The Bay Club Company acquired two additional golf courses in July, as the private club operator continues to move into golf. It acquired Fairbanks Ranch Country Club in Rancho Santa Fe, near San Diego, and The Golf Club at Boulder Ridge in San Jose.
Bay Club operates more than 20 California locations and serves more than 86,000 members. But the company only acquired its first golf course in 2014, when it added StoneTree Golf Club in Novato, Calif.
York Capital Management acquired the San Francisco company in 2014 and announced it would expand. At the time, it said it was negotiating for other golf courses and that it planned to transform traditional golf courses into modernized country clubs with a blend of hospitality, sports and recreational offerings.
It appears it took the company longer than expected to close on Fairbanks Ranch Country Club, a member-owned club. The Golf Club at Boulder Ridge was sold by its owner, Rocke Garcia, after it failed to get approval earlier in the year to add a pool and gym.
“We’re excited to expand our golf footprint and give our members access to two more preeminent California courses,” said The Bay Club Company President and CEO Matthew Stevens. “Our plan is to evolve the traditional country club membership into a more modern and flexible offering that suits the needs of today’s dynamic families.”
Stevens said the company’s membership model eliminates food and beverage minimums and cart fees, and also includes complimentary childcare serves and a camp for families. It also offers summer concerts, fitness classes, sports tournaments and related programming.
The Golf Club at Boulder Ridge in San Jose, CA, features an 18-hole golf course, driving range, clubhouse, and events pavilion. Fairbanks Ranch Country Club was built in 1983 and hosted equestrian events in the 1984 Summer Olympics. The golf course was designed by Ted Robinson.
Bay Club said it will spend $6 million to upgrade swimming and fitness facilities at Fairbanks Ranch. It had earmarked $10 million for renovations at StoneTree Golf Club, including a new golf practice facility, and upgrades to the clubhouse
CBRE’s Jeff Woolson represented the sellers in the Fairbanks Ranch transaction.