September 6, 2016
Hong Kong-based Shinhan Golden Faith International Development Limited acquired Malibu Golf Club and the surrounding property in the hills of Malibu, CA from a court-appointed receiver for $30.5 million. The 18-hole property sits on a 650-acre site within the Santa Monica Mountains Recreational Area that’s fully entitled for development as a health and wellness golf institute.
Bill Hoffman of Trigild, a San Diego-based firm, handled the disposition following Malibu Associates’ $47-million loan default. The receiver was represented by Beverly Hills, CA-based Kennedy Wilson’s Fred Cordova, Ed Sachse, Ryan Eddy, Michael Puleo and Jake Sachse.
Trigild’s Hoffman says the property “presented a number of complex obstacles” that complicated and lengthened the process. “We are fortunate to have selected a solid buyer, and are excited to see what the future holds for the site.”
For comments, questions or concerns, please contact Dennis Kaiser