San Diego CA— CBRE Group Inc., has announced the recent sale of Fairbanks Ranch Country Club, a private, member-owned club in the affluent San Diego community of Rancho Santa Fe for an undisclosed price. Situated on land owned by the City of San Diego, the club was built to host equestrian events that were part of the 1984 Summer Olympic Games.
The featured amenity at Fairbanks Ranch is a championship golf course designed by Ted Robinson. A third nine was added by Ted Robinson, Jr. in 2004. Other recreational amenities include a croquet court and eight tennis courts, five of which are lighted for night play. The upscale clubhouse measures approximately 33,000 square feet and the tennis clubhouse is approximately 5,000 square feet.
CBRE represented the Fairbanks Ranch Country Club members in the transaction, who sold their club to The Bay Club, a California based active lifestyle corporation. The Bay Club is focused on fitness, sports, hospitality and family, by acquiring established golf and country clubs in proximity to their existing locations. The Bay Club will offer members reciprocal privileges at their sports resort in nearby Carmel Valley and have committed $6 million toward swim and fitness facilities at Fairbanks Ranch. The Bay Club has more than 20 locations across multiple campuses with more than 86,000 members and 3,400 employees throughout California.
Jeff Woolson, an executive vice president and the managing director of CBRE’s Golf & Resort Group, handled the transaction. Mr. Woolson commented that, “Fairbanks Ranch is a renowned private country club in one of the most affluent communities in Southern California and this transaction is the result of cooperation between the club members, The Bay Club and the City of San Diego.”