Golf Club at Vistoso in foreclosure - The Explorer: Business

Golf Club at Vistoso in foreclosure

Owners default on $8M loan, operations put in receivership

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Posted: Wednesday, January 13, 2010 12:00 am | Updated: 8:13 am, Thu Mar 24, 2011.

A popular Oro Valley golf course has fallen into foreclosure.

Operations at the Golf Club at Vistoso, 955 W. Vistoso Highlands Drive off Rancho Vistoso Boulevard, have been handed over to a court-appointed receiver — California-based Touchstone Golf, L.L.C.

Pima County Superior Court Judge Virginia C. Kelly named Touchstone receiver after Vistoso failed to pay on an $8 million loan since July of 2009. As of October, the unpaid amount of the loan totals $3.5 million, according to court documents.

Phoenix-based businessmen Ashton and Brandon Wolfswinkel own Vistoso Golf Partners. Their father, Conley Wolfswinkel, was a principal developer of Rancho Vistoso in the 1980s.

Stephen Harker, president of Touchstone Golf, said any changes to the club would be minimal during the receivership period.

"We are going to introduce some new membership options," Harker said. Those changes would be aimed at attracting new members.

Harker said the Golf Club at Vistoso has about 39 members, a decline from recent years, though he was unsure exactly how many members the club had lost. He also couldn't put a finger on the losses Vistoso Golf Partners had incurred at the club.

"I think it's safe to say that over the last few years revenue has declined," Harker said.

Touchstone operates 18 courses, eight of which are bank-owned like Vistoso. "We specialize in these types of situations," Harker said.

The company will operate the course and restaurant at least until March 11, when a trustee sale of the property is scheduled.

Touchstone would continue to operate the club if the original lender, Textron Financial, decides to buy the entire property, Harker said.

Retired golf great Tom Weiskopf designed the Golf Club at Vistoso, which has been ranked as Arizona's top public course by Golf Digest magazine.

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