International Bay Clubs Inc. (IBC), which owned the two properties, was sold to Delaware-based Seven-One Capital-Business Inc.
The Balboa Bay Club & Resort, Newport Beach, Calif., has been sold, reports the Daily Pilot. The sale also includes the private Newport Beach (Calif.) Country Club.
International Bay Clubs Inc. (IBC), which owned the two clubs, was sold to Delaware-based Seven-One Capital-Business Inc. Seven-One is owned by Winston Chung.
According to the Pilot, the management teams will stay the same.
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