Sierra La Verne CC sold in joint purchase

Zaruka Investment Properties and Wedgewood Banquets jointly purchased Sierra La Verne Country Club in La Verne, Calif. earlier this month from PM Realty Group for an undisclosed amount.

John Zaruka, owner of Zaruka Investment Properties and founder and chief executive officer of Wedgewood Banquets, first purchased the 18-hole golf course in November of last year and the two companies acquired the entire country club this month.

“We decided to buy the whole country club because we felt so strong about the food & beverage opportunities,” Zaruka said. “We bought the club with the intent of leasing food & beverage and the golf course to separate companies.” 

The food & beverage portion of the business has been leased to Z-Golf, of which Zaruka is also founder and CEO.

Bellows Golf Management currently manages the private golf course.

“Bellows Golf Management has managed the course since the purchase with the intention to sign a long-term lease in the near future,” Zaruka said.

By leasing out the golf course and food & beverage operations, Wedgewood Banquets can focus on its primary business: full-service weddings and special events.  

The 112-acre property is a private country club with an 18-hole course, 30,000-square-foot tri-level clubhouse, a 12-station driving range and outdoor pavilion.

“There are long-term improvements to be made,” Zaruka said. “The irrigation system needs to be replaced in the next several years but nothing is set in stone. It’s really up to the lessee who will have full control of the golf course.” 

Zaruka has plans for some other minor improvements but is happy with the property as is.

 “It’s a nice golf course with a great solid base of membership,” he said. “We plan to keep it that way for now but that doesn’t mean its not going to change in two years. We are still discussing what can happen with the golf course.” 

Zaruka would not disclose the sale price but said he “wouldn’t have bought it if it wasn’t a good value.”

He said the transition has been smooth and most of the staff has retained their jobs with the exception of the superintendent who already had plans to retire.

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