Dallas, TX – CoastOak Group announced the acquisition of Oak Creek Club, an Upper Marlboro, MD gated golf course community and the only one in Prince George's County. Woodlawn Development Group, formed by CoastOak with NVR, Inc. and Morgan Stanley Real Estate Investing (MSREI) in June 2011, will manage the project.
The new ownership team will invest substantially across 923 acres to address deferred maintenance. Toll Golf will own and operate the golf course, constructing a new clubhouse. Home sales by Ryan Homes, NV Homes, and Toll Brothers are scheduled later that year, targeting over 1,100 homes total.
Josh Nichols stated: "We are very excited to restore Oak Creek Club as one of the premier places to live in Prince George's County."
Through Woodlawn, CoastOak maintains approximately 1,800 residential lots under development in Loudoun County, VA, and over 1,000 lots in Prince Georges County.