July 20, 2020
CBRE’s Golf & Resort Group completed the sale of three golf courses in SoCal. The group’s two most recent transactions occurred in the Coachella Valley at Palm Desert Resort Country Club and the Gary Player Course at Mission Hills North (pictured). A third course, Bright’s Creek in North Carolina, also sold.
Palm Desert Resort Country Club is a semi-private golf club. The club’s championship golf course is complemented by a 42,000-square-foot clubhouse that features two banquet halls and restaurant that seats 120 guests. CBRE represented the buyer, the Palm Desert Resorter Homeowners Association.
The Gary Player Course at Mission Hills North was designed by World Golf Hall of Famer Gary Player in 1992 near the Westin Mission Hills Resort. The clubhouse, parking lot and entrance are situated on an adjacent 20-acre parcel. CBRE represented the seller, Clearview Hotel Capital.
CBRE’s Jeff Woolson says, “These are difficult times to be sure, but deals are getting done by motivated sellers. Investors are active, and we expect to put several more properties under contract this summer.”
For comments, questions or concerns, please contact Dennis Kaiser