The clubhouse and the golf course were purchased for money owed to Wilshire State Bank.
The Palm Desert (Calif.) Country Club’s 170 acres of golf course, clubhouse and other amenities were bought earlier this month for $1.87 million by its main creditor at a trustee’s sale in Riverside, reports The Desert Sun.
Wilshire State Bank, as the holder for the note on the property, entered a “credit bid” of $1.87 million to set the minimum bid, and there were no others, Palm Desert Assistant City Manager Justin McCarthy said.
The course has been closed since May. McCarthy said he considers the bank taking full possession of the golf course and club a positive step, though it’s hard to tell whether it’ll be sold and/or reopened soon.