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Article Courtesy of The
Tallahassee Democrat
By Jim Henry
Published March 7, 2022
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Jimmy Graganella promised increased membership and improvements to Killearn Golf
& Country Club when he headlined a group that purchased it two years ago.
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After making strides,
Graganella is selling and a “massive revitalization” is now
being planned under new ownership.
The Killearn Homeowners Association’s nine-person board is
expected Tuesday to approve the sale of the golf course and
club to Atlanta Ventures (AV), a company founded by
Tallahassee native David Cummings.
AV signed a $2.6 million purchase agreement with Killearn
Golf Properties (KGP) in early February, according to
Graganella.
“Given time, I think he is going to make it the best club in
Tallahassee,” said Graganella, a local businessman,
entrepreneur and former Florida State athlete.
“That’s David’s goal. This guy is a wonderful man, very
intelligent.”
Cummings, who attended Lincoln High, is an Atlanta-based
tech entrepreneur who has founded multiple companies that
collectively have a worth of $1 billion, according to
reports. |
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Franklin County golf coach and athletic director
Scott Collins (standing) chats with his two daughters Melanie and
Megan and an assistant coach following a round at Killearn Country
Club.
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His father, Dr. Ronald Cummings, is a retired Tallahassee orthodontist.
Cummings’ AV partner A.T. Gimbel also attended Lincoln High, according to
the company's release.
In a statement emailed last week by Atlanta Ventures to Killearn course and
club members, the company said its plan is to close the deal in the middle
of March after it receives approval from the Killearn Homeowners
Association.
Sale negotiations between the principals started last December.
“Starting immediately after closing, we will begin plans to undertake a
massive revitalization that includes building a new clubhouse, pool, and
restaurant as well as investing heavily into improving the golf course,” the
statement read.
To demonstrate its commitment, AV said it has “committed $8 million to be
placed in escrow that will be used exclusively to reinvigorate the club.
This is $4 million above and beyond what was required.”
Graganella and Ron Tolliver headlined a group - Killearn Golf Properties -
that signed a $2 million purchase agreement in February 2020 with former
owner Barton Tuck of Greenville, South Carolina.
Graganella’s group stabilized the operations of the club, improved
membership from 150 to 400, hired a chef for its restaurant, renovated tee
boxes and added three clay tennis courts.
It also raised $1.5 million through individual investors.
While selling due to time commitment and costs, Graganella’s excited about
the incoming owners' vision for the course and club.
In its email to members, AV said, “while the project scope is vast, we
expect to move as quickly as possible. While we don’t know exactly what the
future looks like just yet, our focus will be on creating an exceptional
year-round family experience.”
Located in northeast Tallahassee, the course was built in 1967. It held PGA
and LPGA events and the sprawling facility also featured an Olympic swimming
pool, tennis courts, a 30-room hotel and fitness center.
The club also once featured 27 holes, but it closed its nine-hole North
Course in 2016. It also has experienced its share of discord and unfilled
promises over the years.
Cummings, in his company's email to members, said he grew up in Killearn and
"has many fond memories from the club" when he played as a kid. Cummings
said he and Gimbel still have family that live on the course.
"Like you, we care deeply about making Killearn the premier gathering place
for families and friends, full of experiences that you can be proud of and a
home where memories are made daily," AV said in its statement related to the
purchase.
"To us, Killearn is more than just a golf course…it’s a way of life."
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