Oki Golf sells up for $137,000,000.00

Oki Golf, the Seattle golf club conglomerate founded by Scott Oki, a former Microsoft executive, has sold its 10 local golf courses at eight locations for $137.5 million to a Chinese conglomerate, though Oki will continue to operate the courses. 

Echo Falls Golf Club, part of the Oki dynasty

Oki, otherwise known in those parts as 'himself' said in a statement he was “approached several times regarding acquisition.”

The buyer HNA Holdings is part of a Hong Kong-based company that operates airlines, hotels and businesses that deal in financial services and real estate, and also owns other golf courses around the world.

A company spokeswoman said it decided to sell because HNA offered a strong financial and cultural fit — with HNA’s tourism and travel ties — and presented an opportunity for future growth. 

Scott Oki with some dudes we've never heard of...

Lots of lolly in other words! Oki will pay HNA an annual rent of $7.1 million for five years. 

The golf courses encompass 1,880 acres in the Seattle area: The Golf Club at Newcastle; Washington National Golf Club in Auburn (home to the University of Washington golf teams); The Golf Club at Redmond Ridge; Trophy Lake Golf & Casting in Port Orchard; Harbour Pointe Golf Club in Mukilteo; two courses at the Golf Club at Hawks Prairie in Lacey; The Plateau Club in Sammamish; and Indian Summer Golf & Country Club in Olympia. 

Oki's firm is also still managing Echo Falls, the first course he purchased, in 1994.

HNA stated that they were enticed into the deal because of the large amount of wealthy Chinese tourists playing golf, and saw Seattle as a gateway into the North American golf market.

Our invite is, we assume, in the post...