Investor Group Buys National Golf Properties

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National Golf Properties (TEE ), and its largest tenant, privately-held American Golf, agree to be acquired by an investor group led by Goldman Sachs Group (GS ) affiliates in a deal valued at $1.1 billion. National Golf, a real estate investment trust that owns 116 golf courses in 22 states, says its shareholders will receive $12 a share in cash, minus any dividends or distributions paid prior to the closing of the deal. (9/16)

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