Japanese Company Interested in Buying Bel-Air Country Club
The Bel-Air Country Club, one of Los Angeles’ most exclusive and oldest private golf clubs, acknowledged Thursday that it has received preliminary inquiries from a Japanese company interested in buying the 63-year-old course.
In a letter dated Aug. 25 and sent to the 536 members who own the club, Dean A. Beck, president, said an unnamed Japanese party recently had proposed the possibility of acquiring the country club for $200 million, up from $80 million originally offered in April.
“Although our policy remains firm that Bel-Air Country Club is not for sale,” the letter said, “the board of directors feel a responsibility to the membership to investigate an offer of this magnitude.”
The second inquiry also included the possibility of present members retaining their golf, tennis and club house membership privileges.
Beck said in a telephone interview Thursday that the club has had no direct communication with the interested buyer, whose attorney has sent the two inquiries and identified his client in the letters only as a Japanese company. Beck, who declined to identify the attorney, said he does not know the name of the Japanese firm.
Buying Spree
Sources familiar with the Japanese business community, however, say the interested party is Sekitei Kaihatsu, the Tokyo company that recently paid $110 million, or a record $1 million a room, for the prestigious and luxurious Hotel Bel-Air. Sekitei’s representative in Century City, Shunosuke Kumata, could not be reached for comment. The 95-year-old Japanese firm operates luxury hotels, resorts and restaurants in Japan.
Japanese companies have been on a golf course buying spree in the United States and elsewhere around the world. Earlier this week, Marukin Shoji completed its two-stage purchase of the 168-acre landmark Riviera Country Club & Golf Course for $108 million. The classic Turnberry Hotel & Golf Courses in Scotland are now owned by Japanese interests.
Like the Riviera Country Club, the Bel-Air was built in 1926. Alphonzo Bell took his riches from oil gushing from beneath his Santa Fe Springs orange grove and developed Bel-Air, one of the richest residential communities in the world.
The Bel-Air Country Club, which attracted rich and famous personalities such as Fred Astaire, Spencer Tracy, Howard Hughes and Johnny Carson, is well known for its “swinging bridge” on the golf course.
A membership at the 120-acre club costs an initial fee of $75,000 and $300 a month.
In a telephone interview Thursday, Beck reiterated, “I can’t be more emphatic in saying that it (the club) is not for sale.”
