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100 Pasadera Drive

Concert Golf Partners Acquires The Club At Pasadera Golf Course In Monterey For $9.75M
SOLDCommercial

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

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.

Players

Peter Nanula

Concert Golf Partners

Buyer

$46.5M

vol

4 deals

Buyer
CP
Concert Golf PartnersBuyer

Monterey Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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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