ten-X Commercial, an online auction company. Ten-X officials could not be reached for comment after the auction ended so it is not known who the winning bidder is.
Auction participants paid a $10,000 auction fee and bidding started at $1 million and went up in increments of $250,000. The auction had a reserve price, which was met when bidding reached $1.75 million. The winning bidder had to pay a 5%, or $40,000 minimum, transaction fee, according to the Ten-X website.
How Lakeview will be affected by new ownership remains to be seen. Monongalia County property records listed ownership as LA Lakeview Associates, a Morgantown partnership. Lakeview is managed by GF Management, a Philadelphia, hotel management company.
Neither GF Management in Philadelphia, or Lakeview management locally responded immediately to a request for comment on the sale.
Lakeview, founded in 1950 by Ward Christopher, sits on
412 acres and has 36,500-square feet of meeting space, a 40,000-square-foot fitness center, Legends Sports Bar & Grille and Fusion Restaurant, several swimming pools and direct access to other outdoor recreation options.
Susan Riddle, president and CEO of the Greater Morgantown Convention & Visitors Bureau, said the buyer got a bargain and added she hoped ownership will reinvest in the property.
“It’s been able to fill a spot in our inventory,” Riddle said.
Golf legend Sam Snead won the West Virginia Open and set the Lakeview course record of 67 in 1958, according to Golfer’s Lifestyle Magazine.
Jack Nicklaus and Arnold Palmer played an exhibition match in 1971 and tied the course record. The Mountainview Course opened in 1985 for play. Brian Ault was the course architect.
