Adena returns

Oculus R Golf Partners acquired a 1,300-acre land asset in the greater Ocala area of Marion County, Florida, that includes a luxury golf and country club.

The Club at Iron Lake, formerly known as Club Adena, is the heart of the property, which is located four miles from downtown Ocala and 10 miles from the World Equestrian Center.

Located on the site of a former limestone quarry, the property is now lined with spectacular lakes that define the landscape. The most prominent of these, Iron Lake, forms the visual and experiential center of the club and provides an iconic backdrop to an 18-hole championship golf course.

The community’s name, IronCrest, is inspired by the commanding view offered from the towering cliffs surrounding the quarry lakes and takes a double meaning from iron as both a golf club and a horseback-riding stirrup. This marks the first acquisition of its kind by Oculus R Golf Partners, founded by husband-and-wife team Craig and Elizabeth Phillips, both Ocala residents with deep ties across the golf and equestrian communities. They will lead an investment partnership, comprised of both institutional and private individual investors, that share a long-term vision for the development of this distinctive residential community.  

“We were drawn to this property because of the strong economic potential of the assets and the unique character of the land. The club provides a great starting point, due to its high-quality golf course and expansive clubhouse and leisure facilities, but what really distinguishes the property is the setting itself,” Craig Phillips said.

Elizabeth Phillips added, “Our focus is on developing the club and community in a way that responds naturally to the land and reflects the character of Ocala. As an equestrian family, we are particularly excited about the potential of the 355-acres of the property within the Farmland Preservation Area and the opportunity to create a unique equestrian farm community.”

Oculus R Golf Partners purchased the property from Adena GC Holdings, LLC — which is controlled by Frank Stronach, a Canadian industrialist who conceived and developed the property — for $63 million, according to a deed and related records search by Ocala StarBanner.