WESTMINSTER, Colo. (BusinessDen) — The Ranch Country Club in Westminster was sold last week by its members to a company that owns and operates private clubs around the country.
Newport Beach, California-based Concert Golf Partners paid around $7 million for the club, according to members familiar with the deal, for the 150-acre course, clubhouse, tennis courts and pool.
That price tag was equal to the existing debt on the course, according to members, taken on in part to renovate the clubhouse in 2016.
“For so long, The Ranch Country Club was really hovering on the brink of coming into its own as a high-end family club in the area,” said General Manager Kate Karnik. “This opportunity secures that for us.”
Karnik said 98 percent of members voted in favor or the sale.