Lantern Asset Management and Fortress Investment Group announced the closing of a financing facility supporting the continued growth of Bluejack, the Texas-based private club and residential resort organization co-founded by Andy and Kristin Mitchell, with golf courses designed by Tiger Woods’ TGR Design and land planning by Beau Welling Design.
The $150 million credit facility was led by funds managed by affiliates of Fortress and provides long-term capital to support infrastructure, amenities and continued development across Bluejack’s platform, including Bluejack National in Montgomery, Texas, and Bluejack Ranch in Aledo, Texas.
The transaction builds on Lantern’s reorganization of Bluejack and the formation of Bluejack Management Partners, creating an integrated owner-operator platform spanning private club operations, residential development, construction, hospitality and related businesses.
“We’ve spent the last twelve years proving what Bluejack can be, and now we have the leadership and partners to think much bigger about what comes next,” said Andy Mitchell, chairman and CEO of Bluejack Management Partners and Lantern. “I’ve always believed you should make money with people, not off people, and that starts with choosing partners you know, trust and want alongside you for a long time. Fortress understands what we’ve built, believes in where we’re going and brings tremendous experience to the table. There’s real alignment with our partners around the opportunity ahead for Bluejack, and we’re excited to have them alongside us for what comes next. We’re just getting started.”
Founded in 2014, Bluejack began with Bluejack National, the private club and residential community northwest of Houston featuring the first Tiger Woods-designed golf course in the U.S. Bluejack has since expanded into North Texas with Bluejack Ranch, a 914-acre private club and residential resort near Fort Worth featuring golf, equestrian, wellness, recreation, entertainment and a range of residential offerings.
Together, Bluejack National and Bluejack Ranch form a private club and residential resort platform built around a shared membership culture and vertically integrated operating model. Bluejack Management Partners unifies the development, construction and operation of the clubs, amenities, residences and communities under one organization.
“Our longstanding relationship with Andy and his team and our firsthand familiarity with Bluejack give us confidence in the strength of the brand and the vision for the platform,” said Mac Maynard, managing director in corporate credit at Fortress Investment Group. “As a firm co-headquartered in Texas, we are proud to provide capital to support Bluejack’s continued development.”
Bluejack Management Partners is led by Chairman and CEO Andy Mitchell; Co-Chair and Head of Design Kristin Mitchell; Partner and Chief Brand Officer Josh Governale; President of Club Operations Brett Schoenfield; President of Builders Megan Stultz; and Chief Financial Officer Susie Lee.
