Black Bear is a P. Dye designed course that was acquired by Castle and partners in 2010. The Club had experienced years of poor management, declining sales and financial losses. Castle, acting as operating partner, grew rounds played from 23,000 to 34,000 annually, increased revenue by 40% and returned the Club to profitability with a 14% unleveraged ROE and an 18% return on sales. The Club won Best Golf Club Award in 2011, the first time in the Club’s history. The project was successfully sold in 2014.