IE Business Daily Business news for the Inland Empire.
Canyon Crest Country Club in Riverside has been sold.
The private club at 975 Country Club Drive sold for an undisclosed sum, according to a statement released by Newmark, the commercial real estate brokerage that negotiated the sale.
The buyer was Canyon Crest Country Club, Inc., a private investment group. The seller was ClubCorp Inc. in Dallas, one of the largest owners and operators of private golf and country clubs in the United States.
The transaction was off-market.
“Golf in the last year or so has spiked interest in first-time golfers, encouraged existing players to get out on the green more frequently, which in return gave investors a new outlook on acquiring existing private country clubs and public golf courses,” said Mario J. Alvarez Newmark managing director. “Canyon Crest Country Club, Inc. is excited about the future of golf and the vision they have for their country club.”
Club officials did not return a telephone call seeking comment.
Canyon Crest Country Club covers 160 acres. It includes an 18-hole golf course, clubhouse, swimming pool and six tennis courts.
