Investors to Buy Balboa Bay Club
The deal includes Newport, Calif.’s storied beach club, hotel and the Newport Beach Country Club. The terms were not disclosed.
The deal includes Newport, Calif.’s storied beach club, hotel and the Newport Beach Country Club. The terms were not disclosed.
International Bay Clubs Inc. (IBC), which owned the two properties, was sold to Delaware-based Seven-One Capital-Business Inc.
Proposed renovations at the Newport Beach (Calif.) Country Club include a “boutique hotel” and spa open to non-members, as well as improvements to aging golf and tennis facilities, reports the Daily Pilot. Property owner Golf Realty Fund aims to reduce the tennis courts from 24 to 10, remodel both clubhouses, create a health and wellness center, full-service spa, [...]