SIMI VALLEY : Wood Ranch Golf Club Is Finally Sold
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After falling into the hands of a debtor more than a year ago, the exclusive Wood Ranch Golf Club in Simi Valley has finally been sold.
National Golf Properties Inc. of Santa Monica announced on Tuesday that it has bought the course from Wells Fargo Bank for $9.25 million.
The bank foreclosed on the course in January, 1994, after the original developer defaulted on a $15.2-million loan.
National Golf Properties, which owns 75 golf courses, is the largest publicly traded company in the nation specializing in the acquisition of golf courses.
The company is planning to lease the Wood Ranch course to American Golf Corp., which operates more than 180 golf courses throughout the United States and the United Kingdom.
Memberships at the private 18-hole Wood Ranch course run $25,000 apiece.
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