Premier golf course near Pebble Beach sells for almost $10 million

A private golf club less than 15 miles away from Pebble Beach has been bought for just shy of $10 million.

According to the Monterey Herald, The Club at Pasadera has been sold to a group of local investors by Concert Golf Partners.

Designed by Jack Nicklaus, the par 71 golf course measures 6,673 yards and has endured a tough spell since it opened at a cost of $42 million in 2000.

CBS Sports broadcaster Jim Nantz labelled the venue one of the most ‘underrated gems’ in California golf, despite now being with its fourth set of owners.

The ‘spectacular’ golf course and country club is the centerpiece of the 565-acre, 250-home Pasadera Community, located on the Monterey Peninsula.

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Ten years after opening, it was bought by HNA Group, a Chinese conglomerate, for about $7.5 million after the original owners, Pasadera Country Club, LLC., filed for Chapter 11 bankruptcy.

Meanwhile, in December 2008, a deal fell through with the Trump Organisation over a possible sale due to loan conditions and the threat of lawsuits.

This was all before a group of local investors purchased Nicklaus Club Monterey for roughly $3.2 million and renamed it The Club at Pasadera in late 2018.

With an everchanging past, its new owners are aiming to safeguard the clubs ‘rich heritage’ as the Florida-based firm wraps up its first California purchase for $9.75 million.

Concert Golf Partners now owns 33 properties, including The Club at Longview in Charlotte, The Club at Renaissance in Florida, White Manor Country Club in Philadelphia and The Muttontown Club in New York.

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“We’re thrilled to welcome The Club at Pasadera, a perfectly crafted golf course and premier club located in one of golf’s elite global destinations, into the Concert Golf family,” said Concert Golf Partners Senior Vice President Jordan Peace.

“Our commitment to safeguarding the rich heritage of this club aligns seamlessly with our overarching mission.”

Christopher Watkins, Vice President of Operations for Concert Golf Partners, said: “We’re really excited.

“The members and staff are fantastic and we’re really looking forward to getting it up to, and above, the level of expectation and desire of when it was built.”