Page 155 - South Mississippi Living - September, 2015

and club general manager in 2005. “His deal was a little bit different
because he had a couple deep pocket investors and guarantors. We went
a different way and financed it by offering shares. I wasn’t willing to give up control and it all worked out.”
Where the Hughes’ deal was precipitated by Shell Landing’s longstanding financial challenges, Bloom’s deal was born of opportunity. Pacific Life was in the process of liquidating its golf inventory and Bloom realized his concern for his
job, in the event of a sale, could be removed if he was part of the new ownership.
Bloom credits his father Steve Bloom and Steve’s partner Fred Pierce with providing the tiered investment structure that made the purchase possible. After retiring from San Diego State University, the elder Bloom worked for a real estate investment company owned by Pierce.
Russ Bloom and his advisors opted to offer shares at $50,000 apiece, and successfully recruited the number of associates necessary to meet the sale price of a little more than $1 million. The deal was consummated the last day of 2014, enabling Bloom and staff to continue operating one of the best courses on the Mississippi Coast.
“That was the best part of the deal,” said Bloom, pointing out that The Oaks was already one of the best kept courses on the Coast. “A lot of times where you have an investor holding
a course and trying to sell it, the course has gone downhill and has not performed well financially. That’s not the case with us. Superintendent J.T. Cockrell and Director of Sales David Spence are both investors. It creates a cool culture of pride and ownership for these key positions.”
Built by Landmark National and opened in 1998, The Oaks has long been recognized as a classy, challenging layout that is well maintained and operated. That
reputation is underscored by the quality of events that have been held there, including amateur and professional championships.
“We’ve had the Nike and Buy.Com tours, the State Women’s Amateur and many other top events,” noted Bloom. “The Oaks is a quality course that is capable of handling almost any golf event.”
Moving forward, Bloom expects to continue operating with long term sustainability in mind. Rather than cutting expenses and operating on a tight budget to maximize short term profits, Bloom says The Oaks will invest the money necessary to assure continued quality.
“Our long term vision is to improve facilities, improve the condition of the course and make sure we stay committed to long term growth,” Bloom said, adding that an additional $50,000 is already being directed
to upgrade the bunkers around the course. “This is my livelihood,” he added. “This is where I want to be for the long term. This is our product and we have to continue to push it in the right direction.”
The Oaks Golf Club
24384 Clubhouse Dr Pass Christian, MS 228.452.0909 www.theoaksgolfclub.com
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September 2015 • SOUTH MISSISSIPPI Living 155