The Aptos, Calif. property, with a golf course that opened in 1926, is being bought by two local companies from American Golf Corp. The sales price was not disclosed, but American Golf had asked $12 million, after paying $13.77 million for the club 25 years ago. Monterey Bay Golf Management has been hired, with well-known local GM Gary Nelson, who has been at Seascape for 11 years, staying on along with much of his staff.
Seascape Golf Club in Aptos, Calif. is poised to return to local ownership, the Santa Cruz (Calif.) Sentinel reported, with SAR Enterprises and The Holcomb Corp., both of Aptos, forming a new partnership to acquire the 18-hole course and clubhouse that sits on 139 acres.
The new partnership, Seascape GC LLC, is in contract with San Diego-based American Golf Corp. (AGC) to assume ownership on or about November 1st, the Sentinel reported.
The sales price was not disclosed. AGC had asked $12 million, down from the $13.77 million the company paid in 1993, the Sentinel reported.
The club’s golf course opened in 1926.
Management will stay local, as the partnership has hired Monterey Bay Golf Management Group, the Sentinel reported.Well-known local General Manager Gary Nelson, who has been at Seascape since 2007, and many of his staff will stay, according to an announcement from the soon-to-be ownership.
The partners have deep roots in Aptos, the Sentinel reported.
Robert Ridino, owner and CEO of SAR Asset Management, Inc., has based his commercial real estate investment firm in Aptos since 1985.
Mark Holcomb and his family developed the adjacent four-diamond rated Seascape Beach Resort and Conference Center, with 283 suites, beach access, 11 tennis courts, a spa and Sanderling’s restaurant.
Paul Bailey of Bailey Properties in Aptos, a local broker for 42 years, represented the local parties in the transaction, the Sentinel reported.
Tell Us What You Think!
You must be logged in to post a comment.