Updated Dec 4, 2024
Concert Golf Partners Acquires The Club At Pasadera Golf Course In Monterey For $9.75M
100 Pasadera Drive
$9,750,000
Building Size
—
Asset Type
Commercial
Closing
Dec 18, 2023
About this deal
AI
Florida's Concert Golf Partners has acquired The Club at Pasadera, a Jack Nicklaus-designed golf course in Monterey, California, for nearly $10 million. The property, located at 100 Pasadera Drive, is a commercial asset in the Monterey market. The sale was completed on 12/18/2023.
Summary of transaction details:
- Property Type: Commercial
- Sale Price: $9,750,000
- Market: Monterey
- Buyer: Peter Nanula & Christopher Watkins - Concert Golf Partners
Concert Golf Partners, represented by Peter Nanula & Christopher Watkins, entered the California market with the acquisition of The Club at Pasadera. Immediate plans for the property include capital projects for infrastructure, clubhouse enhancements, kitchen upgrades, and dining renovations. The focus will be on improving the experience for both family and executive golfers.
On the Map
$9,750,000
Commercial
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93