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Bear Valley (Photo Courtesy of CBRE)

CBRE Golf Wraps Up 2014 With Deals in the Mountains And Desert

San Diego CA— CBRE’s Golf and Resort Group has announced it completed three transactions in the last two weeks of December. These recent sales occurred in the Arizona desert and the mountains of Montana and California.

The 500-acre, 428-room Hilton Tucson El Conquistador Golf & Tennis Resort features a number of recreational amenities. The resort sold for $15 million with its sister property, the 36-hole semi-private El Conquistador Country Club. Located three miles apart, the two properties offer 45 holes of golf and 32 tennis courts. CBRE represented MetLife in the multi-asset sale to Tucson-based real estate firm HSL Properties.

El Conquistador Golf & Tennis Resort ( Photo courtesy of CBRE)

El Conquistador Golf & Tennis Resort ( Photo courtesy of CBRE)

Bear Valley Mountain Ski Resort is a popular 1,700-acre ski resort on U.S. Forest Service land in Northern California, halfway between Lake Tahoe and Yosemite. The 1980s and 1990s brought Hollywood skiing celebrities like Clint Eastwood, Robert Redford, Robert Conrad and Lloyd Bridges to Bear Valley where they spent quality time with their families. CBRE represented the seller, Dundee Resort Development in the sale of Bear Valley to Toronto-based Skyline International Development.

The Ranch Club is a popular master-planned golf community in Missoula, Montana that is being sold in parts. CBRE is representing the seller, First Interstate Bank and approximately 46 finished lots sold last week to a group of local investors. The club itself and the balance of the developable land is currently under contract and expected to sell in early 2015. The Ranch Club opened in 2004 and the expansive practice facility serves as the new home of the University of Montana’s women’s golf team.

Ranch Club  ( Photo courtesy of CBRE)

Ranch Club ( Photo courtesy of CBRE)

CBRE’s Golf & Resort Group completed 15 transactions this year. The group is led by Jeff Woolson, an Executive Vice President who serves as Managing Director of the group. Mr. Woolson stated, “This has been another good year for our practice, with a variety of deals getting done in the Caribbean, Europe and U.S.A. We are seeing positive movement in the golf space, as well as ski resorts, marinas and the Caribbean.”

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