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.
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.