Broker Steve Abraham of Property Group International tells GlobeSt.com that O Hill, which also owns the Newport Beach Country Club, acquired the approximately 140-acre property from National Golf Operating Partnership LP. The selling partnership is an affiliate of Santa Monica-based National Golf Properties, a real estate investment trust.
Abraham, who represented the buyer, says the private country club will continue to be leased on a long-term basis to American Golf Corp., a sister company of National Golf, which operates the club.Besides an 18-hole championship golf course, Abraham says, the property includes a clubhouse, tennis courts, a swimming pool and a fitness center.
National Golf, which owns 126 golf courses in 22 states, acquired the SeaCliff property in May 1996.American Golf, also based in Santa Monica, is the primary tenant and primary operator of National's courses and is the largest operator of golf clubs in the world. National calls itself the largest publicly traded company in the United States that specializes in the ownership of golf courses.
Between them, National and American operate 246 golf clubs in the United States, many of them in Southern California, the San Francisco Bay area, New York City, Atlanta, Hilton Head Island, Chicago and Las Vegas. Counting its facilities in other countries, American Golf is the largest operator of golf facilities in the world, with more than 300 private, resort and daily fee golf courses and practice centers in the United States, United Kingdom, Australia and Japan.
The two companies in April signed a merger agreement that would form the largest owners and operator of golf courses in the world and would end National Golf's status as a REIT.
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